VeChain (VET) Fluctuates around $0.0560 – Price Analysis

  • VeChain price analysis reveals bullishness today.
  • VET’s massive resistance sits at $0.0878.
  • VeChain trades at $0.0554.

VeChain price outlook shows the alternative coin followed a massive upside trend within the past 24 hours. The price maintained a positive stance, recording significant surges, nearing the value zone at $0.0560. The crypto surged 0.84% today, with its trading volume hovering at $173,354,385.

VET/USD 4hr Analysis – Recent Developments

VeChain price shows market volatility increasing. That means the asset’s price becomes more prone to volatile change towards either extreme. Support and resistance bands seem to drift from each other, showing surging volatility. The Bollinger band’s top limit sits at $0.0555, serving as VET’s massive resistance. Meanwhile, Bollinger’s lower limit represents the alt’s dependable support at $0.0509.

VET/USD price appears to cross above the MA curve, highlighting a bullish move. Moreover, the price path maintains an upside outlook, heading towards resistances. Lastly, the token might crack the resistance, attracting intense volatility, translating to lucrative opportunities for VET Bears.

The Relative Strength Index with a 57 reading represents stable crypto. The score stays within the upper neutral territory. Moreover, the RSI seems to maintain an upside approach, reflecting buying activity dominance and increasing crypto value. However, the climbing RSI score might mean risks if not managed in time as the token might suffer inflation.

VeChain 1-day Analysis – Market Expands

VeChain price reveals market volatility maintains an upside movement. That means the token’s price fluctuations will follow the volatility direction. High probability translates to more possibilities of VET price fluctuating to either extreme. Bollinger’s top limit represents VET’s crucial resistance at $0.0878. On the other side, the band’s lower border serves as the alt’s reliable support at $0.0417.

VET price looks to cross over the MA curve, suggesting a bullish outlook. Moreover, the price keeps an upside path, meaning the bullish momentum can remain long-term. Furthermore, the price gains strength while moving towards a steady area for anchorage.

The RSI score is 33, highlighting undervalued scenarios. Nevertheless, buying activity surpasses selling, causing the Relative Strength Index score to rise.

Final Thought

VeChain price outlook shows the token’s bullish strength with high potential for increased bullish action. The alt hit $0.054 on 30 January and seems to head towards $0.0560. For now, VET’s price stands at $0.0554. Bulls appear to regain market control, and the asset targets stability levels again.