- Vechain token trying to rebounds after taking support of 100 and 200-DMA lines and falls below its short-term moving average of 20 and 50-Day moving average.
- The coin looks bearish; if it falls below the critical levels of 100 and 200-DMA lines, we can witness more profit-taking.
- The pair or VET/BTC is trading at 0.000002275 BTC with minor gains of +1.39%, while ETH/BTC is CMP at 0.00003113 ETH, trading almost flat up by -0.42%
Vechain token over the monthly chart now reaches near the critical levels and can also be considered a make or break zone. After witnessing a selloff, the coin can recover gradually from the lower classes or near 100 and 200-DMA lines. While on the higher side, 20 and 50-DMA are acting as struggling levels for VET. Since the closing above 20 and 50-DMA will give bulls confidence, we can see positive price action in upcoming weeks.
Support on the lower side is at $0.1185 and $0.1020; likewise, resistance levels on the higher side will be $0.1240 and $0.1572.
Vechain token at the weekly chart is trading sideways, after a sharp decline from the lower levels
Vechain token over the weekly chart is trading sideways, after a sharp decline from the lower levels. At the same time, the coin is trading near the lower levels after a sharp correction from the higher levels. Likewise, volume is another primary concern, and it drops below the average line. Presently, VET trades at $0.1308 with an intraday gain of +3.94%, while volume witnessed an intraday jump of +5.85%, standing at $559,053,261. We can expect a substantial upsurge in the upcoming trading session from $0.1500 to $0.1720.
Relative Strength Index (NEUTRAL): Vechain token RSI is trading flat and trying to rebound after testing the oversold zone. While the slight buying interest is observed from the lower levels and RSI is CMP at 40.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a sideways trend on the daily chart. The seller’s line (red) and the buyer’s signal line (green) overlap with no sign of clear momentum.
Support levels: $0.1185 and $0.1020
Resistance levels: $0.1240 and $0.1572.