The post Can VeChain Price Surge 2x In The Future appeared on BitcoinEthereumNews.com.

The price structure of VeChain crypto has shown an upside trend since the last week of October 2023. It generated higher high peaks and lows until it reached the supply level at $0.0511. VET made three unsuccessful attempts to move past the resistance at the supply level. It gradually plunged and later found support at $0.03300 by mid-May 2024. VeChain (VET) 1.D. | Source: TradingView However, VET stabilized and consolidated at the critical support level of $0.03300 for the next two months. It found strong support at this level, but the bears stepped in again, smashing this support. The price reached the previous resistance-turned-support at $0.02395 on the daily chart by June 18th, 2024. Indicator Overview of VeChain (VET) The VeChain price chart shows dynamic resistance pushing the crypto downwards. MACD is below the zero line in bearish territory, and the RSI is below the median line.  Notably, VET as it surged 2.37% and is slowly approaching the dynamic resistance. Similarly, the MACD generated a bullish cross, with the histogram at 0.00027. The RSI flashed at 40.32, as it took support from the 14-SMA, showing a recovery from the oversold zone to the overbought zone. Indicators Vechain (VET) 1.D. | Source: TradingView Overall indicator analysis implies that the VET asset was in a bearish state, and despite all of this bearishness, the price has been showing traits of a bull run. Despite all significant indicators being bearish, the support seems very strong. If buyers step in, a bullish rise is likely. VeChain (VET) Price Forecast! At press time, VeChain was trading at $0.02672 with an intraday gain of 0.49%. This week saw healthy performance. Thus, overall price performance symbolizes that the overall trend was bearish, but this week has witnessed some optimism in price. Its circulating supply is 80.99 Billion,…

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Filed under: News - @ June 29, 2024 10:24 pm