• VeChain price is testing the lower range at $0.170, anticipating a bounce to $0.251.
  • A supply zone that extends from $0.190 to $0.198 could deter this upswing.
  • Therefore, a decisive close above this area will confirm a 25% ascent.

VeChain price is range-bound, eyeing a quick upswing but could face hindrance near the immediate resistance area.

VeChain price at crossroads

VeChain price found support at $0.170 before creating a local top around $0.251 on April 17. Although VET has deviated a few ticks away from these swing points, it has respected the boundaries.

Like many altcoins, VET has also created a range where it moves sideways, showing no directional bias. Such clockwork-like movement can be attributed to the Bitcoin price crashes witnessed over the last two weeks.

After sliding nearly 36% from the local top and bouncing twice from the lower trend line, VeChain price eyes a reversal to $0.251. While this 26% ride to the upside seems possible, a supply zone that extends from $0.190 to $0.198 might deter the bulls from advancing.

However, a decisive close above $0.198 might propel VeChain price to $0.251, with a pitstop around the 50% Fibonacci retracement level at $0.211.

VET/USDT 4-hour chart

VET/USDT 4-hour chart

If the bulls fail to breach the said area of interest, a retracement to $0.170 seems likely. However, a 4-hour candlestick close below $0.162 will signal invalidation of the bullish thesis.

In such a scenario, investors can expect VeChain price to slide 11% to $0.143.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Four reasons why XRP price will crash to $0.65

XRP price set up a swing high on August 15 and breached this local top to create a new one on September 6. However, the second attempt failed as the market experienced massive selling pressure the next day. Now, Ripple is continuing to head lower with no signs of recovery. 

More Ripple news

AVAX to overtake Solana as analysts expect Avalanche to surge to $100

Total value locked has increased nearly ten times since the announcement of the $180 million incentives program Avalanche Rush. The layer-one blockchain ecosystem has technical upgrades lined up over the next few weeks. 

More Solana News

SafeMoon price puts 32% crash on radar as bulls prepare for damage control

SafeMoon price has slid below a crucial support level that could indicate that a steep decline is on the horizon. SAFEMOON could be heading for a 32% drop as the buyers continue to retreat, leaving the altcoin to slide lower.

More SafeMoon News

Cardano introduces Layer-2 solution Hydra, as ADA price looks to rally 25%

Cardano price is grappling with a crucial support floor on the daily time frame as the big crypto experienced a minor crash. Investors can expect ADA to slice through this barrier before restarting its uptrend.

More Cardano News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast