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Vechain News

VeChain Price Shows Swift Progress And A Bullish Short-Term Outlook

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VeChain price shows swift progress and has a bullish short-term and medium-term trading outlook as we are seeing today in the latest VEchain news.

The four-hour time frame shows that e bullish breakout from the wedge pattern is taking place and the daily time frame shows that the bearish head and shoulders pattern is still hanging over the VET/USD pair. VeChain is still outperforming the rest of the crypto market as of Monday it made strong double-digit gains and continued with a lot of bullish fundamental news over the weekend.

The VET/USD pair gained more than 20 percent since the start of December and is now trading around 80 higher from the previous November price. The technical analysis for the Vechain price shows that the pair is still performing a bullish wedge breakout on the daily time frame, thus moving the cryptocurrency to a distance close of the November monthly high. The four-hour time frame shows that a breakout above the high in November could even boost further the technical buying towards the $0.01 level.

The daily time frame shows that the VET/USD pair is trading well above the 200-day moving average and the large head and shoulders pattern is still hanging above the cryptocurrency. The bulls have to rally VeChain towards the $0.012 level if they want to invalidate the bearish pattern. If the buyers can invalidate the bearish pattern, the VET/USD pair could even stage a rally to the $0.02 price level.

The Relative strength index on the Daily time frame shows that the cryptocurrency is not in the overbought territory despite the huge double-digit advance in the cryptocurrency and the MACD indicator is also generating a strong buy signal. According to the latest sentiment data, Vechain’s short-term sentiment is standing at 56 percent at a neutral position while the overall long-term sentiment is quite bullish at 78 percent. The four-hour time frame shows that the key technical resistance is located at the $0.008 and $0.01 level while the key technical resistance in the medium-term is located at the $0.012 and $0.02 level.

The four-hour time frames show that the VET/USD pair has a strong medium-term technical support getting close to the $0.006300 level and the critical long-term technical support for the pair that is located at the $0.0045 level.

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Vechain News

VeChain Proposes Decentralized Governance Model For VET Holders

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VeChain proposes a new decentralized voting and governance model for the VET holders as we are about to read further in the VeChain coin news.The foundation is a non-profit organization that oversees the development of VeChain announced the launch of the new decentralized voting platform for VET token holders. VeChain’s steering committee will put the platform up to the test on December 6 when they can approve or reject several amendments to the VeChain governance model.  Managing a decentralized community for developers, founders, entrepreneurs, and token holders has been one of the hardest tasks for the crypto community. According to VeChain, this is mostly a social problem rather than a technical one.The ability to adapt the new situations is critical for the success of the startups. This has been simple so far, one CEO and a few employees can quickly arrive at a consensus for defining progress and in the world of crypto where the transparency, decentralization and the absence of the hierarchy are emphasized by reaching an agreement is much more difficult.VeChain proposes the new dynamic and various projects have adopted the new voting procedures. Decred is a well-known example of the adoption which is combined with proof of work and proof of stake model offers the computing security of PoW but still gives the members a say as to how the protocol is operating the staking of DCR tokens. VeChain aims to integrate the voting platform called VeVote where the community can view incoming changes to the VeChain ecosystem:
 “The VeVote platform provides an immutable, transparent and decentralized platform for stakeholders to cast their votes on important decisions based on their voting authority. The voting is done via VeVote smart contracts and the result will be recorded on the VeChainThor blockchain.”
The VeChainThor blockchain is a blockchain-based solution focused primarily on improving the supply chain and the Internet of Things and DNV GL partnered with VeChain in July 2019 with the intent of leveraging the technology that can improve Vechain’s quality assurance services. The four points are pending a vote on December 6 make up proposed revisions to the original foundation governance charter.The first round of votes is planned to be stored on the VeChainThor blockchain with a redefining category that provides voting authority and determines which subjects demand an all stakeholders’ vote. The platform can also adjust the voting authority model based on the amended category and simplifying the voting procedure overall.
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Blockchain News

Microsoft Will Turn Retro Gamebook Into A Blockchain Card Game

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Microsoft will bring an old gamebook back to life as a result of the latest partnership with Eidos and Fabled Lands. The three companies will bring the popular 1980s gamebook back to life by creating a blockchain card game as we are reading in the blockchain news today.Eidos is a major game developer and the Fabled Lands is a gamebook company that will be cooperating with Microsoft to create the new blockchain card game. According to a press release, the new card game will be based on the best-selling book named ‘’The Way of The Tiger’’ initially written by Jamie Thomson and Mark Smith. The game will be named ‘’Arena of Death’’ and the players can fight the fantasy-themed card battles and features from the original gamebook series.Thomson is the Fabled Land’s chief executive officer and he was the one who decided to use blockchain technology because he believes that it suits the needs he has in order to achieve a better version of the traditional videogame. He said:
 “We were going to relaunch the series into a computer game format but this new technology (blockchain), just made more sense. Imagine playing Magic the Gathering but knowing if you owned a card, it really does belong to you. Or if we say there are only 100 editions of an item or skill, you know there really are only 100 editions.”
The company plans to use non-fungible tokens on the VeChain blockchain that was associated with the enterprises and supply chain management in order to ensure ownership of the in-game assets. VeChain will allow creating cards and in-game items without the need to deal with all of the ‘’crypto stuff’’ according to Thomson.The tokenization of in-game assets is a growing trend as reported in late November, the Blockchain game F1 Delta Time which is licensed by the world-renowned racing series Formula 1, had an auction of car-branded NFTs. Also, Microsoft will work on another blockchain-related project with the R3 company and KPMG to develop a blockchain for telecom settlements. The latest partnership of the global accounting firm with two distributed industry leaders, one of which is Microsoft– is featured and continues to be the vein of resolving the issues that arise from multi-party connections.
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Vechain News

VeChain (VET) Price Analysis: Altcoin Surges Higher Determined

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The VeChain (VET price analysis shows that the altcoin has a bullish short-term and a medium-term trading outlook but the four hour time frame shows that an inverted head and shoulders pattern is triggered. Let’s find out more in the Vechain news today.The daily time frame shows a huge head and shoulders pattern and Vechain is now surging higher with the VET/USD pair adding more than 20 percent to the trading value, following a major bullish breakout above the 200-day moving average that was recorded earlier this week. The recent rally for the Chinese projects has helped to boost the company’s bid tone behind the VeChain (VET) price related to the USD pair with the increasingly popular crypto trading at its highest level since July 10th this year.After dropping to a fresh all-time low last month, the turnaround for the pair has been spectacular and the cryptocurrency now trades more than 150 percent higher since October 24th and also another 30 percent higher since the start of this month. The altcoin is surging higher with the VET/USD pair gaining more than 20 percent to the trading value following a major bullish breakout. The four-hour time frame shows there is an inverted head and shoulders pattern that has been triggered with the $0.0095 level the near-term objective of the large bullish pattern.Key technical resistance for the VET/USD pair above the $0.0095 level is now located at the $0.0099 and the $0.0116 levels. The four-hour time frame is showing that the VET/USD pair is also trading below the $0.0065 level and is currently found to the $0.0058 and $0.0065 levels on the downside. VeChain has tremendous short-term upside potential and it seems that it will continue its recent bullish breakout. Going forward, the pair buyers have to invalidate the bearish head and shoulders pattern in order to secure further medium-term gains.As the VeChain price surges by 120%, it is also making serious headway in solving real-world problems. According to analysts, the price has experienced something of a renaissance lately. Vechain is leading the way for all of the Chinese coins and the cryptocurrency for supply chain management has increased by more than 120 percent after Xi embraced blockchain. VeChain was followed by NEO and the cryptocurrency is up by more than 87 percent against the USD.
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NEO News

NEO And VeChain Pose Impressive Rallies The Past Week: Analysis

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NEO and Vechain have made through some impressive rallies over the past few days while TRON and Ontology are showing bullish signs as well. The traders weigh in and share the bullish predictions as we as we are reading further in the NEO news today.If you purchased Chinese coins when President Xi Jinping started getting into blockchain technology, the chances are you are likely to profit a lot and these profits would likely be increased if you purchased NEO and VeChain.Vechain is leading the way for all of the Chinese coins and the cryptocurrency for supply chain management has increased by more than 120 percent after Xi embraced blockchain. VeChain was followed by NEO and the cryptocurrency is up by more than 87 percent against the USD.These two coins have been really doing well and it seems like both of them are succumbing to profit-making and taking. Vechain is down by more than 4 percent from the recent high of $0.0067390 while NEO dropped 3 percent from the Wednesday high of $13. The sell of put some of the other coins into a position to pump but both of them are still posting five consecutive green candles so it should not come as a surprise of they pull back now.If the coins pull back, we can see some smart money funneling profits into other Chinese coins such as TRON, Ontology, and Qtum. TRON is flashing a few bullish signals now and there and it looks that it will follow the footsteps of Neo and Vechain. TRON even converted the $0.0187 resistance into support and it can also see the impending cross between the 100-day moving average and the 50 days moving average.Ontology follows the same route and the cryptocurrency converted resistance of about $0.80 into support. It also touts a possible cross between the 100-day moving average so it seems like a coincidence that the two Chinese cryptocurrencies don’t share the same setup but other traders have the same sentiment.The Chinese coins have a lot of potentials to take the action market away from the bears since the popular trader Crypto Rand is bullish on TRON and sees the exact same setup where the last resistance has been flipped into support.
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