VeChain (VET) Soars to $0.03106 Following Bullish Run

  • VeChain price sees upside movements.
  • VET price faces resistance near $0.03245.
  • VET/USD support stands at $0.02978.

VeChain price presents a bullish bias following upside actions towards the $0.0312 high. For now, the altcoin encounters resistance at $0.03245. Overcoming the hurdle will see VET extending its leg up towards $0.03400. Though the alt suffered bearish tendencies within the past couple of days, market sentiments can remain bullish within the coming few hours.

The alt gained more than 1.76% within the past day and seemed primed for more uptrends. For now, VET has its market cap at $2,006,801,533.71. On the other hand, the 24hr trading volume hovered at $188,510,247.

1Day Timeframe: VET Prices Consolidate Near $0.0312

The daily chart shows VeChain on a massive upside trend. The altcoin has seen impressive performance since the month started, making higher lows and higher highs. Meanwhile, VET secured support at $0.02978 and has rebounded from the area twice. For now, the value area represents massive support for the alternative token.

The Moving Average Convergence Divergence (MACD) hovers inside the bullish territory, while the Signal line swayed beyond the histogram. Such readings confirm VET bulls are in control of the market. The Relative Strength index stayed at 65.89, exhibiting zero bearish divergence signals.

For now, VET/USD trade at $0.03096 and is ready for more upsurges. The token will discover a hurdle within the $0.03245 mark. Overcoming this area will catalyze bullish actions towards $0.03400. Meanwhile, the 200-day MA maintains an upside slope at $0.02887, suggesting long-term bullishness.

Also, VET’s market volatility noted increases within the past couple of days, and consolidations might appear at current price territories in the coming few hours. Nevertheless, nothing is a guarantee in the crypto world. Weak tendencies would see VET exploring the resistance at $0.02978, beneath which it will crash towards $0.02800.

Final Thought

VeChain price outlook reveals the asset on upside trends, with the current resistance at $0.03245. Overpowering this obstacle would lead to extended bullishness towards $0.03400 in the coming few hours. The market will likely witness some buying momentum around current value areas. A move beyond $0.034 would cancel bearish cases for VeChain.

Leave a Comment