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- 1 VeChain price prediction suggests that VET crypto price might revert back from the current level.
- 2 VET crypto price has been trying to remain above 50 and 100-days Daily Moving Average while already slumped below 20 and 200-days DMA.
- 3 VeChain price got rejected from the distribution phase through the declining streak.
VeChain price prediction showcases that VET price might recover back through its rally during 2023. VET crypto price needs to sustain at the current level to initiate its recovery phase over the daily time frame chart. VeChain price got reverted back from distribution level and declined more than 15%. However, VET crypto price managed to sustain at the current level and is trying to retain its position towards the distribution phase. Investors in Vechain might expect an upcoming rally of VET crypto price during 2023 as analysts also speculated the same.
VeChain price was at $0.024828 and has gained 1.43% of its market capitalization during the day’s trading session. Trading volume has increased by 28.84% during the intraday trading session. This demonstrates that VET crypto price might get desired support from buyers. Volume to market cap ratio was at 0.02675.
VeChain price prediction suggests the uptrend momentum of VET crypto price over the daily chart. However, trading volume is still below average and needs to grow for VET to adapt the recovery momentum. Meanwhile, VET crypto price has been trying to remain above 50 and 100-days Daily Moving Average while already slumped below 20 and 200-days DMA.
Vechain price has gained around 2.58% in the period of a month. While the quarterly report for VET crypto is positive with estimated growth of around 28.23%. Moreover, VeChain price has gained 56.62% year to date. Confirming the speculation regarding VET crypto’s maximum recovery and the rally during 2023.
VeChain Price Prediction: Technical Analysis
Vechain price prediction confirms the facts regarding VET crypto’s maximum recovery and the upcoming rally in 2023. Technical indicators are being pretty divergent over Vechain price.
Relative strength index showcases the upside momentum of VET crypto price. RSI was at 45 and is about to cross neutrality to be overbought. However, MACD exhibits the downtrend momentum of VET crypto. The MACD line below the signal line after a negative crossover. Investors in Vechain price need to sustain and initiate its rally during 2023.
Summary
VeChain price prediction showcases that VET price might recover back through its rally during 2023. Vechain price has gained around 2.58% in the period of a month. Vechain price prediction confirms the facts regarding VET crypto’s maximum recovery and the upcoming rally in 2023. Technical indicators are being pretty divergent over Vechain price. Investors in Vechain price need to sustain and initiate its rally during 2023.
Technical Levels
Support Levels: $0.0239946 and $0.0226818
Resistance Levels: $0.02596 and $0.02858
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
