Vechain Price Analysis: VET Price Looking For A Big Move

Vechain is currently seeing a bullish move and is expected to remain in same trend
  • Vechain failed to sustain at $0.08 and fell to $0.072 on Tuesday’s trading session
  • Elliot wave indicates a correction upto $0.06 with a completion of the 4th wave.
  • VET/BTC pair was trading at 0.000001375 BTC with a gain of 10.88%
Source:Trading view

Vechain has made an all time high on Mar,15 2021 and is currently on a bullish trend.The daily chart of the VET highlights that 3rd Elliot wave is coming to an end. The 4th wave can see a correction upto $0.06 before jumping for a new highs. There is a also a possibility that the 3rd wave can sustain more before correction

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (Red) moves above the SMA-100 (Green), which projects a positive trend. Investors can observe the continuation of a positive trend.

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The volume of VET is around the value of $1,842,983,110 with a gain of 108.29%. and market capitalization at $5,037,680,592, with a gain of 9.5%.

Technical Indicators Suggest A Bullish Move For VET Price

Source:Trading view

Vechain price is at $0.078 with a bullish move. According to fibonacci levels, VET critical support level is placed at 0.786 fib. Whereas if it moves up, the key resistance level to watch is 1 fib. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish doji candlestick pattern, which represents a potential reversal in an uptrend.The coin can also see a reversal in the upcoming days.

RSI indicator (BULLISH), with a value of 67.24 indicates a buy signal in the coin, investors can observe an increase in value in upcoming trading sessions. Investors can hold the asset for the big profits

CONCLUSION

Vechain is currently trading  at $0.076  with a gain of 7.56% in the last 24-hour time-frame. On the weekly time-frame, VET is maintaining a gain of 14.31%. There can be a 20% gain on the upside if traded carefully.

Technical Level

Resistance: $0.085

Support: $0.065

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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