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Vechain price analysis: VET/USD pair bullish for the next 24 hours

VET

TL;DR Breakdown

  • Vechain price analysis is bullish.
  • Price has heightened up to $0.055.
  • Support is stable at the $0.053 level.

Vechain’s chart shows a sharp surge in their price, with over 25% increase in the last 24 hours. Although there is no clear reason why this occurred, it does not change that positive things are happening behind the scenes for Vechain. This is expected to have a positive impact on its value.

VET/USD pair has now broken the downward trend, but it must break through the resistance levels to continue moving upwards. The price of Vechain continues to remain stable at around the $0.053 level. It seems that this is not enough for cryptocurrencies’ volatility, as small changes still cause them to move up and down.

VET/USD 1-day price chart: Bullish trend uplifts coin value up to $0.117 high

The daily chart shows that the price of Vechain has broken through the downward trend, which means that it might be on its way to achieving greater heights (it broke through resistance at $0.053). However, the bullish momentum may slow down after this phase is over. The small details indicate that the price of Vechain will stay around $0.053-$0.055 for a while, but it may increase again after the resistance at this level is broken through.

Vechain price analysis: VET/USD pair bullish for the next 24 hours 1
VET/USD 1-day price chart. Source: TradingView

The most recent Vechain price analysis indicates that there may be another increase in its value after this slight dip. It seems like it has found its current level of stability and will not move too much during the next few days, allowing traders to make an informed decision on whether to buy or sell it.

The most recent Vechain price analysis shows that another phase of increased demand might be coming soon, which means its value will likely continue to rise in the next few days. If the resistance at $0.055 is broken through, it will be a clear sign for another upward movement. In this case, Vechain’s value may rise to around $0.06 or even higher.

Vechain price analysis: Recent developments and further technical indications

On the 4-hour chart, Vechain is well above the resistance at the $0.053 level, which indicates that it will continue moving upwards. The green candlesticks are also prominent on the hourly chart, confirming this positive signal.

Vechain price analysis: VET/USD pair bullish for the next 24 hours 2
VET/USD 4-hours price chart. Source: TradingView

The RSI ells the same story. On the RSI, Vechain is trending above 70, which means it may continue to grow in value for a while. Trading volumes are also decreasing on the daily chart, showing no sign of any big movement soon. The other signal here is that Bollinger Bands are contracting.

The Eliot wave indicator shows that Vechain price is now in a bullish rally and will possibly grow more.

The most recent Vechain price analysis is bullish, as it indicates that the value may increase in the coming days and weeks. Vechain’s value has been on a downtrend for some time now, which may indicate recovery. This recovery should not take to the most recent Vechain price analysis. It indicates that it has started to recover. This will likely continue in the coming days, making our $0.053 level obsolete and switching to a higher resistance at $0.055 or $0.06.

The volatility in the cryptocurrency market is so high that any minor fluctuation can cause Vechain’s price to drop or rise suddenly. There are also times when there seems to be no explanation for its movement, like what happened recently. Many traders assumed that this would be an excellent opportunity to trade Vechain. The price began to drop following the rest of the market, but eventually, it completely reversed in a short period.

Vechain price analysis: Conclusion

Based on the VET/USD daily chart, it seems that this upward trend will continue for a while. The cryptocurrency market is now gaining momentum due to increased buying volume, and there may be another increase in demand soon.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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