$VTHO

‌ is a case study in what happens when a short squeeze runs out of fuel. The 4-hour chart tells the story of a purely mechanical pump that has already started to unwind.

Price rocketed from 000039 to a high of 00007994 as an extreme negative funding rate forced short sellers to buy back their positions. Over 4.18 million dollars in shorts were liquidated across 717.95 million dollars in volume. But here is the key detail most traders miss. The actual catalyst driving the VeChain ecosystem is the InterStellar upgrade scheduled for September 16, and that benefits VET, the value token, not VTHO, the gas token. VTHO simply got swept up in the frenzy.

Now the chart is flashing clear distribution. Price has rejected from the high and is trading below EMA5 (00006859) and EMA10 (000069). The MACD is showing a bearish crossover with DIF crossing below DEA, and the histogram has turned negative. The squeeze is dead.

Entry: 0000680 - 0000690
Stop Loss: 0000720
TP1: 0000630
TP2: 0000580
TP3: 0000520

Do you think VTHO will retrace further, or is this just a pause before another leg up? Drop your thoughts below!