- Vechain is relentless on its bullish momentum, which started on JAN 31,2021
- VET price made an all-time high of $0.03826 in today’s trading session and currently trading at the value of $0.03769 with an intraday gain of 13%
- VET/BTC pair is trading at the value of 0.0000008084 BTC with an intraday gain of 5.26%, breaking the 50MA resistance
The weekly chart of Vechain highlights a strong bullish momentum in today’s trading session. While the current price of VET is $0.03751, with the major resistance placed at $0.04258; meanwhile, major support is at $0.03416. The volume of VET is around the value of $736,344,315, with a gain of 25.65%. and market capitalization at $2,455,411,373, with a gain of 12.86%.
The talk about the Vechain being used in agricultural products has made it reach an all-time high.
Vechain (VET) Majority of Holdings
Major Vet coin holders, which have more than 12% percent of circulating supply, have seen no change in last week. The only cold wallet which has seen a decrease in the supply is Binance while the other major holders have increased their stakes in their wallets. Moreover, the overall holding pattern represents the trust of investors in the crypto assets. VET is also gaining popularity in social media.
Vechain (VET) Technical Analysis
Vechain coin has made an all-time high in today’s trading session and reached the value of $0.03826. Furthermore, VET price can retrace back to the level of 0.618fib, and on the upside, it can face the resistance at the value of 1fib. VET is trading above the 50 and 200 Exponential Moving Average. The 50 EMA blue line is at the value of $0.0324, making it temporary support. The coin has formed a bullish engulfing pattern, which showcases that the price can continue the uptrend.VET/BTC pair has broken the temporary resistance level of 50EMA and is heading to a new high.
RSI(Bullish): It is currently trading at the value of 66.12, showcasing its presence in the overbought zone. A positive slope is formed in the RSI, which highlights that the price can move further upwards. The overall sentiment of RSI is bullish.
Conclusion
Vechain has gained popularity among investors due to its real-world application in supply chain management. The technical indicators are in favor of the coin.VET/BTC pair has broken the temporary resistance and can head to a new high in the upcoming trading sessions.
Technical Levels
Major Resistance :$0.04258
Major Support:$0.03416