VeChain Price Prediction: VET prepares for next phase of rally?

• 1 VeChain value is up by 21.80% connected nan monthly ground and forming bullish reversal pattern
• 2 VET value sustained supra nan 200 time EMA and besides prepares for nan aureate EMA crossover
• 3 VET method indicators are mild bearish but nan value action is favoring successful nan guidance of bulls

VeChain (VET) coin prices are trading pinch mild bearish cues and bears are trying to propulsion nan prices down beneath nan important EMAs but nan value action is bullish and buyers are expecting nan value to clasp nan support levels. Currently, VET/USDT is trading astatine $0.02802 pinch an intraday nonaccomplishment of 0.74% and nan 24-hour measurement to marketplace headdress ratio astatine 0.0309

Are VET prices undervalued ?

VET/USDT regular floor plan by Tradingview

VeChain (VET) crypto value is connected nan slow and dependable emergence and heading upward by forming a bullish continuation shape which shows that nan assurance of nan buyers is returning backmost and investors are expecting outperformance successful nan coming months.

In nan mid of January, VeChain prices took U- move from nan 52 week debased and managed to push nan value supra nan 50 time EMA which has created a affirmative dream for nan bullish traders and turned nan short word inclination successful nan guidance of bulls. Later, prices proceed to emergence upward pinch a debased momentum and win to break retired of nan 200 time EMA indicates that nan prices are successful nan first shape of rally and if wide marketplace sentiment remains affirmative past we mightiness expect VET prices to participate successful nan adjacent bull run. However, nan prices are adjacent to nan proviso area astatine $0.03398 which will beryllium going to enactment arsenic an contiguous hurdle for nan bulls followed by adjacent hurdle will beryllium astatine $0.03911 level

On nan different hand, If wide marketplace sentiment turned negative, past VET prices mightiness besides look rejection shape nan proviso area and bears mightiness effort to resistance nan prices beneath nan important EMA to show its power but arsenic per nan method analysis, $0.01964 and $0.02212 will enactment arsenic a beardown request area and nan probability of bouncing backmost from nan support zones remains successful nan favour of bulls. Meanwhile, The method indicators for illustration MACD had generated antagonistic crossover but nan curve is sloping sideways indicating prices are apt to consolidate for immoderate much clip whereas nan RSI astatine 56 denotes nan adjacent level of tug of warfare betwixt buyers and sellers.

Summary

VeChain (VET) crypto value is successful nan betterment mode and managed to climb supra some nan EMAs shows that nan positional inclination is successful nan bulls grip and immoderate short word correction will person precocious probability of bouncing backmost from nan support zones mentioned below.

Technical levels

Resistance levels : $0.03398 and $0.03911

Support levels : $0.02210 and $0.01964

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.