VeChain price analysis: VET struggles for $0.0550

TL;DR Breakdown

• VeChain price analysis is bullish today.
• The strongest resistance is present at $0.0885.
• Trading price of VeChain is $0.0545.

The VeChain price analysis shows that the price of VET/USD has followed a strong upwards trend in the last 24 hours. The price has shifted to a positive movement, increasing significantly, just barely shying away from the $0.0550 mark. On January 29, 2022, the cost of VET is up 3.75% in the last 24 hours, with a trading volume of $206,868,154.

VET/USD 4-hour price analysis: Latest developments

The VeChain price analysis has revealed market volatility following a decreasing movement, closing the market, which means the cryptocurrency’s price has become significantly less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be moving towards each other, indicating decreasing volatility. The upper limit of the Bollinger’s band is present at $0.0564, which acts as a strong resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0505, representing the strongest support for VET.

The VET/USD price appears to be crossing over the Moving Average curve, signifying a bullish trend. Furthermore, the price path seems to be following an upwards direction towards the resistance. Finally, the price might break the resistance, giving way to intense volatility and opportunity to the bears. However, as the volatility increases, the current state of the volatility is on the down-low, which the bulls will undoubtedly use to their advantage.

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 54, representing a stable cryptocurrency; the value is present in the upper neutral region. Furthermore, the RSI appears to be following an upwards approach that reflects the value of the cryptocurrency increasing and the dominance of buying activity.

VeChain price analysis for 1-day: VET cheers the bulls

The VeChain price analysis shows market volatility following an increasing direction. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction as volatility; more volatility means more probability of the price shifting to either extreme. The upper limit of the Bollinger’s band exists at $0.0885, which acts as the strongest resistance for VET. On the other hand, the lower limit of the Bollinger’s band is available at $0.0427, representing the strongest support for VET.

The VET/USD price seems to be crossing over the Moving Average curve, indicating a bullish trend. Furthermore, we can observe the price path following an upwards movement which may indicate bullish momentum at last. Moreover, the price is gaining momentum and moving towards a stable position to anchor itself.

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 30, which means that the cryptocurrency shows severe signs of being undervalued. VeChain falls in the undervalued region. The RSI follows a slight upwards movement that reflects a slowly increasing market. The buying activity is starting to exceed the selling activity causing the RSI score to increase.

Vechain Price Analysis Conclusion

The VeChain price analysis concludes that the cryptocurrency shows bullish momentum with massive room for further bullish activity. The price has reached $0.0545 on January 29, 2022, and is currently moving towards the $0.0550 mark. The current price of VeChain is $0.0545. It seems the bulls have gained control of the market and are on their way to making VeChain stable again.

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