CandleFocus VeChain Struggles at $0.20: Can Network Growth Propel a Recovery to $0.24?
2024-09-06
Author: Content Editor
The Vechain (VET) cryptocurrency is currently trading within a falling wedge pattern and has formed a death cross, leading to a bearish trend. However, there are signs that the VET price might rebound as network health improves. The total number of accounts on the Vechain network has almost doubled in the past year, indicating healthy development. The support trendline has held the price three times in the past two months and the daily RSI line shows a bullish divergence. However, the 50-day EMA and the 200-day EMA are in a bearish alignment. The next support levels for VET are at $0.01922 and $0.0175650, while resistance can be found near the 50-day EMA at $0.24. The next target level is the 200-day EMA at $0.028.
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