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VeChain Price Analysis: VET swiftly moves higher, $0.103 previous high targeted next

VeChain Price Analysis

TL;DR Breakdown

  • VeChain price analysis is bullish today.
  • VET/USD saw bullish momentum return overnight.
  • VET looks to break $0.103 next.

VeChain price analysis is bullish today as bulls have already set a higher high above $0.095 after a strong bullish move overnight. Therefore, we expect VET/USD to move higher and break above the next resistance of $0.103 next.

VeChain Price Analysis: VET swiftly moves higher, $0.103 previous high targeted next 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours, with Bitcoin leading the way with a gain of 3.28 percent. Meanwhile, Ethereum is up by 2.79 percent, while the rest of the top altcoins following.

VeChain price movement in the last 24 hours: VeChain breaks local high at $0.095

VET/USD traded in a range of $0.08588 – $0.101, indicating strong volatility over the last 24 hours. Trading volume totals $575 million, up by 69.22 percent from yesterday. Meanwhile, the total market cap trades around $6.5 billion, ranking the coin in 25th place overall.

VET/USD 4-hour chart: VET looks to break $0.103 next?

On the 4-hour chart, we can see the VeChain price action rapidly advancing this morning, indicating further upside will follow over the next hours.

VeChain Price Analysis: VET rapidly moves higher, $0.103 previous high targeted next
VET/USD 4-hour chart. Source: TradingView

The overall VeChain price action has seen bearish price action over the past weeks. After several days of consolidation above $0.11 in the middle of September, a break lower was seen on the 20th.

VET/USD initially found support at $0.085, with the following reaction setting a lower high at $0.103. From there, VeCahin set further lows at $0.082, with bullish momentum returning yesterday.

VeChain price action has since rallied higher with a steady momentum. The previous local swing high at $0.095 has already been broken without much resistance, indicating we should see more upside over the next 24 hours.

VeChain Price Analysis: Conclusion 

VeChain price analysis is bullish today as a strong push higher was seen overnight, with the previous high broken this morning. Therefore, we expect VET/USD to continue higher over the next 24 hours and break the next resistance at $0.103.

While waiting for VeChain to move further, read our guides on how to create NFT art, NFT marketplaces, as well as Coinbase Wallet review.

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 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.

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