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VeChain Price Analysis: VET/USD strings together five straight bullish days, aims for $0.02-level

  • VET/USD rose by 18.75% over the last five days.
  • RSI is trending horizontally around 66.67, next to the overbought zone.
VeChain Price Analysis: VET/USD strings together five straight bullish days, aims for $0.02-level
Rajarshi MitraRajarshi MitraIndependent Analyst

VET/USD daily chart

VET/USD daily chart

VET/USD is in the process of stringing together five straight bullish days, wherein it went up from $0.016 to $0.0198. In the process, the price has gone up by 18.75%. The buyers will want to target the $0.02 price level next as VET/USD keeps trending in an upwards channel formation.

The MACD shows increasing bullish market momentum. The Relative Strength Index (RSI) is currently trending horizontally around 66.67, showing that there is more growth potential for VET/USD before it gets overpriced and attracts bearish correction. As per the price chart, healthy support levels lie at $0.0187, $0.0175 (SMA 20), $0.0172. 
 

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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