- The price has heightened to $0.171.
- VeChain price analysis confirms bullish trend.
- Cryptocurrency is supported at $0.120.
The latest VeChain price analysis shows a bullish price movement today. The green candlesticks are seen ruling the price charts for the past few weeks, with unavoidable bearish interruptions. The price is very close to the resistance present at $0.182, and it is expected that it may surpass it in the upcoming weeks. The price has reached its former height, i.e., $0.171, once again because of the uptrend.
VET/USD 1-day price chart: Price drives past $0.17 as bulls find way to recovery
The one-day VeChain price analysis shows signs of an uptrend, as the price has followed an upward movement today. The bulls are taking action once again to regain their leading position on the price charts. Their efforts have been successful so far, as the price increased to the $0.171 level during the last 24-hours. The price is now standing higher than its moving average (MA) value, i.e., $0.165.
The increase in volatility suggests that the approaching days might not bring favorable news. The upper and lower Bollinger Bands Indicator’s values have also changed, and now the upper Bollinger band value is $0.182, whereas the lower Bollinger band value is $0.120. The Relative Strength Index (RSI) score is now 64.65 because of the bullish trend.
VeChain price analysis: Reversal in trends expected as price takes downturn at $0.17
The four hours VeChain price analysis dictates an unexpected drop in price in the last few hours. The price has dropped amidst a bullish swing, which was not anticipated earlier by the market analysts. The VET/USD value has moved down to $0.171 as a result of the bearish comeback. The price is still above the moving average value, $0.164, and the Bollinger Bands Average value, i.e., $0.161.
A crossover between SMA 20 and SMA 50 was observed earlier, but the price is backtracking again. The volatility is increasing, and the upper Bollinger band is now touching the $0.171 mark while the lower Bollinger band is at $0.151. The RSI score is relatively high, i.e., 61.05, as the bulls were leading earlier.
The last few months proved quite profitable for the overall value of cryptocurrency, as is being predicted by the technical indicators chart. There is a strong bullish signal for the day, as 16 indicators are on the buying side, ten hands are on the neutral, and zero indicators are on the selling side.
The Moving Averages Indicator is giving out a good signal for the buyers as well. There is a bullish hint with 14 indicators standing on the buying place, one neutral position, and zero indicators on the selling place. The Oscillators are confirming an increasing trend as well. There are nine indicators on the neutral side, two on the buying side, and zero on the selling side.
VeChain price analysis conclusion
An increasing trend is observed today for VET/USD, as green candlesticks dominate the price chart. The price has climbed up to $0.171 in the last 24-hours, and further improvement might be on its way. The hourly prediction is not satisfying, as a sudden drop accompanied the price curve but as we know corrections are a necessary part of the market. Nonetheless, today is going positive for the buyers, as a sufficient increase in price is observed.
Crypto Analyst Michaël van de Poppe Details Path Ahead for Polygon, Harmony and VeChain
Cryptocurrency analyst and trader Michaël van de Poppe is looking at three altcoins and outlining the path forward after the recent market correction.
Starting with Polygon (MATIC), Van de Poppe tells his 150,000 YouTube subscribers that the Ethereum (ETH) scaling solution could potentially hit a new high of $2.70.
“…Overall we are making higher lows. So we are building up the pressure and we are building up towards a new breakout above this all-time high [$2.62].
Right now we are getting into the last resistance point through which if there is an area that you want to look at for potential entries, you’re looking at this green zone here [around $1.80] in which we can be dipping all the way there and still be bullish before we’re going to make a breakout…
…we can be starting to expect $2.70 if this green zone is going to hold.”
Polygon is currently ranging between 0.00002170 BTC ($1.23) and 0.00003500 BTC ($1.98). According to the crypto analyst, Polygon could potentially break out of the range and “start accelerating upwards” and hit 0.00005200 BTC ($2.94).
Next up is the native token of blockchain platform Harmony (ONE). Van de Poppe says that potential short-term buying opportunities exist around the 0.00000417 BTC ($0.24) and 0.00000344 BTC ($0.19) support levels.
“This is an area [0.00000417 BTC] where I want to seek for potential long entries. If this one is lost, I’m seeking for a long entry in this region [0.00000344 BTC].”
The cryptocurrency trader says he is bearish on Harmony and would target profits of between 0.00000090 BTC ($0.005) to 0.00000500 BTC ($0.28).
“…definitely only looking for a bounce play to watch for 0.00000090 BTC to 0.00000500 BTC as most likely we’re going to make a lower high and continue to trend downwards.”
Van de Poppe says that Harmony’s key support levels lie between $0.21 and $0.23. The cryptocurrency analyst warns that Harmony is trending downwards and could plunge to $0.17.
“I think the only crucial support you should be looking at is this entire green zone [between $0.21 and $0.23] which is the range low. So if we dip here, I think you still want to look for potential longs.
However, we’ve already got a lower high taking place here, so potentially the trend is downwards. And if the trend is downwards, I’m also going to look around the area of $0.17.”
Next up is the utility token of the supply chain blockchain VeChain (VET). Van de Poppe says that a potential buying opportunity for VeChain exists at around the 0.00000210 BTC ($0.12) level if the altcoin prints a higher low on the charts. A higher low usually indicates an uptrend in technical analysis.
The crypto trader and analyst says VeChain is sitting at the $0.11 support level but will wait for Bitcoin’s price action to determine the direction of altcoins.
“When it comes to VeChain against USDT we are also back into support at this stage but still we’re looking for confirmation from Bitcoin.
If that one is going to confirm that the market is ready for continuation, that is the moment where altcoins are starting to fire off. And at this moment, I’m not convinced about Bitcoin yet.”
Future Altcoin Leader VeChain (VET) Sees Bullish Signals
- HODLers await a massive crypto market recovery.
- FXStreet explains how VeChain (VET) is setting itself up to be an altcoin market leader.
- VET price will see a trifecta of bullish breakouts.
Presently, the crypto market looks to be in turmoil. Like always, every market has its up and down days, and the greatest ups come soon after the most astounding downs. According to CoinGecko and CoinMarketCap, the market is struggling as of now.
However, many long-term holders, seasoned investors, and expert crypto analysts are still HODLing for their long-awaited crypto bulls. For instance, many expect the price of Bitcoin (BTC) to surpass $100,000 by Christmas time.
Similarly, many expect the price of altcoins to follow suit. For example, many expect the price of Ethereum (ETH) to surpass $10,000 soon. Likewise, here is FXStreet’s prediction for the price of VeChain (VET) to skyrocket.
In detail, the article speaks of how VET price is developing a trifecta of bullish breakouts. In fact, it talks about certain conditions that point to a significant drive higher. Specifically, the article stresses how VeChain will eventually become a leader in the altcoin market.
Currently, the price of VET is set for a huge bear trap. This will soon yield a spike of over 80%. This means that the time for existing and future short-sells will be over. To emphasize, the article highlights three main reasons on how VET will achieve this breakthrough.
In particular, the article mentions how VeChain is in a unique position to make the best of three powerful bullish signals. This comes from its Point and Figure chart. Right now, all three signals are set to trigger upon VeChain hitting the entry of the hypothetical long setup.
These three signals begin with the entry at $0.128. This will trigger an ascending triple-top breakout, confirm a Bear Trap Point and Figure pattern, and finally break the dominant bear market angle which will convert VET into a bull market.
Indeed, it will be quite a spectacle to see how the price of VeChain will play out in the next couple of days. On the positive, the price could go over $0.21. In contrast, the downside risk could take the price down to $0.07.
VeChain coiled and ready to break out to $0.21
- VeChain price develops a trifecta of bullish breakout conditions pointing to a substantial drive higher.
- VeChain is likely to become a leader in the altcoin market.
- Limited immediate downside risks for VeChain exist.
VeChain price is positioned for a massive bear trap, which would yield a spike of over 80%. The $0.002/3-box Point and Figure chart show why a breakout above $0.126 could initiate a flash-spike higher.
VeChain price is ready to pop, shattering any hopes of existing and future short-sellers
VeChain price has a rare combination of three powerfully bullish signals on its Point and Figure chart. And all three signals are considered authentic or confirmed if VeChain hits the entry of the hypothetical long setup. The three signals are as follows:
- An entry at $0.128 confirms an ascending triple-top breakout.
- An entry at $0.128 confirms a Bear Trap Point and Figure pattern.
- An entry at $0.1280 breaks the dominant bear market angle and converts VeChain into a bull market.
It is rare to have such a substantial collection of bullish reversal signals present at the same price level. Because of these three signals, they exacerbate the projected profit target from the Vertical Profit Target Method. Consequently, the profit target of $0.21 is just a hair below the 100% Fibonacci expansion at $0.212.
The theoretical long entry is a buy stop order at $0.128, a stop loss at $0.120, and a profit target at $0.21. The long trade idea is invalidated if VeChain price moves below the $0.106 value area.
VET/USDT $0.002/3-box Reversal Point and Figure Chart
If any weakness over the weekend (which is always a possibility during the weekend trading sessions), the downside risk should be limited to the 38.2% Fibonacci retracement at $0.072.