VeChain Gets New European HQ As TA Looks Good On Coinbase Rumor

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Last Updated on 17 February 2022 by CryptoTips.eu

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VeChain, the originally Asian supply chain coin which saw a spectacular rise in the first half of 2021 and then followed it up with a similarly spectacular drop, is back in the spotlight as the coin seems to be one of the more interesting altcoins out there.

Although it dropped considerably in the CoinMarketCap top 100 as of late, the near term outlook once again looks bullish.

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San Marino

Earlier this week, VeChain announced that is was expanding its worldwide presence with the opening of a technology center in San Marino, which would serve as its new European Headquarters. The press released stated:

Our technology team will also scale across multiple locations within Europe, such as Ireland, Italy and San Marino.

Coinbase Rumor

Another piece of news that pumped the price of VET in recent days was the rumor that Coinbase could be listing the small altcoin soon.

David Gokhshtein, the normally well informed Bitcoin maxi influencer who has a mass following on social media, asked his followers about it on 9 February.

Furthermore, Grayscale, the diversified crypto fund, admitted on 24 January that VeChain was one of the coins in consideration to be included in their 2022 portfolio.

With all these bullish signals, analist Akashnath S that $0.062 was the near-term support level and $0.075 and $0.0699 levels are resistance levels. The $0.056-$0.06 area was significant across a longer time period, but VET could make another push to $0.075.

YouTube video

Justin Bennett, the best known VeChain technical analyst, agreed in his TA on 11 February that the $0.07 level is indeed the one to watch out for. Of course the Coinbase rumor only started 2 days earlier. To be followed up we guess.

karnoff / Depositphotos.com