• 1 At the major resistance level of $0.0197264, the VeChain price projection highlights the token’s sustainability problems.
• 2 VET crypto is trying to sustain above the 20 and 50-EMAs to surge above the 100 and 200-days Daily Moving Averages.
• 3 The pair of VET/BTC was at 0.0000006512 BTC1.18% with an intraday drop of 1.18% at the time of writing.

VeChain price prediction shows the token is in a recovery phase and is fighting to hold near the main resistance line on the daily chart. In order to record its breakout, the VET cryptocurrency must keep up its upward velocity. However, sellers could attempt to drag down VET cryptocurrency. For VET to record a breakout, the trading volume must increase from its current average level. With a cumulative gain of 5.00% over the past week, VeChain has done admirably.

VeChain’s price was $0.01974100, and throughout the day’s trading session, it increased by 0.50%. However, during the intraday trading session, trading volume fell by 27.74%. This suggests that short VET cryptocurrency sellers are getting close. The market cap to volume ratio was 0.0232.

Will VeChain Price Make or Break?

The token’s recovery phase started when it left the primary resistance level, according to VeChain price predictions. VET cryptocurrency needs to continue accumulating at its current rate in order to remain on the edge of the horizontal range-bound region. To date, the VeChain cryptocurrency has grown by roughly 25.04%, which indicates that the crypto’s biggest recovery could be witnessed in 2023.

Additionally, the price of VeChain has increased by around 5.00% in a week and 32.39% in a month. This demonstrates that the highest recovery for VET cryptocurrency will occur in 2023.

The price chart for VET shows an upward trend according to technical indicators. The price of VeChain is rising quickly, as shown by the relative strength indicator. At 52, the RSI was approaching overbought territory. 

VeChain price’s growing momentum is visible in MACD. After a positive crossover, the MACD line is higher than the signal line. Investors in VET cryptocurrency must wait until the price of the cryptocurrency holds at the main resistance level and keeps rising.

Summary

VeChain price prediction shows the token is in a phase of recovery and is fighting to hold near the main resistance line on the daily chart. To date, the VeChain cryptocurrency has grown by roughly 25.04%, highlighting to the investors that its biggest recovery is planned for 2023. The cryptocurrency chart for VET shows an upward trend according to technical indicators. Investors in VET cryptocurrency must wait until the price of the cryptocurrency holds at the main resistance level and keeps rising.

Technical Levels

Resistance Levels: $0.02035 and $0.02135

Support Levels: $0.01899 and $0.01840

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.

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.