- VeChain price analysis is bullish for the next 24 hours.
- VET/USD finds support at $0.11 overnight.
- VET started to rally again today.
VeChain price analysis is bullish for today as the market started pushing higher today after finding support at the $0.11 mark overnight. Therefore, we expect VET/USD to continue higher over the next 24 hours and look to move back to $0.128 resistance.
The overall market traded in the green over the last 24 hours with Bitcoin gaining 0.43 percent. Ethereum is up by 0.34 percent, while Cardano (ADA) is the best performer from the major altcoins, with a gain of 11.6 percent.
VeChain price movement in the last 24 hours: VeChain finds support at $0.11
VET/USD traded in a range of $0.1106 – $0.1194 with a trading volume of $513.3 billion, which is down by 25.85 percent from yesterday. The total market capitalization trades around $7.6 billion, ranking the coin in 25th place overall.
VET/USD 4-hour chart: VET targets $0.128 next?
On the 4-hour chart, we can see the VeChain price starting to rally today with the $0.128 mark as the next target.
The Vechain price action saw strong movement over the past week. After rallying to $0.115 during the first days of September, bulls became exhausted, resulting in a massive drop on the 7th of September.
In total, VeChain declined by more than 35 percent, with a brief spike below the $0.10 mark. From there, the further downside was quickly rejected and VET/USD returned above $0.11.
More upside followed on Thursday, with a consolidation formed below $0.125. Further, VET/USD saw a decline to $0.11 yesterday, with a higher low set again. Overall, this price action development indicates that we can expect more upside over the next 24 hours as bulls slowly regain control over the market.
VeChain Price Analysis: Conclusion
VeChain price analysis is bullish for the next 24 hours as the market slowly starts to trade higher today after finding support above $0.11 overnight. Therefore, we expect VET/USD to continue moving higher and target the $0.128 resistance next.
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