Vechain price analysis shows that digital currency is currently in a bullish trend. The VET prices are facing resistance at $0.02479 and support at $0.02349. VET/USD prices have increased by 0.14 percent in the last 24 hours as it is currently trading at $0.02475. The market capitalization is at $1.77 billion and the 24-hour trading volume is $69 million.
Vechain price analysis 24 hours price chart: Bulls continue pushing VET prices higher
Vechain price analysis for the last 24 hours shows that the VET prices have been on a steady uptrend. The digital currency hit a high of $0.02479 and a low of $0.02349.The buyer’s momentum is currently pushing the prices higher as they aim at breaking the resistance level at $0.02479.
The moving averages are also giving a positive picture as the 50-day SMA is above the 200-day SMA. This indicates that the path of least resistance is to the upside. The RSI indicator has moved up to 56.23, which is a good sign as it indicates that the bullish may continue in the near term. The MACD indicator is also in the positive territory, indicating that the bulls have the upper hand.
VET/USD 4-hour price chart: Recent updates
Vechain price analysis on a 4-hour price chart shows that prices have been escalating since the beginning of today’s trading session. Bulls will contiune to push prices higher as they aim at the resistance level at $0.02479. On the downside, the support levels are at $0.02349. A break below the latter support level could see prices retrace to $0.02288.
The price had been moving upwards quite consistently as the Moving averages were indicating. The 50-day SMA is at $0.02362 and the 200-day SMA is at $0.02182, giving a positive picture in terms of the trend. The RSI indicator was also quite strong as it stood at 64.67, which indicated that there was scope for more upside in prices.
Vechain price analysis conclusion
Vechain price analysis shows that the digital currency is in a bullish trend as the bulls push prices higher. The bullish momentum has been intensifying over the last few hours and so the circumstances have turned favorable for the buyers. The digital asset looks set to continue its run higher as the technical indicators on the 4-hour and 1-day timeframe show that the market is still in bullish territory.
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Source: https://www.cryptopolitan.com/vechain-price-analysis-2022-08-29/