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VeChain Price Analysis: VET swiftly moves above $0.135 resistance and tests $0.137

TL;DR Breakdown

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

The Vechain price is in a good position today, with more upside seen over the last hours after a minor breakaway overnight that saw the bulls test a higher high at $0.137. As a result, we anticipate VET/USD to continue rising and possibly touch $0.14 next.

VeChain Price Analysis: VET swiftly moves above $0.135 resistance and tests $0.137 1

Cryptocurrency Heatmap by Coin360

According to the Coin360 cryptocurrency heatmap, the overall market is trading in the red zone with Bitcoin shedding 2.92 percent and Ethereum dropping by 0.34 percent. The best performer of the day is Solana after it crossed the $200 psychological support.

VeChain price movement in the last 24 hours: VeChain breaks above the previous high at $0.135

The coin experienced a 24-hour trading volume of $89,500,000 VET/USD, with prices ranging from $0.1291 to $0.1370 over the period. Volatility has increased significantly in the past 24 hours, with volumes up by 94.63 percent and totaling $640.6 million, while the overall market cap has increased by $2.5 billion to $1,744.36 billion total market capitalization.

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

On the four-hour chart, we can see that the VeChain price is still pushing higher, which will most likely lead to a test of $0.14 resistance later today.

VET/USD 4-hour chart. Source: TradingView

Vechain’s price has gradually increased in recent weeks as bearish pressure has returned, preventing strong higher highs from being set. VET/USD rose to $0.115 on the 1st of October following an early rally.

Following the $0.26 low, VET tumbled through $0.11 before rallying strongly to hit $0.123 and then retracing more than 15% in a matter of minutes to $0.103.

On April 7, VeChain’s price climbed back to the $0.123 high, with additional modest highs established throughout the week. VET/USD retreated and formed a higher low over the weekend, at around $0.115.

After a period of consolidation, the price moved higher until yesterday, when it began to climb rapidly, reaching $0.128. VET climbed further today, rapidly increasing over $0.128.

VeChain Price Analysis: Conclusion

VET is on the rise this morning, with a solid increase over the last 24 hours pushing VET above $0.135, which is just below its previous high. As a result, we anticipate VET/USD to test the $0.14 psychological support later today.

While waiting for Vechain 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.

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.