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VeChain Price Prediction: VET below resistance at $0.116, set for a breach?

TL;DR Breakdown

  • VeChain price prediction is bullish for today, up by 5.57%.
  • VET/USDT found the nearest resistance at $0.116 price level.
  • Major support is present at $0.09494.

VeChain price prediction for today is bullish as the price of the coin is up by $5.57. According to the data presented by Coinmarketcap, the trading volume for the cryptocurrency fell by almost 35.41 percent. VeChain’s market dominance states a value of 0.35 while the market capitalization has risen by 7.45 percent.

According to the 1-day price charts, today’s nearest support zone for the VET/USDT pair is found at $0.09494, the resistance being at $0.116. If the bulls continue to take the market upwards, we might see this price resistance getting breached.

Considering the price movement of Bitcoin, BTC/USDT pair has reached the 48K USD price level. After breaching the resistance at $42.5K, we saw the bulls take over the BTC price momentum. If Bitcoin is able to retain this price level, “Uptober” can be confirmed.

VeChain price movement in recent days

The be more accurate with the VeChain price prediction, it is important to analyze the price action for VeChain in the past few days. In the 1-day chart for VET/USDT price, we can see four consecutive green candles.

For today, the highest price achieved was $0.116, while the lowest price was $0.105. On October 1st, the price action saw a surge of 12.78 percent, while on the last day of September, a surge of more than 13 percent was witnessed.

VeChain is on our list for the next cryptocurrency to become a 10x or 100x coin. It has the potential to perform well and looking at the recent price movement, this bullish pattern can be confirmed.

VeChain price prediction: Technical indicators are very bullish

Our VeChain price prediction is certainly bullish as the current analysis shows that the bulls have conquered the 100-day Moving Average. The next stop is the 50-day Moving Average which will be conquered soon.

The price momentum has surged on the 1-day chart and is now present in the upper end of the Bands. If this price level is maintained, higher prices and a breakout from the upper end are certainly possible.

VeChain price prediction on the 1-day chart by TradingView

The RSI levels on the 1-day chart have now turned bullish. On the 1-day chart below, the RSI lines are just below the 60-range. This means that the buying pressure has succeeded the selling pressure, and the prices aim for the overbought region, i.e., beyond 70.

The blue MACD line has surged above the orange signal line. From September 7th, the price action has been bearish as the MACD line stayed below the signal line. A bullish crossover on the 1-day chart means bulls have taken charge.

VeChain price prediction on the 1-day chart by TradingView

VeChain price prediction: Conclusion

The conclusion of our VeChain price prediction is certainly on a bullish note. Bitcoin is nearing the $50K resistance zone. With the current bullish price action, there is a huge possibility that BTC will be at an all-time high at the end of the month. Hence, VeChain might also reach a new all-time high soon.

For a long-term VeChain price prediction, visit our VeChain prediction.

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.

This post was last modified on October 3, 2021 8:29 pm

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

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