- Vechain coin is trailing near the hurdle of 20-day short term moving averages, while the volume falls below the average line
- The crypto asset is trading on a bearish over the monthly chart, as trading below the all vital moving averages of 20, 50, 100 and 200-DMA
- The pair of VET/BTC is trading positively at 0.0000025 BTC with a minor gain of +1.01%, and the ratio of VET/ETH is CMP at 0.00003778 ETH while increases over +0.16% in the last 24-hours
Over the monthly chart, the Vechain coin is trying to rebound from the lower levels, but the volume needs to improve. The currency is trading near the 20 and 200-Day moving averages hurdle, while the breakout will create a strong momentum.
Once the closing of day candles above the 20 and 200-DMA with supportive volume, a sharp recovery is soon expected. Volume is still not improving, and for a positive breakout, the volume needs to support upcoming trading sessions. Support on the lower side is at $0.0780 and $0.0560, whereas the resistance on the higher side is at $0.0955 and $0.1130.
Vechain Coin Trading Under the Rising Channel Pattern
Vechain coin over the weekly time frame is trading on a bullish note, and the bulls are near the support zone. The coin is trading under the rising channel pattern while making higher highs and lower low sequences. Meanwhile, either side breakout with supportive volume will create strong significant momentum in upcoming trading sessions. Volume over the 4-hour time frame is slightly lower and is trading near the average line. Presently the coin is trading at $0.842 with an intraday loss of -3.24%, and the volume to market cap ratio is at 0.09912.
Relative Strength Index (NEUTRAL): Vechain coin RSI is presently projecting flat or neutral momentum over the weekly chart. In contrast, the RSI witnessing a slight positive momentum CMP near 45.
Moving Average Convergence Divergence (BEARISH) currently indicates a negative trend on the daily chart. This is because the seller’s line (red) is overpowering the buyer’s signal line (green).
Support levels: $0.0780 and $0.0560
Resistance levels: $0.0955 and $0.1130.