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Vechain price analysis: VET/USD nears the $0.0800 mark

VET

TL;DR Breakdown

  • Vechain price analysis is bullish today.
  • The strongest resistance is present at $0.0954.
  • The strongest support is present at $0.0725.

The Vechain price analysis shows that the price of VET/USD has suffered devaluation over the past few days. The price had exceeded the $0.0820 mark after reaching $0.0831 on January 13, 2022, followed by the cryptocurrency suffering a flash crash on the same day, which further declined the price of VET to $0.0768. The price stabilized for a while, regained some of its lost value today on January 14, 2022, and reached $0.0798, which is the current price of Vechain.

VET/USD 4-hour price analysis: Recent Developments

The Vechain price analysis has revealed market volatility following a declining movement which means the cryptocurrency’s price is becoming less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be closing the gap between them, indicating decreasing volatility. The upper limit of the Bollinger’s band is present at $0.0838, which acts as the strongest resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0725, representing the strongest support for VET.

The VET/USD price appears to be crossing under the Moving Average curve, signifying a bearish trend. The price path appears to be moving upwards, indicating that it will soon cross the curve of the Moving Average. As the volatility decreases, the bulls gain a strong chance of countering the bears, and if they seize this opportunity, they may engulf the market.

Vechain price analysis: VET/USD nears the $0.0800 mark 1
VET/USD 4-hour price chart source: Trading view

The Vechain price analysis reveals that the Relative Strength Index (RSI) is 54, which puts the cryptocurrency on neither extreme; the value falls in the upper neutral zone. The bears currently dominate the market. The RSI appears to be following an upwards approach that reflects the value of the cryptocurrency slowly experiencing increment in its value. The RSI score increases because the buying activity heavily outweighs the selling activity. A reverse trend is most probable.

Vechain Price Analysis for 1-day: Market closes volatility

The Vechain price analysis shows market volatility following a slightly decreasing trend. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction the volatility does; less volatility means less vulnerability to change. The upper limit of the Bollinger’s band exists at $0.0954, which acts as the strongest resistance for VET. The lower limit of the Bollinger’s band is available at $0.0709, representing the strongest support for VET.

The support and resistance bands appear to be near each other, indicating a tight market, which signifies a squeeze. The market appears to be slightly expanding. It seems the squeeze is getting loose.

The VET/USD price appears to be crossing over the Moving Average curve, indicating a bullish trend. The price path can be observed to be following a linear movement, which will maintain the bullish trend.

Vechain price analysis: VET/USD nears the $0.0800 mark 2
VET/USD 1-day price chart source: Trading view

The Vechain price analysis reveals that the Relative Strength Index (RSI) is 44, which means that the cryptocurrency shows no signs of being undervalued. Vechain fall in the lower neutral zone. The RSI appears to be following an upwards movement that reflects an inclining market trend and movement towards stability. The buying activity outweighing the selling activity causes an increment in the RSI score.

Vechain Price Analysis Conclusion

The Vechain price analysis concludes that the cryptocurrency shows bullish momentum with little bearish opportunities. The price reached $0.0831 on January 13, 2022; however, the price has been struggling even for the $0.0800 mark now. The price has been fluctuating. The current price of Vechain is $0.0798. The analysis has shown us that Vechain will soon fully enter the bullish zone, and the price will rise. Now is a good time to buy.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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