VeChain is a blockchain-based supply-chain platform. It has two native tokens, the prime one being VET. Interestingly, VET has been continuing its stellar upward movement for the past month. The value of this blockchain is derived from the activities of its members finding solutions to real-life economic problems. Past Performance On March 15, 2021, VET started trading at $0.066. As of March 21, 2021, the closing price of VET was $0.094. Thus, in the past week, the VET price has surged by approximately 42%. In the last 24 hours, VET has traded between $0.088-$0.098. https://ift.tt/3vQI5QD Day-Ahead and Tomorrow Currently, VET is trading at $0.098. The price has increased from the opening price of $0.094. Thus, the market looks bullish. The A/D indicator is upward sloping. Thus, whale accumulations are higher than whale distributions. High buying activity will exert upward pressure on the price. Thus, we can expect the price to rise further. The MACD and signal lines are positive. Thus, the overall market momentum is positive. Moreover, a bullish crossover by the MACD line over the signal line implies a further price rise. The RSI indicator is at 65%. It faced a bullish swing rejection at 58%. Moreover, half an hour back, the RSI had touched the 70% mark. Thus, buying pressures are very high. Hence, the price uptrend is strong and the price will increase further. VET Price Analysis Currently, the price is above the first Fibonacci pivot resistance level of $0.097. If the bulls remain strong, by day close, we can expect the VET price to break out of the subsequent resistance levels of $0.099 and $0.103, respectively. Look for a direction in a 4-hour window. The price has tested and broken out of the 23.6% FIB retracement level of $0.096. It is now poised to break out of the 24-hour high price of $0.098. Thus, the bullish trend is very strong and likely to continue tomorrow as well.
The post VET to Breakout of the Levels of $0.099 and $0.103 – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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