Thursday, October 28, 2021
Home Crypto News Analysis Vechain Price Analysis: VET Is Looking For 25% Upswing

Vechain Price Analysis: VET Is Looking For 25% Upswing

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Vechain price is doing good as bulls are looking for an uptrend. A further increase in VET buying can take Vechain to $0.10 resistance level, which is a 25% price increase. The MRI indicator show that VET might visit below support of $0.070 before making a consistent uptrend.

Read: Sunny LU VeChain CEO: What VeChain Is Offering To Different Level Of “Developers”

Vechain price is consolidating at the range of $0.06 to $0.08. This price action suggest that there are strong chances that VET price can move forward to touch $0.10 resistance.

Read: For the First Time Ethereum Crossed Bitcoin in Address Activity

vet price analysis 29-6-21

On the other hand, The Momentum Reversal Indicator (MRI) is pointing a sell signal in the form of a red ‘one’ candlestick on the 4-hour chart, which predicts a one-to-four candlestick correction. So traders and holders might expect VET price to visit lows of $0.070 again. The price may fall below $0.070 to collect liquidity, If such development is followed by a quick bounce than it is bullish sign.

Read: Suzhou City Launched “Changan Code” Based On Vechain Toolchain Covering More Than 300,000 Local Residents


On the upside VET will face medium resistance at $0.090 and strong resistant at $0.10.

Read: How Vechain Blockchain Can Be Useful In Dairy Products Market

On the bearish side if support of $0.07 is broken, VET might see a 11% downfall going to $0.059.

At the time of writing overall crypto market is doing good, with ETH trading above $2000 and BTC above $35000. Under such favorable condition there are high chances that VET price will continue it upward momentum till $0.10.

At $0.10, VET bulls should stand up and come in with force to break $0.10, which will prove as a strong resistance.

Read: A Comprehensive Long List Of Vechain Food Safety Use Cases

Resistance: $0.09-0.10

Support: $0.06-0.07

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Albert Brown
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.


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