- VET price has seen an end of Elliott corrective wave and can continue further up.. Meanwhile, the VET/BTC pair sees a bearish momentum with a loss of 1.11%.
- Vechain has made significant progress in the agricultural supply chain. In contrast, it has seen a gain of more than 900% from the start of the year.
VET price is currently at $0.1906 with a gain of 7.50% in the intraday session. On coming to the daily chart there is a formation of Elliot corrective wave. VET price has seen the end of the corrective wave and now it can move towards a new high. It can also see a reversal if there is a formation of truncated wave.
VET is currently ranked 14th , with a market capitalization of $16,528,487,343. The volume ($2,997,936,357) of the coin has increased by 59.55% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 0.244. If the ratio crosses above 0.75 then a strong bullish momentum can be seen.
Technical Indicators Suggests An Uptrend For VET Price
The weekly technical chart for VET showcases a bullish momentum. VET shows signs of bullish momentum on coming to the daily chart with the end of the corrective wave . The coin’s resistance on the upside will be at $0.25, and on the downside, it will see a bounce back from $0.15. VET price is currently inside a accumulation zone on the 4 hour chart. If the price breaks 15% above the zone, then a strong bullish momentum up to the point of $0.5 can be seen. VET/BTC pair is also seeing consolidated momentum but can soon see a new highs being formed.
RSI(Bullish): It is currently trailing at 48.98, showcasing its presence in the neutral zone. There is positive slope formation in RSI, which suggests bullish momentum. The overall sentiment of the RSI is bullish.
Conclusion
VET price has always filled its investors pocket with great profits. It can continue to do the same in the future. Vechain has seen a gain of more than 900% from the start of the year. An Investor can expect similar type of gains in upcoming months.
Technical Levels
Major Support:$0.15
Major Resistance:$0.25