VET price has picked up nicely within the last 24 hours to register impressive price gains based on the recent Vechain Price Analysis. The price increase is supported by the technical price analysis conducted as the trading price is expected to continue upward based on the new chart reading explained below.
The VET price has gained momentum since yesterday as it began to post significant price increases. The current price of VET is up by +5.33% within the past 24 hours as its trend line continues to show a strong bullish momentum on the 1-hour chart.
Although the overall market is still red, the last 24 hour has seen several crypto tokens turn green, including the VET/USD pair. Dominant crypto coins such as Bitcoin and Ethereum have all registered price increases of +3.01% and +9.73%, respectively.
VeChain price movement in the last 24 hours: VeChain rises to $0.025, setting a bullish trend.
Within the past 24 hours, the price of VET has registered an overall price increase of +5.33%. The 24-hour high is $0.2538, while the 24-hour low is $0.0238. With a total trading volume of 330,131,593.30 VET tokens worth $65,389,344.31.
VET/USD 4-hour chart: VET ready to rally?
The VET/USD 4-hour chart represented below is quite straightforward. The simple trend analysis using the Double Exponential Moving Average, or the DEMA (Double EMA), is currently below the trading price.
Given that the current price is in an upward trend, the Double EMA confirms the uptrend and ascertains that the VET/USD pair is about to rally even higher. The four-hour chat below also indicates the 50 and 200 Moving Averages. On much shorter timeframes, like the 15m chart, the 50 MA has already crossed above the 200 MA, which indicates a strong bullish momentum building up.
VeChain Price Analysis: Conclusion
The VeChain platform has risen within the last 24 hours following the week’s slow start. The trend lines have begun to shape up, establishing a stronger bullish trend based on our technical analysis.
Source: https://www.cryptopolitan.com/vechain-price-analysis-vet-rises-to-0-025/