The VET/USD chart indicates a strong uptrend as the coins show a steady rally of higher highs and higher lows. The coin price recently gave a breakout from the $0.155 resistance, which initiates a significant up momentum in this coin.
Key technical points:
Source- VET/USD chart by Tradingview
Since the blood bath of the crypto market in May month, the VET coin price has never been seen above the $0.155 mark. The coin tried a few attempts to breach this overhead resistance, but they were a major fail that pushed the coin back to the lower levels.
However, on November 5th, the coin price finally managed to break out from this resistance, with sufficient support from the volume activity, providing the crypto trader an excellent opportunity to go long.
The daily chart’s crucial EMAs(20, 50, 100, and 200) suggest a bullish trend in this coin. In addition, the 20 EMA line provides strong dynamic support to the coin price.
The Relative Strength Index(63) indicates a bullish sentiment regarding this coin. However, the RSI line is struggling to keep up with the bullish price action, suggesting some weakness among market buyers.
VET/USD Chart In The 4-hour Time Frame
Source- VET/USD chart by Tradingview
The VET coin showed a remarkable rally in this lower time frame chart. Furthermore, the coin is still trying to sustain above the $0.155 mark, and with the losing momentum in RSI, the task becomes slightly difficult.
However, If the price obtains sufficient support from this level, the coin price would have a strong stepping stone to initiate a significant up movement. The current price of this coin is $0.166, with an intraday gain of 3.1%.
.
Cyber Hornet has filed with the U.S. Securities and Exchange Commission (SEC) to launch a…
Tether Holdings is preparing for one of its biggest funding rounds, with two global investors…
Kraken raised $500 million, increasing its valuation to $15 billion, setting the stage for a…
Crypto exchange Bybit has announced its listing of Ripple's RLUSD amid the stablecoin's growing adoption.…
The world's largest interbank messaging network SWIFT has selected Ethereum layer 2 platform Linea to…
The August U.S. PCE inflation data has dropped in line with expectations, although it suggests…