- Vechain price rally heading towards the benchmark of $0.20 with a strong up trend over the monthly chart
- The coin is placed above all the major moving averages of 20,50,100 and 200-day and following the rising channel pattern
- The pair of VET/BTC is also trading on a bullish note, which is placed above all major DMA`s standing at 0.000002941 BTC with intraday gain of +15.47%
Vechain price trading on strong bullish momentum with the rising channel pattern. However, VET now reached the higher end of the rising channel pattern and a retracement is expected in the down side. The overall trend is still bullish and the volume also indicates some weakness can come. Similarly the coin is successfully placed above all the major and important moving averages of 20,50,100 and 200-Day. Whereas a short term support line on the lower side can be considered as 20-DMA, support of $0.1270 and $0.1000. Meanwhile resistance on the higher side is placed at $0.1940 and $0.2100.
Vechain price over the weekly chart is now indicating profit taking can come, as the indicator indicating some weakness over the chart. A healthy retracement is expected, which is healthy for upcoming trading sessions, currently VET is trading at a price level of $0.1825 with intraday gain of %9.35. Volume traded in the last 24-hour jumped nearly +26.07% standing at $3,182,162,818, while total market capitalization stood at $11,729,945,423 with intraday increment of +9.79%.
Relative Strength Index (BEARISH) indicates bearish momentum while trading at 75.62. However, it is heading towards the oversold zone after testing the over brought zone.
Moving Average Convergence Divergence (BEARISH) currently indicates a bearish trend on the daily chart, as it is trading with the significance of the buyer’s signal line (green) over the seller’s line (red). Meanwhile both the lines are heading closer to each other and the crossover can generate bearish momentum.
Support levels: $0.1270 and $0.1000
Resistance levels: $0.1940 and $0.2100.