logo

VeChain Price Analysis: VET swiftly moves above the previous high, targets $0.135 next?

VeChain Price analysis

TL;DR Breakdown

  • VeChain price analysis is bullish today.
  • VET/USD saw further advance today.
  • Closest resistance at $0.135.

VeChain price analysis is bullish today as more upside was seen over the past hours after a slight pause overnight for the rally that started yesterday. Therefore, we expect VET/USD to continue higher and reach the $0.135 mark next.

VeChain Price Analysis: VET swiftly moves above the previous high, targets $0.135 next? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the green over the past 24 hours, with Bitcoin up by 3.36 percent. Ethereum saw an even better result, with a gain of 11.82 percent, while Solana (SOL) is the top performer, with a 21 percent increase.

VeChain price movement in the last 24 hours: VeChain breaks above the previous high at $0.128

VET/USD traded in a range of $0.1164 – $0.1321, indicating strong volatility over the last 24 hours. Trading volume has increased by 94.63 percent and totals $640.6 million, while the total market cap trades around $8.46 billion, ranking the coin in 23rd place overall.

VET/USD 4-hour chart: VEt targets $0.135 next? 

On the 4-hour chart, we can see the VeChain price action still pushing higher, likely leading to a test of $0.135 resistance later today.

VeChain Price Analysis: VET spikes above the previous high, targets $0.135 next?
VET/USD 4-hour chart. Source: TradingView

VeChain price action has slowly moved higher over the past weeks as bearish pressure frequently has returned, preventing clear higher highs set. After an initial rally on the 1st of October, VET/USD reached $0.115.

From there, a week-long consolidation was seen around $0.11 until a quick spike higher to $0.123 was followed by a sharp retracement of more than 15 percent to the $0.103 mark.

Early last week, VeChain price rallied back to the $0.123 high, with further slight higher highs set over the week. Over the weekend, VET/USD retraced and set a higher low, around $0.115. 

Consolidation followed until a rapid push higher began yesterday, resulting in a move towards $0.128. After a slight pause overnight, more upside followed today, quickly pushing VET to a new higher high above $0.128.

VeChain Price Analysis: Conclusion 

VeChain price analysis is bullish today as a strong advance over the last 24 hours pushed VET above $0.128 previous high without much hesitation. Therefore, we expect VET/USD to test the $0.135 next resistance later today.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Ethereum eyes $2K as the final testnet merge goes live on Goerli
CALDANCE to Revolutionize the Fitness2Earn Landscape
Metaverse, Web 3.0 Disruption and Blockchain Advancement  to be Discussed at MetaWeek in Dubai
Asian Blockchain Festival 2022 - An In-Depth Insight About Blockchain
Litecoin price analysis: Bullish spell launches LTC above $61.85

Follow Us

Industry News

Renbridge Used by Cybercriminals to Launder $540M by Chain Hopping
Hotbit halts trading activities on its platform
Coinbase records $1 billion loss in Q2
Curve Finance hacked and $570K stolen
What happens to $ETH after the merge on 19 September?