VeChain (VET) is a blockchain-powered cryptocurrency with a strongly rising potential for a recovery rally. After suffering a decline of more than 30% from the upper resistance level at $0.0286, the VET coin is attempting to rise sharply. To reach the recovery rally level of $0.1, VET must overcome the primary resistance level at $0.025 and maintain a major resistance level of $0.244 with a strong uptrend momentum. Technical indicators such as the relative strength indicator (RSI) and the moving average convergence divergence (MACD) shows that the coin is under strong selling pressure with its RSI towards oversold and a positive crossover in the MACD line.
It is predicted that the VET coin's accumulation rate will increase and it has the potential to pass over the resistance level. When it does, the VeChain price may hit the $0.1 recovery target. The critical resistance levels are at $0.025 and $0.030 while the significant support levels are at $0.0229 and $0.020. It is important to note that crypto trading and investing comes with a risk of financial loss and should be done carefully.
John Hughes
- 2023-04-06
VET on the Way to a Recovery Rally
VeChain (VET) is experiencing a decline of more than 30% from its upper resistance level but is attempting to rise sharply. Technical indicators such as the relative strength indicator (RSI) and the moving average convergence divergence (MACD) suggests the coin is under strong selling pressure, and its accumulation rate is expected to increase.
