VeChain price analysis: Price flashes to $0.171 as bulls struggle for the lead again

VeChain price analysis Price flashes to as bulls struggle for lead again

TL;DR Breakdown

  • The price has heightened to $0.171.
  • VeChain price analysis confirms bullish trend.
  • Cryptocurrency is supported at $0.120.

The latest VeChain price analysis shows a bullish price movement today. The green candlesticks are seen ruling the price charts for the past few weeks, with unavoidable bearish interruptions. The price is very close to the resistance present at $0.182, and it is expected that it may surpass it in the upcoming weeks. The price has reached its former height, i.e., $0.171, once again because of the uptrend.

VET/USD 1-day price chart: Price drives past $0.17 as bulls find way to recovery

The one-day VeChain price analysis shows signs of an uptrend, as the price has followed an upward movement today. The bulls are taking action once again to regain their leading position on the price charts. Their efforts have been successful so far, as the price increased to the $0.171 level during the last 24-hours. The price is now standing higher than its moving average (MA) value, i.e., $0.165.

VeChain price analysis: Price flashes to $0.171 as bulls struggle for the lead again 1
VET/USD 1-day price chart. Source: TradingView

The increase in volatility suggests that the approaching days might not bring favorable news. The upper and lower Bollinger Bands Indicator’s values have also changed, and now the upper Bollinger band value is $0.182, whereas the lower Bollinger band value is $0.120. The Relative Strength Index (RSI) score is now 64.65 because of the bullish trend.

VeChain price analysis: Reversal in trends expected as price takes downturn at $0.17

The four hours VeChain price analysis dictates an unexpected drop in price in the last few hours. The price has dropped amidst a bullish swing, which was not anticipated earlier by the market analysts. The VET/USD value has moved down to $0.171 as a result of the bearish comeback. The price is still above the moving average value, $0.164, and the Bollinger Bands Average value, i.e., $0.161.

VeChain price analysis: Price flashes to $0.171 as bulls struggle for the lead again 2
VET/USD 4-hours price chart. Source: TradingView

A crossover between SMA 20 and SMA 50 was observed earlier, but the price is backtracking again. The volatility is increasing, and the upper Bollinger band is now touching the $0.171 mark while the lower Bollinger band is at $0.151. The RSI score is relatively high, i.e., 61.05, as the bulls were leading earlier.

VeChain price analysis: Price flashes to $0.171 as bulls struggle for the lead again 3
VET/USD technical indicators chart. Source: TradingView

The last few months proved quite profitable for the overall value of cryptocurrency, as is being predicted by the technical indicators chart. There is a strong bullish signal for the day, as 16 indicators are on the buying side, ten hands are on the neutral, and zero indicators are on the selling side.

The Moving Averages Indicator is giving out a good signal for the buyers as well. There is a bullish hint with 14 indicators standing on the buying place, one neutral position, and zero indicators on the selling place. The Oscillators are confirming an increasing trend as well. There are nine indicators on the neutral side, two on the buying side, and zero on the selling side.

VeChain price analysis conclusion

An increasing trend is observed today for VET/USD, as green candlesticks dominate the price chart. The price has climbed up to $0.171 in the last 24-hours, and further improvement might be on its way. The hourly prediction is not satisfying, as a sudden drop accompanied the price curve but as we know corrections are a necessary part of the market. Nonetheless, today is going positive for the buyers, as a sufficient increase in price is observed.

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.
Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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