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- 1 VeChain price prediction showcases the token’s sustainability issues at the primary resistance level of $0.019744.
- 2 VET crypto is trying to sustain above the 20 and 50-EMA to surge above the 100 and 200-days Daily Moving Averages.
- 3 The pair of VET/BTC was at 0.000000634 BTC with an intraday gain of 5.77%.
VeChain price prediction indicates the token’s recovery phase and the struggle to sustain near the primary resistance line over the daily chart. VET cryptocurrency needs to maintain the uptrend momentum to register its breakout. However, sellers may try to pull VET crypto downwards. Trading volume is below average and needs to grow for VET to register its breakout. VeChain has performed well during the last week with a total gain of 22.31%.
VeChain price was at $0.01910100 and has gained 0.74% of its market capitalization during the day’s trading session. Trading volume went up by 2.94% intraday showing that buyers want to see a breakout in the VET cryptocurrency price chart. The volume to market cap ratio was 0.0379.
VeCHain Price Prediction: Technical Analysis – Breakout Expected?
VeChain price prediction suggests that the token’s recovery phase moved out of the primary resistance level and initiated its recovery phase. VET crypto needs to maintain the current accumulation rate in order to sustain at the verge of the horizontal range-bound area. Meanwhile, VeChain cryptocurrency has gained around 20.79% year to date, highlighting its maximum recovery in 2023 motto to investors.
In addition, the VeChain price has surged around 22.31% in a week and 21.48% in the last six months. This confirms the fact regarding VET crypto’s maximum recovery during 2023.
Technical indicators suggest an upside trend on the VET cryptocurrency chart. Relative strength index showcases the upward velocity of VeChain price. RSI was at 64 and is heading toward the overbought territory.
MACD exhibits the rising momentum of the VeChain price. The MACD line is above the signal line after a positive crossover. Investors in VET crypto need to wait until the crypto price sustains at the primary resistance level and continues to surge.
Summary
VeChain price prediction indicates the token’s recovery phase and the struggle to sustain near the primary resistance line over the daily chart. VET crypto needs to maintain the current accumulation rate in order to sustain at the verge of the horizontal range-bound area. Technical indicators hint at an upside trend for VET cryptocurrency. Investors in VET crypto need to wait until the crypto price sustains at the primary resistance level and continues to surge.
Technical Levels
Resistance Levels: $0.019744 and $0.0210
Support Levels: $0.0185 and $0.0170
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 stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
