VeChain breaks 2-year long resistance just at the onset of the ongoing month at a high of $0.023 price area with a constant gain in momentum after the massive sell-off in March. It was just in the third month of the ongoing year when VET token tested supports as low as $0.00135 against the US Dollar, however, notably strengthened by over 1600% in nearly five months.
VeChain, in this regard, has got major impetus in the previous month during the community is known alt season. Just when the major cryptos of the altcoin market were seen spurring and Bitcoin was consolidation below $9.5k, VET crossed the major resistance at $0.010 and is now one of the top 25 cryptos of the market and also one of the most talked-about altcoins.
VeChain Price Analysis
VeChain, after having traded laterally below $0.0100 to a major extent in the bygone year, has now strengthened after two years of setback. VET/USD experienced a steep growth just at the onset of the previous month, and with a bullish candlewick, it crossed above $0.0200. However, with intraday pullbacks and corrections, VeChain is now trading below $0.0200 at $0.0189 against the greenback yet maintains its call above the major support level $0.0100.
Taking a view of the YTD movement of the VET coin, we see that it gained notable momentum in June 2020 after a flat half-yearly movement on the above 24-hour chart. Now, it has been over the past two months that the coin has been a gainer above $0.010 and $0.020 price area. VeChain is retaining support from MA50 & MA200 at $0.0179 & $0.00860.
However, the other two technicals appear drawing a bearish divergence, and the signal line is crossing above the MACD line due to intraday pullback below $0.020. The RSI is holding no extremities due to no steep traction and is lying at 57.64. To get more details about VeChain prediction, just go and check out our cryptocurrency news page.