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- 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%
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.
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
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
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
