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Šios VET/USDT pair has been wobbling inside an ascending triangle pattern, reflecting the ongoing consolidation phase for traders. However, the altcoin facing strong supply pressure from the 20-day EMA is slumped back to retest the ascending trendline. Can this rising support replenish the bullish momentum?
Pagrindiniai klausimai
- The VET price retest the support trendline for ascending trendline pattern
- The triangle pattern may pump the VET price by 30%
- The intraday trading volume in the VET price is $251.6 Million, indicating a 30% gain
Šaltinis- Tradingview
The March 31st failed attempt to sustain above the $0.082 resistance triggered a V-top reversal in Vechain(VET) price. As a result, the downfall plunged to the first quarter bottom support of $0.044, but submitting to broader negative sentiment; the buyers couldn’t hold it for long,
On May 9th, the VET sellers gave a massive breakdown from the $0.044 support, signaling the extension of the ongoing downtrend. Thus, the coin price dropped 45% and reached a new low of $0.0241.
Since then, the VET has witnessed high volatility, wavering inside an ascending triangle pattern. A rising support trendline and $0.44 neckline are the key levels for this pattern, mounting a no-trading zone within it.
An expected breakout from the $0.44 breakout may bring a pullback opportunity for traders, targeting the 30% high $0.443 mark.
Alternatively, the support trendline breakdown may sink the altcoin back to the May low of $0.024.
Techninis rodiklis
The daily-RSI slope shows a similar growth action, indicating a genuine recovery in price. Furthermore, the indicator reclaiming its spot in the bullish territory would give additional confirmation for coin holders.
The 20-day EMA has given constant resistance to VET price ever since it turned down from the $0.082 mark. Thus, the altcoin still struggling to break this resistance keeps the fallout possible on the cards.
- Atsparumo lygis - 0.034 ir 0.04 USD
- Palaikymo lygiai – 0.0286 USD ir 0.028 XNUMX USD
Pateiktame turinyje gali būti asmeninė autoriaus nuomonė ir jis priklauso nuo rinkos sąlygų. Prieš investuodami į kriptovaliutas, atlikite rinkos tyrimus. Autorius ar leidinys neprisiima jokios atsakomybės už jūsų asmeninius finansinius nuostolius.
Source: https://coingape.com/markets/vechain-price-analysis-falling-vet-price-tease-0-03-breakdown/