VeThor (VTHO) Price Skyrockets Over 300% in Massive Parabolic Surge

Key Takeaways

• Breakout from descending resistance signals bullish momentum potential
• Daily chart targets align with $0.0152 and $0.0286 levels
• Corrective structure tests $0.0068 for trend continuation validation

VeThor Token (VTHO) has recently shown signs of significant price activity, breaking free from a prolonged consolidation phase.

The token’s price action reflects renewed bullish momentum, with the higher time frame chart indicating a breakout from a descending resistance and potential for continued upside.

Meanwhile, the lower time frame reveals a corrective phase following an impulsive rally, setting the stage for a pivotal move in the short term.

VTHO Price Analysis

The daily chart shows VTHO surged over 300%, rising to $0.0101 on Jan. 21 from a prolonged accumulation period near the $0.0025 level from the start of December.

The breakout is substantial, moving above the descending resistance that has dominated since May 2022.

This bullish reversal aligns with a key historical support zone ($0.0021 – $0.0028), now serving as a strong base for upward continuation.

The daily Relative Strength Index (RSI) has recovered significantly entering overbought territory, suggesting potential trend exuberance.

The price currently tests a horizontal resistance zone at $0.0103. Breaking this level could expose targets near $0.0286, aligning with a major pivot from 2021. 

The broader Elliott Wave count suggests completing a long corrective phase and beginning a new impulsive wave cycle. Sustained buying pressure will be pivotal to confirm this bullish outlook.

VTHO  Price Prediction

The 5-minute chart provides granular insights into the short-term corrective structure. After reaching a lower high at $0.0099, the price retraced, forming a potential (a)-(b)-(c) corrective wave structure.

Wave (b) currently tests the ascending trendline, which aligns with the $0.0086. Level.

If the ascending support holds, a continuation towards $0.0103 and beyond is likely, completing Wave (v) of the larger cycle.

Conversely, breaking below $0.0070 could extend Wave (c) lower, potentially targeting $0.0055. The corrective wave count and RSI on this time frame indicate balanced momentum, leaving both scenarios plausible.

Should the bullish scenario prevail, the short-term targets are $0.0115 and $0.0125. These levels align with resistance levels identified on higher time frames, reinforcing their significance.

Key Levels to Watch:

• Immediate Resistance: $0.0103 (Wave (v) local high).
• Immediate Support: $0.0068 (ascending trendline and 0.618 retracement).
• Critical Support: $0.0055 (0.786 Fibonacci retracement).
• Short-Term Target for Wave (v): $0.0115 to $0.0125 if bullish continuation sustains.