VeChain is showing signs that it may be a viable alternative to blockchain technology. imminent major move As price consolidation tightens. Trading is geared towards a breakdown or breakout, as key levels of support and resistance are being tested. VET’s future direction can be determined by looking at the charts for 4-hours, 1 hour, and 15 minutes.
The 4-Hour Chart
VET’s price has moved between $0.024(support) and $0.026(resistance), creating a small trading range. Bulls attempted to push beyond $0.026, but selling pressure kept price movement contained. If VET breaks above this resistance, This could lead to a rally towards $0.0285. If $0.024 does not hold up, it is possible that the price will fall to $0.022. RSI has a neutral reading, indicating market indecision.
One-Hour Chart Trend Analysis
VET shows mixed signals on the 1 hour time frame. MACD appears to be nearing a potential crossover bullish, indicating a move upwards. A breakout needs to be confirmed, but the low volume is a sign that it’s not yet there. VET’s price could rise above $0.026, however, a second rejection would send the coin back to $0.024.
Chart 15-Minute Short-Term Motion
VET is bouncing around $0.0238, before it tries to make a comeback. Bollinger bands indicate that volatility is about to increase. Breakouts above $0.026 can trigger an upward trend, but failure to maintain support may invite further selling pressure.
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The Key Prices to Pay Attention
- Resistance: $0.026, then $0.0285
- Support: $0.024, then $0.022
VET’s Next Move – What to Expect
A confirmed breakout above $0.026 could drive bullish momentumWhile a fall below $0.024 can increase selling pressure. For confirmation, traders should closely monitor the volume.
Disclaimer: The content of this article is intended to provide information and not financial advice. These views may be the author’s own personal opinion and are not representative of. Before making investment decisions, readers are encouraged to conduct thorough research. The reader takes any action at his or her own risk. It is not liable for any losses.
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Source: timestabloid.com
