- VET Token price action projects a bullish uptrend as it rises with most of the crypto market.
- VET Token price trades above all the crucial EMAs in the daily chart.
- The pair VET/BTC is trading at 0.000002269 BTC with an intraday gain of +9.04%.
VET token price action shows a bullish engulfing candlestick in the daily technical charts, which indicates increased underlying bullish sentiments. In addition, the price is now closer to the $0.12 mark, indicating that the bull run is solid and fast.
The intraday volume has risen above the 20-days volume MA, indicating that there is more buying pressure. In addition, the bullish alignment of the daily EMAs means that they rise higher, indicating a bull run.
VET Token trades at $0.1074, an increase of +19.12% market capitalization over one day. This suggests that the price is on a bull reversal. Moreover, VeChain’s intraday trading volume has increased by around 120%.
VET Token Trend Rises With High Momentum
VET token prices action denotes a sudden rise in bullish sentiments. The continuous formation of the bullish engulfing candlestick in the 4-hour chart. The price breaks above the $0.10 mark, and it may continue to head higher.
According to price action, demand levels for the token are at the $0.10 and $0.085 mark. As a result, bulls could encounter resistance at $0.12 and $0.15 if the bullish trend persists from either resistance level.
The EMAs on the technical chart for the 4-hour chart are more powerful, as the price breaks above the 200-period EMA. Furthermore, the dips to the 200-period EMA can be seen as a buying opportunity.
The RSI indicator indicates a sudden rise in underlying bullish inclinations. Furthermore, the RSI slope rises towards the overbought zone in the daily chart.
The ADX indicator indicates a rise in trend momentum.
Conclusion: The VET token’s price has been rising higher in the past few sessions in the 4-hour chart. Moreover, the price breaks above the 200-day EMA in a shorter timeframe. Therefore, it can shortly retest the bullish breakout before continuing the trend.
Support – $0.10 and $0.085
Resistance – $0.12 and $0.15