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- 1 VeChain price prediction showcases the consolidation phase of VET crypto.
- 2 VET crypto is trying to sustain at 20, 50 and 100-days DMAs to reach the 200-days daily moving average
- 3 The pair of VET/BTC was at 0.0000006529 BTC with an intraday gain of 1.04%.
VeChain price prediction showcases the struggle of VET crypto to register its breakout from the primary resistance level. VET crypto needs to attract buyers in order to surge out of the neckline. Moreover, VeChain price has been facing sustainability issues to register its breakout as sellers have been trying to pull VET cryptocurrency towards the lower levels. Investors in VeChain crypto need to wait until the VET crypto price sustains at the neckline over the daily time frame chart.
VeChain’s price was $0.0195380 and rose by 1.40% over the course of the day’s trade. Trading volume grew by 17.45% during the intraday trading session. This implies that buyers are attempting to record the breakout of VET cryptocurrency over the daily chart. The ratio of market capitalization to volume was 0.0247.
Will VeChain Price Sustain or Get Detained?
According to VeChain price prediction, the token’s recovery phase began when it left the major resistance level. VET coin must maintain its present rate of accumulation in order to stay on the periphery of the horizontal range-bound region. The VeChain cryptocurrency has increased by about 23.56% so far, which suggests that 2023 may see the greatest comeback.
In addition, the cost of VeChain rose by roughly 0.39 percent in a week and 18.5 percent in a month. This shows that 2023 will see the greatest comeback for the VET coin.
Technical indications on the VET price chart indicate an upward trend. The relative strength indicator indicates that the price of VeChain is increasing rapidly. The RSI was getting close to the overbought zone at 55.
The rising momentum of the VeChain price may be seen in MACD. A positive crossover between the MACD and signal lines is about to occur. Investors in the VET coin must hold off until the price of the cryptocurrency maintains its current price and continues to rise.
Summary
VeChain price prediction demonstrates VET’s difficulty in breaking through the main resistance level. For VET coin to continue to accumulate at its current rate, it must remain outside the bounds of the horizontal range. A week later, and a month afterwards, VeChain’s price increased by around 0.39 percent and 18.5 percent, respectively. The VET price chart’s technical indicators show a rising trend. Investors in the VET coin must wait until the cryptocurrency’s price maintains its present level and keeps rising.
Technical Levels
Resistance Levels: $0.02032 and $0.02285
Support Levels: $0.018929 and $0.018450
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.
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.
