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VeChain Price Analysis: VET/USD breaks above the triangle formation

  • VET/USD bulls retained control of the market for the second straight day.
  • The MACD shows decreasing bearish market momentum.
VeChain Price Analysis: VET/USD breaks above the triangle formation
Rajarshi MitraRajarshi MitraIndependent Analyst

VET/USD daily chart

VET/USD daily chart

VET/USD bulls retained control of the market for the second straight day as the price rose from $0.017 to $0.0.0179. In the process, the price has risen above the triangle formation. The MACD shows decreasing bearish market momentum, while the RSI is trending around 61.53, next to the overbought zone. 

VET/USD has healthy support at $0.0164, $0.017 and $0.0172 (SMA 20). On the upside, there are two strong resistance levels at $0.019 and $0.0197.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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