VIDT Datalink price has gone parabolic but a 46% dive is imminent

The price of VIDT datalinks has been parabolic in the last few days, even if other cryptocurrencies have rebounded. Tokens have risen to a monthly high of $ 0.82. This is about 697% above this year’s lowest level. According to CoinGecko, market capitalization has skyrocketed to about $ 29 million.

What is a VIDT data link?

VIDT Datalink is a blockchain project aimed at changing the data integrity and verification industry. The platform consists of three main services: VIDT API, VIDT Private Cloud, and VIDT Smart Contracts.

VIDT works in a relatively simple way.It starts with publishing product Salesforce, SAP, and other software products. These products connect to multiple cloud providers such as AWS, IBM Cloud, and Google Cloud. Finally, these are linked to the VIDT API. This is a cost-effective way to use a data integrity platform.

There are many use cases for VIDT data links. For example, luxury brands such as Rolex and Breitling can be used to protect watches. Enterprises can use platform technology to protect these watches and prevent them from being duplicated. When ownership changes, VIDT’s smart contract capabilities are moved to the new owner.

Compare Best crypto trading bot..

VIDT also has many uses in the newly growing industry, known as Non-Fungible Tokens (NFTs). One of the challenges facing the industry is how difficult it is to distinguish between genuine and fake products. Creators can use VIDT to ensure that their work is not forged.

At the core of this platform are VIDT tokens. Each time the publisher time stamps a file or NFT, one VIDT transaction is created and all transactions are recorded on multiple blockchains.

VIDT Datalink Price Forecast

Daily charts show that VIDT prices have become parabolic this week. As it rose, the coin surpassed the July 2021 low of $ 0.27, a significant resistance level. It is currently above the 25th and 50th moving averages while the oscillators continue to rise.

I believe these benefits are not sustainable in the short term. Therefore, it is more likely that the VIDT token will be pulled back quickly and rapidly. If this happens, the next major level of support to note will be $ 0.2736. This is about 46% lower than the current level.