VeChain (VET) Making Progress With Gradual Rise In Prices

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • VeChain has an acquired bullish outlook and staking a very positive climb in the prices.
  • Even though prices are rising, there are slight fluctuations in them due to the current global market factors.
  • The VET/BTC pair is also performing negatively and suffering the loss of -2.68 % bringing the levels to 0.00000043.

The  VET prices are having an upsurge but they are still felling the resistance as today even after making a gradual climb price stumbled upon the level of  $0.00290.

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As prices are about to reach the price level of 0.00300.  This is the third time prices are climbing up to acquire this price level. They want to achieve this level due to its importance regarding the further climb. The level of 0.003 is not in the VET’s favor as prices fall below twice even after crossing it.

After acquiring the support of  $0.0027 prices were able to make a stand but now they should also develop a strong support level near $0.0028.

Currently VETs’ market capitalization is $160,867,641 USD with volume traded of $92,391,546 USD and  circulating supply of 55,454,734,800 VET.

VEchain
Source:tradingview

The VeChain price chart reflects that the bullish momentum making is trying to make a stronghold but there are lots of fluctuations. At a slow and steady pace prices are climbing up but they are struggling against this volatility.

The technical indicators and oscillators are not in vechain price favor as they are showing an increase in the selling volume of a cryptocurrency. 

The MACD levels are trading with bullish momentum, which is a good sign for the VeChain holders. As there is a dominance in the buying volume of a cryptocurrency.

The 24hr-RSI is showing that there is a heavy fluctuation in the prices and they are unable to maintain stability and currently trading between the level of 50 and 40. 

The 24hr CCI made a double wedge pattern and taking a sharp negative divergence to the overselling region.

Resistance Level: $ 0.00320
Support Level: $ 0.00250

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