- Vechain coin over the monthly chart is heading towards the primary supply zone after a sharp rally from the lower levels.
- Currently, the VET Bulls are heading towards the critical resistance zone and place above its all vital moving averages of 20, 50, 100, and 200-day lines.
- The pair of VET/BTC is trading at 0.000002239 BTC with an intraday gain of +2.62%, and the ratio of VET/ETH is CMP at 0.00003331 ETH with a minor 24-hour change of +0.63%.
Vechain coin is currently testing its critical supply zone or rejection zone after a good recovery from the lower levels. Meanwhile, the coin is presently placed above its vital moving averages of 20, 50, 100, and 200-day lines. Volume over the monthly chart is lower and needs to grow strongly in upcoming trading sessions. Similarly, the short-term moving averages are overpowering the medium to long-term moving averages and creating a solid positive rally.
The sustainability above its all vital moving averages, with supportive volume activity, will boost more upside. Support on the lower side is $0.1110 and $0.10000, whereas resistance on the higher side is $0.1440 and $0.1570.
Vechain coin at the weekly time frame is trading on the bullish note
Vechain coin at the weekly time frame is trading on the bullish note, while the price is making higher highs and lows. Meanwhile, the technical parameters indicate slight caution for long positions. Volume over the chart is lower and needs to improve sharply for sustainability on the higher side. VET price is trading at $0.1370 with an intraday gain of +3.86%, and the volume to market cap ratio is 0.06333.
Relative Strength Index (CAUTION): Vechain coin RSI is heading towards the lower zone at the weekly chart. In contrast, the coin is trading near the rejection zone of the chart pattern and projects slight caution with longs, RSI at 61.
Moving Average Convergence Divergence (MIXED): The daily chart projects a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overlaps the seller’s line (red), with no sign of any significant move.
Support levels: $0.1110 and $0.10000,
Resistance levels: $0.1440 and $0.1570.