Vechain Price Analysis: VET/USD suffers massive fluctuations at $0.0789

TL;DR Breakdown

• Vechain price analysis is bullish today.
• The strongest resistance present at is $0.0900
• The current price of Vechain is $0.0790

The Vechain price analysis shows that the price of VET/USD has suffered massive fluctuations over the past few days. The price had exceeded the $0.0800 mark after reaching $0.0803 on January 15, 2022, followed by the cryptocurrency falling to $0.0782 on the same day. Finally, the price stabilized for a while, regained some of its lost value today on January 16, 2022, and reached $0.0789, which is the current price of Vechain.

VET/USD 4-hour price analysis: Recent developments

The Vechain price analysis has revealed market volatility following a declining movement which means the cryptocurrency’s price is becoming less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be closing the gap between them, indicating decreasing volatility and entering a squeeze. The upper limit of the Bollinger’s band is present at $0.0809, which acts as the most vigorous resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0766, representing the most substantial 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 moving upwards, indicating that it will soon meet the resistance. If the price can break the resistance, Vechain will reach new higher highs. As the volatility decreases, the bulls gain a strong chance of gripping tighter and engulfing the market altogether.

The Vechain price analysis reveals that the Relative Strength Index (RSI) is 52, which puts the cryptocurrency on neither extreme; the value falls in the upper neutral zone. The bears currently dominate the market. The RSI appears to be following an upwards approach that reflects the value of the cryptocurrency slowly escalating its value. The RSI score increases because the buying activity heavily outweighs the selling activity. A reverse trend is most probable.

Vechain Price Analysis for 1-day: Market enters a squeeze

The Vechain price analysis shows market volatility following a slightly decreasing trend. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction the volatility does; less volatility means less vulnerability to change. The upper limit of the Bollinger’s band exists at $0.0900, which acts as the most robust resistance for VET. The lower limit of the Bollinger’s band is available at $0.0727, representing the most vital support for VET.

The support and resistance bands appear to be near each other, indicating a tight market, which signifies a squeeze. The market seems to be getting tighter, even after entering the squeeze.

The VET/USD price appears to be crossing over the Moving Average curve, indicating a bullish trend. Furthermore, we can observe the price path following a linear movement, maintaining the bullish trend.

The Vechain price analysis reveals that the Relative Strength Index (RSI) is 43, which means that the cryptocurrency shows no signs of being undervalued. Vechain fall in the lower neutral zone. The RSI appears to be following a linear movement that reflects an inclining market trend and movement towards stability. The buying activity equalling the selling activity causes an increment in the RSI score.

Vechain Price Analysis Conclusion

The Vechain price analysis concludes that the cryptocurrency shows bullish momentum with massive room for further bullish activity. The price reached $0.0803 on January 15, 2022; however, the price has been struggling even for the $0.0800 mark now. The price has been fluctuating. The current price of Vechain is $0.0789. The analysis has shown us that Vechain will soon fully enter the bullish zone, and the price will rise. Now is an excellent time to buy.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.