- The 20-day EMA offers strong support to the VET price
- The VET/BTC pair is trading at 0.000002694 BTC with a gain of 6.64%
- The 24-hour volume for the VET coin is $1.4 Billion, indicating a 94.5% growth.
As mentioned in my previous article on VET, the coin chart offered an excellent long opportunity for its traders when the price breached the last swing high of $0.154 and later rallied to the $0.187 level. The coin price is currently testing this resistance level to see if it holds sufficient selling pressure or not.
Regarding the EMA’s, the VET coin price is trading significantly above the crucial EMA’s of 20, 50, 100, and 200, indicating a bullish trend alignment. In addition, the 20 EMA is providing strong dynamic support to this coin.
The Relative Strength Index (BULLISH) current value is 74, indicating a bullish sentiment within the VET coin. However, it also states the coin is quite near its overbought zone.
The VET Coin Chart In The 4hr Time Frame
The VET coin shows a stable rally in its technical chart, with no sign of an intense selling at this point. However, the coin price is currently standing at the doorstep of a significant resistance level. Thus, the crypto can expect a minor retracement in a coin before the price continues to rally forward.
Concerning the traditional pivot levels, the nearest resistance for the VET coin price is $0.186, followed by $0.2. And on the flip side, the support levels are located at $0.17, followed by $0.15.
Conclusion: From a technical perspective, the overall trend of the VET coin is strongly bullish and indicates a steady rally that can serve the long traders of the crypto market. However, as mentioned, the coin is currently present at a resistance level, and the VET should, for this level’s breakout, a minor pullback to grab entry opportunity in this coin.
Support: $0.17
Resistance: $0.186