- The trading volume of the VeChain Coin in the last 24-hr at the time of writing this article is -12.80%
- The price of VET/BCT and VET/ETH at the time of writing this article is 0.000002255 BTC and 0.00003331 ETH
- The price is near the resistance
LONG TERM VIEW:-
In the daily time interval we can see that the price is near resistance and the bears are giving a huge pressure as the price is not able to break the resistance.
Let’s have a look at the technical analysis to see if the price is able to break the resistance or not. Firstly, we can see the MACD which is showing Green histogram as the MACD line is above the signal line and there is no sign that the lines will change their direction.
In addition to that, we can see the RSI is in the neutral zone near the 68 and the RSI line is pointing towards the overbought zone of 70 meaning the bulls are winning the fight against the bears. Lastly, we can see the Moving average as the 20MA is above the 50MA and 100MA as the 50MA is above the 100MA.
SHORT TERM VIEW:-
In the 4hr time interval we can see the price is taking a huge support on the 20MA and the price is near resistance looking at the MACD which is showing green histograms as the MACD line is above the Signal line and the MACD line is parallel to the Signal line.
In addition to that we can see the RSI is in the neutral zone near the 64 and the RSI line is pointing towards the overbought zone of 70 which means the bulls are winning the fight against the bears. Lasty we can see the 20MA is above the 50MA and 100MA, as told we can see the price is taking the support on the 20MA
CONCLUSION:-
Looking at the both long term and short term we can see the price is near resistance and the bulls are winning the fight against the bears, so the price can break the resistance if the bulls keep this volume. And after that the price can consolidate and sustain at the support.
RESISTANCE:- $0.1456, $1537
SUPPORT:-$0.1285,$0.1224