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VeChain price analysis: VET shows positive potential at $0.048

VET

TL;DR Breakdown

  • VeChain price analysis is bearish today.
  • The strongest resistance is present at $0.069.
  • Trading price of VeChain is $0.048.

The VeChain price analysis shows that the price of VET/USD has followed a strong upwards trend in the last 24 hours. The price has continued a positive movement, increasing significantly, barely shying away from the $0.050 mark. Although the market’s direction is bearish, the cryptocurrency appears to move upwards. Today, on February 23, 2022, the cost of VET has been up 6.35% in the last 24 hours, with a trading volume of $276,424,100. Being #41 in the cryptocurrency ranking with a live market capital of $3,166,116,651.

VET/USD 4-hour price analysis: Latest developments

The VeChain price analysis has revealed market volatility following a declining movement, closing the market, making the cryptocurrency’s price has become less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be moving towards each other, indicating declining volatility. The upper limit of the Bollinger’s band is present at $0.051, which acts as a strong resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.044, representing the strongest support for VET.

The VET/USD price seems to be crossing over the Moving Average curve, indicating a bullish trend. Furthermore, the price path appears to follow an upward direction towards the resistance. Finally, the price might meet the resistance and reverse the market entirely.

VeChain price analysis: VET shows positive potential at $0.048 1
VET/USD 4-hour price chart source: TradingView

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 47, representing a stable cryptocurrency; the value is present in the lower neutral region. Furthermore, the RSI appears to be following an upwards approach that reflects the value of the cryptocurrency increasing and the dominance of buying activity.

VeChain price analysis for 1-day: Market shows positive dynamics

The VeChain price analysis shows the market experiencing a squeeze, which is opening up, increasing the volatile properties of the market. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction as volatility; more volatility means more probability of the price shifting to either extreme. The upper limit of the Bollinger’s band exists at $0.069, which acts as the strongest resistance for VET. On the other hand, the lower limit of the Bollinger’s band is available at $0.044, representing the strongest support for VET.

The VET/USD price seems to be crossing under the Moving Average curve, indicating a bearish trend. Furthermore, we can observe the price path following an upward movement, which may mean bullish momentum can be resurrected. Moreover, the price is gaining momentum and moving towards a stable position to anchor itself.

VeChain price analysis: VET shows positive potential at $0.048 2
VET/USD 1-day price chart source: TradingView

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 38, which means that the cryptocurrency shows undervalued signs. VeChain falls in the devaluation region. The RSI follows an upwards movement that reflects an increasing market. The buying activity is starting to exceed the selling activity causing the RSI score to experience increment.

Vechain Price Analysis Conclusion

The VeChain price analysis concludes that the cryptocurrency shows bearish momentum with massive bullish opportunities. The price has reached $0.049 on February 23, 2022, and is currently moving towards the $0.050 mark. The current price of VeChain is $0.049. It seems the bears control the market, but the bulls are showing good dynamics so that the market can be reversed at any time.

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.

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