Vechain price prediction: Vechain moves higher yesterday, ready to spike higher?

TL; Defalcare DR

• VET tests $0.13 resistance.
• VET/USD finds support at $0.095.
• VET trades below $0.14.

Astăzi Previziunea prețului Vechain is bullish as the market continues moving higher over the last 24 hours and looks to breach the $0.14 previous swing high. Once it is done, we expect VET/USD to reach the next target at $0.155 over the following days.

The overall market trades with mixed results with Bitcoin down 2 percent and Ethereum by 3 percent. Ripple is among the worst performers with a loss of 6 percent, while Dogecoin is up 10.4 percent.

VET/USD opened at $0.12 after a slight bearish close yesterday after resistance was found at the $0.13 mark. Therefore, once VET/USD retraces further and sets a higher low, we should see another push higher this week.

Mișcarea prețului Vechain în ultimele 24 de ore

The VET/USD price moved in a range of $0.1173 – $0.1273, indicating mild volatility. 24-hour trading volume has decreased by 17.35 percent and totals $935 billion. The total market cap trades at $8 billion, ranking the cryptocurrency in 20th place.

VET/USD 4-hour chart – VET no ready to move higher

On the 4-hour chart, we can see VET/USD moving higher over the past days as a higher low was set around $0.095. 

The overall market continues to reverse the major several-week downswing that took the market from a $0.28 high to a $0.05 low late last month. Over the past weeks, VET/USD could not move any lower and slowly started to reverse, setting higher lows.

However, higher highs are yet to be seen as the last push higher resulted in another test of $0.14 resistance. Therefore, until the $0.14 resistance breaks, we can expect VET/USD to move sideways and form a consolidation in an increasingly tighter range. 

From there, the VeChain price should move higher above the $0.155 mark and resume trending higher later this month. In this case, we can expect a new all-time high set by the end of this month.

Currently, the best option is to wait for further price action development in the form of a new higher swing high and enter the market on a retracement. 

Predicția prețului Vechain: Concluzie 

Vechain price prediction is bullish as the market continues moving higher over the past few days after setting a new higher low at $0.095. Currently, the market retraces after reaching the $0.13 mark, indicating that further upside will likely be seen shortly to the $0.14 mark.

While waiting for further Vechain price action development, read our guides on Cardano, ZCash, și Litecoin.

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Sursa: https://www.cryptopolitan.com/vechain-price-analysis-2021-06-02/