Vechain Price Analysis: VET Price Made An All Time High Of $0.075

  • Vechain is currently in a uptrend  and made an all time high of $0.075 on Mar 15,2021.
  • Vechain price is currently trailing at the value of $0.07259 with a gain of  9.30% in 24 hour time frame and 18.14% in a week
  • VET/BTC pair is trading at the value of 0.000001228 BTC  with an intraday gain of 13.03%, above the 50MA resistance
Source:Trading view

The weekly chart of Vechain highlights a bullish momentum in today’s trading session. While the current price of VET is $0.07259, with the major resistance placed at $0.08 meanwhile, major support is at $0.065.

The volume of VET is around the value of $853,542,955 with a gain of 20.29%. and market capitalization at $6,259,347,687, with a gain of 8.75%.

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The use of Vechain in supply chain management has made it to reach the higher levels and attracted the big whales in it. 

Vechain (VET) Technical Analysis

Source:Trading view

Vechain coin has made a high of $0.07543 with an intraday gain of 8.79% while a major resistance at $0.08.According to the Fibonacci levels,the resistance of the coin can be seen at the level of 0.075fib.If the price goes in downward direction than the support for the coin can be seen at the level of 0.067fib. Vechain price is trading above the 50 and 100 Simple Moving Average.The 50 MA red line is at the value of $0.045, making it temporary support. The coin is forming a bullish engulfing pattern, which showcases that the price can continue the uptrend.VET/BTC pair is currently near the temporary support level at 50MA and can move either way.  

RSI(Bullish): It is currently trading at the value of 65.72, showcasing its presence in the overbought zone. A positive slope is formed in the RSI, which highlights that the price can move further upwards.It has formed higher lows in a trend and is expected to go higher before retracing back to the trend line.The overall sentiment of RSI is bullish.

Conclusion

Vechain has gained popularity among investors due to its real-world application in supply chain management. The technical indicators are in favor of the coin.VET/BTC pair has broken the temporary resistance and can head to a new high in the upcoming trading sessions.

Technical Levels

Major Resistance:$0.08

Major Support:$0.055

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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