Vechain Technical Analysis: VET/USD hits a new all-time high at $0.0217
- VET/USD is seeing unprecedented gains for the past week, up 144%.
- VeChain has hit a new all-time high and it looks unstoppable now.
VeChain has been outperforming Bitcoin and others throughout the majority of June. After a breakout on July 1 followed by a lot of continuation on July 3, VET/USD was close to the $0.01 high established on June 11. Most investors were expecting a pullback, however, VET had a massive 22% breakout towards $0.013 on July 4 and it’s now trading at $0.019, only four days later.
VET/USD daily chart
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Not much can be said about Vechain’s daily chart as it is extremely bullish and ignoring many overextended indicators like the RSI. At this point is unclear when VeChain will see a significant pullback because of the FOMO generated with the last few moves. The increase in trading volume is also quite apparent.
VET/USD 4-hour chart
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VeChain is currently under some consolidation, however, any level above $0.0135 should be considered a higher low and a continuation of the 4-hour uptrend.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
