- The 20-day EMA is providing strong dynamic support to the VET coin price
- The VET/BTC pair was trading at 0.000002551 BTC with a gain of 5.87%
- The 24hr volume for the VET coin is $1.52 Billion, indicating an 85.2% hike
As mentioned in my previous article on VET, The coin chart provided an excellent long opportunity for crypto traders when its price breached the $0.128 neckline of the inverted and shoulder pattern of the daily time frame chart.
Furthermore, the price retraced back to retest this level, and on October 28th, the price initiated a news rally from this level. This rally is currently trying to breach the previous swing high of $0.0154 resistance.
Concerning the EMA’s, the VET coin price is trading above the crucial EMA’s of 20, 50, 100, and 200, indicating a bullish trend alignment. The 20 EMA is providing strong dynamic support to this coin.
The RSI (BULLISH) current value is 67, indicating a bullish sentiment within the VET coin.
The VET Coin Trying To Sustain Above The $0.154 Mark
In the 4-hour time frame chart, the VET coin price has already provided a candle closing above the $0.153 mak. The coin price is currently retracing back to this broken level to obtain proper support from it. However, the technical chart also displays some higher price rejection in these candles, suggesting the supply pressure in this region.
The MACD indicator shows both the MACD signal lines moving above the neutral zone (0.00), indicating the bullish momentum in the VET coin.
Conclusion: From the technical perspective, the overall trend of the VET coin is bullish, and as mentioned above, the chart indicates even more potential for this coin when the price is trying to breach the previous swing high of $1.54. However, the crypto traders should be patient till the price doesn’t provide proper sustainability above this level.
Support: $0.154
Resistance: $0.164