CandleFocus VeChain at a Crossroads: Eyes on $0.030 Amid Breakout Prospects
2024-10-01
Author: Content Editor
The VeChain cryptocurrency has experienced a significant decline but is now challenging its overhead resistance trend line and seeking a breakout. The current price has dipped to the 50-day EMA, but hopes remain for a breakout fueled by the broader market recovery. The daily chart shows a continuing downtrend, with bearish pressure creating resistance trend lines. The recent bullish cycle faltered due to high selling pressure around crucial resistance levels, but VeChain has maintained its position at the 50-day EMA. A breakout is possible if the altcoin holds above this dynamic support and rallies above the 23.60% Fibonacci level. Critical support levels are at $0.02378 and $0.020.
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