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- Vechain price prediction showcases the VET rally of 2023 that might lead VET crypto to $0.1.
- VET crypto is trying to sustain at 20-EMA and reach 50, 100 and 200-days Daily Moving Average.
- VeChain prices need to acquire strong uptrend momentum to break out from the distribution phase by mid 2023, says analysts.
The VET cryptocurrency’s recovery rally is expected to begin as soon as it breaks through the resistance mark, according to the VeChain price prediction. The VeChain price may reach the $0.1 recovery level as soon as the accumulation rate increases and VET exits the main resistance level at $0.025. In order for the VeChain price to further recover and reach $0.1, VET must maintain at the primary resistance level of $0.244 for the VET cryptocurrency price to soar with powerful uptrend momentum.
Vechain’s price was $0.02299 and during the day’s trading activity, it increased by 0.80% in market value. However, during the intraday trading period, trading volume was at 112.992 K and is still below average. Market capitalization to volume was 2.7%.
Source: TradingView
According to Vechain price prediction, the price of the VET cryptocurrency is rising over the charts. The trading volume during the intraday trading session needs to grow because it is currently below average. The VeChain price is still increasing while waiting for the 20, 50, 100, and 200-day Daily Moving Averages to be reached.
Vechain’s price originally dropped during the distribution period from the upper resistance level at $0.0286 and dropped more than 30% to $0.019. The VET cryptocurrency was pushed towards $0.0244 by the rate at which buyers were accumulating, but it couldn’t hold and dropped yesterday. The Vechain price is still making an effort to increase significantly, though.
Will VeChain Price Reach $0.1?
According to the VeChain price prediction, the 2023 VET cryptocurrency is anticipated to develop more quickly than it did the previous year. Vechain’s price is expected to ultimately reach $0.1 because whales are also assisting the upward trend, according to analysts.
VET Crypto: Technical Analysis
Source: TradingView
Technical indicators suggest that the price of the coin VET is on the rise. The VeChain price’s uptrend momentum is indicated by the relative strength indicator. The RSI was 47 and was attempting to leave neutrality.
The MACD shows the upward trend of VeChain Price. The MACD line is higher than the signal line after a positive crossover. Investors in VeChain must wait until the commencement of the cryptocurrency rally, following VET’s breakthrough of the key resistance level of $0.025.
Summary
The VET cryptocurrency’s recovery rally is expected to begin as soon as it breaks through the resistance mark, according to the VeChain price prediction. Vechain’s price originally dropped during the distribution period from the upper resistance level at $0.0286 and dropped more than 30% to $0.019. Technical indicators suggest that the price of the coin VET is on the rise.
Technical Levels
Resistance Level: $0.025 and $0.030
Support Level: $0.0224 and $0.020
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.