|

VeChain Technical Analysis: VET/USD bulls try to negate Thursday’s losses

  • VET/USD is consolidating in a flag formation, preparing itself for a breakout.
  • The RSI shows that the asset is overpriced and will face another bearish correction soon.

VET/USD daily chart

VET/USD daily chart

VET/USD bulls are in full control of the market. The price has gone up from $0.01799 to $0.01884  this Friday. The bulls managed to negate Thursday’s losses, wherein it dropped from $0.01894 to $0.01799. The price is consolidating in a flag formation, preparing itself for a breakout.

The MACD shows decreasing bullish momentum, as the MACD line looks to cross over the signal line. The RSI is trending along the edge of the overbought zone, indicating that it’s presently overpriced. As such, the price may face another bearish correction soon.

Support and Resistance

VET/USD has one strong resistance level at $0.01984. On the downside, healthy support levels exist at $0.01842 and $0.0176.

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.

More from Rajarshi Mitra
Share:

Editor's Picks

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.

Crypto Today: Bitcoin, Ethereum, XRP rebound as risk appetite improves

Bitcoin rises marginally, nearing the immediate resistance of $68,000 at the time of writing on Friday. Major altcoins, including Ethereum and Ripple, hold key support levels as bulls aim to maintain marginal intraday gains.

Bitcoin Weekly Forecast: No recovery in sight 

Bitcoin price continues to trade sideways between $65,729 and $71,746, extending its consolidation since February 7. US-spot ETFs record an outflow of $403.90 million through Thursday, pointing to the fifth consecutive week of withdrawals.

Pi Network Price Forecast: PI recovery stalls amid profit-taking

Pi Network tests 50-day EMA support on Friday, after a 5% decline the previous day. PiScan data shows large deposits on CEXs totaling over 4 million PI tokens in the last 24 hours, reflecting an exodus of investors taking profits.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.