The cryptocurrency market has been no stranger to volatility, but VeThor (VTHO) has taken this to a new level following its listing on Upbit, South Korea’s largest crypto exchange by trading volume.
After a period of relative stability near the $0.0025 mark since early December, VTHO’s price skyrocketed by over 260% to a high of $0.009118 on January 22, marking one of the most dramatic surges in recent crypto history.
Upbit introduced KRW and USDT trading pairs for VTHO
On January 21, 2025, Upbit announced the introduction of VeThor (VTHO) to both the Korean Won (KRW) and Tether (USDT) markets.
This listing immediately sparked a frenzy among traders, driving the token’s price from a prolonged accumulation phase to an astonishing surge.
The trading volume reflected this enthusiasm, soaring by an unprecedented 88,000% within 24 hours, with Upbit alone accounting for over 66% of VTHO’s global trading volume, amounting to $2.1 billion in transactions.
VTHO isn’t just another cryptocurrency; it plays a crucial role within the VeChainThor blockchain, facilitating transactions and smart contract executions.
The token is generated by holding VeChain (VET), making it integral to the efficiency and scalability of the network.
This fundamental utility adds a layer of value beyond speculative trading, potentially attracting long-term investors interested in the VeChain ecosystem’s growth.
VTHO’s technical analysis and market sentiment
From a technical standpoint, VeThor (VTHO) has broken through significant resistance levels that had been in place since May 2022, signalling a bullish reversal.
The daily chart analysis shows that VTHO not only surpassed its descending resistance but also established a new base for potential upward movement from a historical support zone between $0.0021 and $0.0028.
However, the Relative Strength Index (RSI) on the daily chart has moved into overbought territory, indicating potential over-enthusiasm, but also confirming strong buying pressure.
The Moving Average Convergence Divergence (MACD) for VeThor (VTHO) further supports this bullish outlook.
The MACD line has crossed above the signal line with expanding histogram bars, which is typically interpreted as a sign of increasing bullish momentum.
This suggests that the market sentiment towards VTHO is currently very positive, potentially driving the price towards psychological resistance levels around $0.01 to $0.015.
Short-term VeThor price predictions
Going by the technical analysis, the market’s reaction to VTHO’s listing has been mixed.
On one hand, the token has not yet reclaimed its all-time high of $0.042 from August 2018, remaining about 80% below that peak.
On the other, the price as of this writing stands at $0.007210, which is a testament to the recent bullish surge.
However, the market could see some correction if the current momentum does not hold. Currently, the token is oscillating between $0.0089 and $0.0066.
Sustained buying pressure could see VTHO testing new highs with a $0.0089 breach leading to a continuation towards a higher level.
However, a drop below $0.0066 might indicate a corrective phase, targeting levels like $0.0050.
What to expect moving forward
As VeThor (VTHO) navigates through this volatile phase, the key will be how well it can maintain its newfound value against potential market corrections.
The significant increase in trading volume and the number of unique addresses interacting with VTHO indicate robust adoption and interest.
At press time, the VTHO’s 24-hour trading volume was well above $476.847 million while the number of unique addresses was well above $2.9 million out of 3,805,357 total VTHO holders.
If the bullish momentum persists, backed by continued positive technical signals and network growth, VeThor (VTHO) could aim for resistance levels not seen in years.
However, traders and investors should brace for volatility, as the rapid rise might invite profit-taking or speculative selling, which could lead to price adjustments.
The interplay between these market dynamics will dictate VTHO’s trajectory in the near term, making it a fascinating token to watch in the ever-evolving crypto landscape.
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