- The latest VeChain price analysis shows ,sufficient rise in price occured above $0.12.
- Further recovery is possible if support remains $0.10.
- Support is found at $0.11.
The VeChain price analysis is going strong for the VET bulls today, as the price has passed many levels to reach the $0.12 position. The growth has been commendable as throughout the day has been showing positive signs for cryptocurrency.
The bulls have found their way to reestablish their position above $0.12, and a further increase in VET/USD price can be expected given the following bullish streak.
VET/USD 1-day price chart: Price hovers at $0.12 after bulls strive for an upswing
The 1-day VeChain price analysis chart is showing that the price has increased slightly today as it has reached $0.12 of value. There has been a major drop in the price earlier this week which had left damaging effects on the cryptocurrency value.
The trends have seen a slight shift today as the price levels are on their way to recovery at a slow pace. The moving average (MA) has been rising i.e. $0.14 as there have been bullish wins in the prior weeks as well.
The volatility has increased which has caused the upper Bollinger band value to increase up to $0.15 and the lower value to drop to $0.11. The Relative Strength Index (RSI) score is on its way to cross its current value as well i.e. 49, which is quite a neutral figure.
VeChain price analysis: Bullish momentum recharges VET/USD as it prepares for further recovery
The latest VeChain price analysis is indicating a continual rise in the price which has followed up today as well. The progress has been quite appreciable as there have been very few instances of bearish activity.
The price has successfully traveled to the $0.12 level, as the circumstances have been favorable for the bulls. The 4-hours VET/USD price chart is showing the moving average at $0.121, and the Bollinger bands average at $0.13.
The volatility has decreased significantly which is also positive news for cryptocurrency. As a result, the Bollinger band values have readjusted themselves as such that the upper band is now at $0.16, leaving the lower band at $0.102. Lastly, the RSI score has flattened at 43 and may rise as bullish momentum gains strength.
The competitors have given each other quite a tough time during the day, which is why the technical indicators chart is giving a neutral signal. There are nine indicators that have secured the neutral position, with eight indicators at the selling and nine indicators at the buying positions.
The Moving Averages are indicating the same, as they are also maintaining the neutral signal. There are seven indicators that are present at the selling and buying positions each, which leaves only one indicator at the neutral position. The Oscillators are also neutral, with eight oscillators at the neutral position, one at the selling position, and two oscillators at the buying position.
VeChain price analysis conclusion
The following 1-day and 4-hours VeChain price analysis is giving encouraging signs for the buyers as there has been a constant rise in the price since the past hours. The VET/USD price value is recovering after a huge loss and has now reached the $0.124 level. There is a possibility of the price going up at even higher levels, given that the support is kept secure at $0.102.
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