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Home Crypto News Analysis Vechain Price Prediction: Vechain Awaits Golden Cross For 58% Upswing

Vechain Price Prediction: Vechain Awaits Golden Cross For 58% Upswing

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VeChain six hours price chart shows that the Golden Cross is quickly approaching, which suggests higher prices.

Read: Vechain And Shopping.Io Became Partners To Enable Vechain Holders To Shop On Amazon, Ebay, Walmart And Etsy Using VET Token


VeChain rebounded from the 50-week SMA. It posted a 15.22% increase last week and ended July with a slight decline of -1.65%.

VeChain price has increased 45.88% since July 21. This brings the cryptocurrency closer to the resistance of $0.099, where 200-day SMA is waiting to act as resistance $ 0.097.

vet anlysis two 8-4-21

VET is expected to make a sharp turn in the next few days. The upside move will attempt to overcome the 200-day SMA. If VET can break 200 SMA moving average resistance It will then test the 38.2% Fibonacci level at $ 0.133. This is a 58% increase. Due to price congestion in May and June, the 38.2% Fibonacci level will likely act as a strong resistance.

Read: Why So Many Multi Billion Dollar Business Chose VeChain To Build Their Blockchain Solutions?

FTX US

The bullish Golden Cross:

The bullish Golden Cross displayed on the six-hour VeChain chart, will occur When the 50 six-hour SMA crosses over the 200 six-hour SMA. The November 2020 Golden Cross was the last on the six-hour chart, which resulted in a significant advance that made April’s high.

On the other side if resistance gains strength, and bears takes control, The downside is only protected by the 50-day SMA present at $ 0.08.

Read: Vechain CEO, Sunny Lu Interview By Fenbushi Capital

If the important moving average support brakes, This next major support levels are at $0.073. A more deeper correction could lead Vechain price to $0.059.




Michaël van de Poppe Vechain Analysis:

Michaël van de Poppe, The well-know trader, and technical analysis expert from Amsterdam Stock Exchange, gave his Vechain analysis.

He said on Twitter:

“VeChain is following the path.

For VET/BTC pair, Preferred scenario as 270 sats is critical resistance.

If another test of support around 210 sats holds, i am expecting bullish tests.

However loosing 210, i am looking at 100 and 155 sats.”

 

van de pop vet analysis 4-8-21

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Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

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