- Vechain price resumed its uptrend and currently holding short term moving averages of 20-Day over the monthly chart
- Currently, the coin is sustaining above all the critical moving averages of 20,50,100 and 200-Day with good support from volume
- The pair of VET/BTC is currently standing at 0.000003508 BTC with a slightly intraday drop of -0.96%
The Vechain price is now trying to hold the short term moving average of 20-Day, which is a sign that bulls are in action. Meanwhile, if the coin manages to sustain above all the moving averages, we could see positive price action. Similarly, the coin showed a sharp recovery from the low of $0.1330, which indicates the power of bulls. The coin is currently consolidating after recovery, and the volume also shows strong momentum. Meanwhile, support on the lower level is established at $0.1600 and $0.1400. Likewise, the resistance on the higher side is found at $0.2400 and $0.2800, respectively. While the coin is slowly reaching towards the significant supply zone of $0.2550 to $0.2800 and if it suppresses, then a strong momentum till $0.3000 and $0.3400 respectively.
Vechain price over the weekly chart at a 4-hour time frame indicates a choppy or sideways momentum. While we can see the continuation of consolidation in the shorter term and volume over the chart is also good. In the last 24-hours volume dropped nearly -1.25%, standing at $2,016,705,516. Presently VET price is trading at the level of $0.1974 with an intraday gain of +3.77%; whereas, the total market capitalization presented at 14th rank stands at $12,693,652,760 with an intraday gain of +3.24%.
Relative Strength Index (NEUTRAL) indicates neutral or sideways momentum while trading at 51.62. However, moving flat with no significant movement.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a sideways momentum on the daily chart, as it is the buyer’s signal line (green) and the seller’s line (red) overlapping each other.
Support levels: $0.1600 and $0.1400
Resistance levels: $0.2400 and $0.2800.