VET / USD price snowballs after double top around $ 0.063

A short-term recovery may have started in the cryptocurrency market as the majority of altcoins are green. The technical trading side of the market is currently reflecting the general sentiment of the landscape as BTC remains the barometer for the ecosystem trend. Vocational education / USD rises for the ninth consecutive year since the MA 50 rebound on February 27th. Buying pressure is increasing and profits are likely to continue. The token is now on the right track as the VET / USD price snowballs top double the peak by $ 0.063. VeChain (VET) has rallied sharply after falling to a low of $ 0.0340. However, its market cap is still the 21st largest at $ 3.8 billion, with a trading volume of $ 755.9 million in the last 24 hours. Voc is dancing at $ 0.0621 at the time of writing, after hitting the intraday high of $ 0.0647. VeChain price has made a series of higher highs and higher lows from the $ 0.0115 low. The continuation of this bull cycle is supported by the fact that the price of vocational training has been above the MA 50 since December 27, 2020. VeChain has extensive experience delivering blockchain applications to a wide variety of industries.

* *VET / USD rises for 9th straight day after recovering from MA 50 on Feb.27
* *The token is now on the right track as VET / USD price snowballs top double the peak by $ 0.063
* *A continuation of this bull cycle is supported by the fact that the price of vocational training has been above the MA 50 since December 27, 2020

Key levels
Resistance Levels: $ 0.075, $ 0.070, $ 0.065
Support levels: $ 0.060, $ 0.055, $ 0.050

VET / USD Daily Chart: bullish

VET / USD Daily Chart

VeChain’s uptrend continues and earnings hit the high of $ 0.065 after a technical breakout from the double top at $ 0.063. The pair rose from the low of $ 5,458 on March 5th, followed by 4 days of bullish run. This technical pattern has a bullish bias that can increase buying pressure.

However, if selling pressures return on the pair, VeChain will cancel the rally and seek further impressive support. Expected dips may offer better opportunities to re-enter the bullish market around the $ 0.0456 support level and a rising MA 50 is expected to contain bulls at $ 0.040 and keep them intact.

VET / USD 4-hour chart: bullish

VET / USD 4 hour chart

Vocational Education / USD has rebounded from previous highs of $ 0.0609 after the 4-hour MA 50. Vocational training could be based on the idea that as the use case increases, retailers will invest in VeChain. The short time frame shows that the $ 0.065 resistance level is a potential obstacle to VET / the USD.

The trend remains strongly bullish; However, cheap traders can look for very likely countertrend trades. Trading below the short-term withdrawal level at $ 0.0559 could sell off the MA 50 at $ 0.050. The VET / USD pair is only bullish if it trades above the $ 0.0456 level. If the VET / USD pair trades below the $ 0.0456 level, sellers can test the $ 0.0414 and $ 0.0363 levels.

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