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VETUSD trade ideas

Despite these challenges, VET attempted a breakout Starting from the last week of October 2023, VeChain (VET) showed an upward trend, forming higher highs and lows until it hit the supply level at $0.0549 by early 2024. However, the price faced resistance at this level, failing to break through after three attempts, and was pushed down by bearish pressure. By mid-May 2024, VET found support at $0.03324, but this level also failed to hold, leading to a further decline towards the initial demand zone by August 5th. Over the past six months, VET has been under consistent selling pressure, resulting in a 65% price drop. This downtrend has formed a falling wedge pattern, highlighting a bearish market sentiment. A critical level to watch was $0.03300, which was a significant point for traders. Despite these challenges, VET attempted a breakout after a liquidity grab on August 5th, 2024, but faced strong resistance at $0.02395. The upper border of the declining wedge and the 50-day EMA band could add to the downward pressure. On the other hand, if VET manages to break out, it could rise towards yearly highs. Enthusiasts like @CryptoYapper believe a breakout is imminent. x.com Currently, key support levels for VET are at $0.02150 and $0.02055, while resistance levels are at $0.02730 and $0.03290.
COINBASE:VETUSDLong
by Sam_TCR
over the last five months is that VeChain (VET) has Seen SPThe price structure exhibited that in the VeChain (VET) price an upward trend was witnessed from the end of the week of October 2023. It built higher high peaks and lows until reaching the supply level at $0.0549. The price made three unsuccessful attempts to surpass the resistance at the supply level but failed as bears pushed it toward the downward side. The VET price gradually plunged and later developed its support at $0.03324 by mid-May 2024, but that too failed. The dominance of bears led it toward the initial demand zone by August 5th. What has been observed over the last five months is that VeChain (VET) has experienced persistent selling pressure, resulting in a 55% drop in its price. This sustained downtrend has created a dynamic falling wedge trendline, underscoring a prevailing bearish sentiment in the market. A crucial level to monitor is $0.033, which represents a significant juncture for traders. Despite these obstacles, VET recently attempted a breakout after a liquidity grab on August 5th, 2024, but the $0.02395 looms as a strong hurdle. The coinciding declining wedge's upper border and 50-day EMA band resistance could lead towards more downward pressure.
COINBASE:VETUSDLong
by Sam_TCR
1
VeChain Price Behaviour Over The Daily Chart Over the last five months, VeChain (VET) has experienced consistent profit-taking, which resulted in a 56% decline in its price. Meanwhile, this downward trend has led to a spree of lower lows, followed by horizontal support levels. A significant change in character level was noted at $0.033, marking a crucial point for market participants. Despite these several challenges, the VET price has managed to pierce through bear sentiment for a brief rally from the $0.02395 support level. However, it could not sustain the higher level gains at $0.033, which led to a renewed bear pressure. This failure to maintain the breakout has indicated the continued volatility in VET and potential further downward pressure in its price in the near term. Similarly, the price has traded below the 50-day and 200-day EMAs for a longer period, which was followed by a death cross in the EMA bands. Moreover, the indicators depict the bearish angle, as the MACD and the signal line also developed a death cross, with both metrics aimed into negative territory. The histograms on the charts were negative at 0.00052, indicating a bearish sentiment. The RSI fell below the 50-level and the 14-day SMA, remaining below these levels for a prolonged period at 35.38. Additionally, its Support levels for the VeChain (VET) are at $0.020 and $0.016, while resistance levels are at $0.033 and $0.043.
COINBASE:VETUSDLong
by Sam_TCR
1
VeChain Price Rises From The Ashes: Can Bulls Keep The PaceVeChain Price Rises From The Ashes: Can Bulls Keep The Pace? VeChain price took a rebound from bottom and Surged nearly 18% a week. The Open Interest (OI) contracts have noted a 30% rise a week from $12 Million to $16 Million. VeChain price made a strong comeback from the lower levels and jumped nearly 18% a week. The bulls registered their presence near the $0.022 level as the price made a strong comeback. The recent surge marks an improved sentiment and possible bullish reversal on the horizon. In tandem with the price rise in the recent sessions there has been an interesting development in the on-chain metrics which validates a comeback by the bulls. However, the long trend still looms towards the bearish side below the 200 day exponential moving average. Currently, the price hovers at a very critical juncture from where either a bullish reversal or a bearish continuation may follow through. Let's dive deeper analyzing all the metrics and try to find out a clear trajectory for VeChain for the upcoming sessions. OI Data Soars By 30% VeChain (VET) is a versatile, enterprise-grade Layer 1 smart contract platform. Renowned for pioneering real-world enterprise applications, VeChain leverages IoT technologies, NFC chips, and blockchain to address data-related challenges across various industries. The recent sessions saw a strong surge in the VET price indicating a comeback by the bulls. Moreover, the price surge has been backed by a significant rise in the open interest contracts. As per the data obtained by an on-chain analytics website app.santiment.net, the open interest contracts have surged by 30% a week. The number of OI contracts jumped from nearly $12 Million to $16 Million a week. Moreover, the transaction volume has also taken a leap of 28.75% and has reached $38.38 Million a day. The volume to market cap ratio at 1.62% suggests a very low volatility. Vechain At A Golden Zone Of Fibonacci: What’s Next? While connecting Fibonacci from top to bottom swings, it was observed that the VET price was currently placed near the golden zone of Fibonacci. The 0.5 to 0.6 level of Fibonacci is considered as a golden zone of Fibonacci and helps to identify continuation or reversal of a trend. Now, if VeChain surpasses the golden zone of Fibonacci, it may validate a bullish reversal and the price may continue to soar higher. On the contrary, if VET suffers rejection and looms below, it may indicate a bearish continuation and the price may suffer more. The technical indicator exponential moving average implies a long term bearish outlook with a bullishness in the short term. Currently, the price hovers below the key 50 and 200 day EMA. The bulls have surpassed the 20 day hurdle and are looking to reclaim their presence above higher EMAs. Can VET Mark A Bullish Reversal? VeChain price surged nearly 18% in a week indicating an improved sentiment. The price took a rebound from the $0.022 level suggesting a potential bullish reversal. Moreover, This rise is supported by a 30% increase in open interest contracts, from $12 million to $16 million. Furthermore, The price was currently near the golden zone of Fibonacci (0.5 to 0.6 level), which could signal a continuation or reversal of the trend. Now, If VeChain surpasses this zone, it may confirm a bullish reversal. otherwise, a bearish continuation may show up. The long-term trend outlook remains bearish, however short-term bullishness is evident as the price hovers above the 20 day EMA.
CRYPTO:VETUSDLong
by Ritika_TCR
price manages to jump from the support zoneThe price structure of the Vechain price has shown an upside trend from the end of the week of October 2023. It generated higher high peaks and lows until it reached the supply level at $0.0511. The VET price made three unsuccessful attempts to move past the resistance at the supply level but failed as bears pushed it toward the downward side. The VET price gradually plunged and later developed its support at $0.03300 by mid-May 2024. However, the VET price stopped plunging at a critical support level of $0.03300 for the next two months, which showed consolidation; the VET had good support at this level. But bears stepped in again and pushed past this support and now have reached the previous resistance that turned support at $0.02395 on the daily chart By June 18th, 2024. The VeChain asset displays bearish characteristics as dynamic resistance pushes it downwards, MACD below the zero line in bearish territory, and RSI below the median line. Meanwhile, this week, there is some bullishness in price as the VET price surged 2.37% and approaches slowly towards the dynamic resistance. Similarly, the MACD has generated a bullish cross, where the histogram stays at 0.00027, and the RSI flashes at 40.32, which has taken support from 14-SMA, showing recovery from oversold to overbought. 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 coming, based on buyer's interest. Despite all significant indicators being bearish, the support seems very strong. If buyers step in, a bull attempt could also pop out. VeChain (VET) Price Forecast! At press time, the VeChain has been trading at $0.02672 with an intraday gain of -0.49. Also, this week, some healthy performance was attained, but overall lousy performance was achieved in the last month and three months by 23.70% and 40.37%, respectively. 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, its market cap is 2.17 Billion, and its 24-hour trading volume on all trading platforms amounted to $44.74 Million. Therefore, if the price breaks the major support, the decline could lead towards $0.020000 and $0.015000. On the flip side, if the price manages to jump from the support zone for the upside, it could break EMAs' dynamic resistance and aim toward the upper boundary and beyond. Thus, this makes the resistances $0.033000 and $0.045000.
COINBASE:VETUSDLong
by Sam_TCR
he price manages to jump from the lower boundaryThe price structure exhibits that the VeChain price was in an upward trend from the end week of October 2023. It built higher high peaks and lows until reaching the supply level at $0.0511. The price made three unsuccessful attempts in order to surpass the resistance at the supply level but failed as bears pushed it toward the downward side. The VET price gradually plunged and later developed its support at $0.03324 by mid-May 2024. However, the VET price stopped plunging at a key support level of $0.03324, where the lower boundary of the declining wedge is also present. Thus, the VET has strong support at this level. The VeChain asset is displaying bearish characteristics as dynamic resistance is pushing it downwards, and MACD shows a bearish cross. Meanwhile, the RSI is falling smoothly towards oversold territory, implying that the VET asset is losing momentum. Despite all major indicators being bearish, the support seems very strong. If buyers intervene from the lower boundary, another attempt at an upward trend could pop out, as well. At press time, the VeChain has been trading at $0.03239 with an intraday fall of -1.59. Also, it has attained bad performance in the last week, month, and three months by -4.24%, -7.65%, and -33.91%, respectively, implying a stable downward direction. Its circulating supply is 72.71 Billion, its market cap is 2.36 Billion, and its 24-hour trading volume on all trading platforms amounted to $88.57 Million. Therefore, if the price manages to break the lower boundary of the wedge, the decline could lead towards $0.025000 and $0.020000. On the flip side, if the price manages to jump from the lower boundary for the upside, it could break the dynamic resistance of EMA's and could aim towards the upper boundary and beyond. Thus, this makes the resistances $0.045000 and $0.050000.
BITFINEX:VETUSDLong
by Sam_TCR
VeChain token demonstrates bullish momentumThe price structure shows that the Vechain price was in an uptrend from October end of 2023, and it built a higher high and lows until it reached the supply level at $0.0510. At the supply level, the price tried three times to surpass the hurdle but failed as bears pushed the price downwards and gradually deteriorated, which later formed its support at $0.03325 by mid May 2024. However, the VET crypto has revealed a sign of recovery as the price stopped plunging, and appears that bulls are regaining their ground slowly, as they are trying to ride on an upward trendline. On the daily chart, VET appears primed for an ascent to the upper trendline of a wedge pattern in the short term. Should it break through this wedge in the long term, its anticipated to challenge and potentially surpass higher resistance levels as well, and propelling it to new heights. Moreover, the VeChain token demonstrates bullish momentum, maintaining a position above the critical 200-day EMA and nearing the 50-day EMA from below. The MACD indicator reinforces this sentiment with a bullish crossover, with growing histogram at 0.00002698, and RSI glared at 46.01, which has been surging from oversold vicinity. Despite a 3.19% decrease in value over the past 24 hours, with VET trading at $0.03547, the outlook remains optimistic. If buying interest persists, the token's price could recover from its current position. The immediate price targets are set at $0.0430 and then $0.0510. Conversely, should VET fail to sustain above the support level of $0.03290, there's a risk of further decline in its value.
BITFINEX:VETUSDLong
by Sam_TCR
1
Vechain Price Prediction: Is VET Token Price Ready For A BreakouVechain is a layer 1 smart contract platform especially designed for the real world enterprise. It is focused on delivering incentive based sustainable dapps through its new platform VeBetter Dao. The protocol has always remained a driver of blockchain in business and is working continuously in that direction. Vechain uses Proof Of Authourity to secure their network which also uses very low computational power in comparison to others
BITFINEX:VETUSDLong
by Ritika_TCR
The VET asset is showing bullish strengthThe VeChain token surge from the demand zone at $0.01600 to $0.05500 by February 2024. Along the way, the price broke through in-between resistance and has since displayed signs of sustained strength above key EMA's. VeChain's recent price structure has shown signs of recovery as it spiked from a crucial level of around $0.04300 on the chart and highlights major sustenance neat supply level. It seems that the crypto token is poised to continue this massive surge, as it prepares to break through the VET resistance supply level and soar to new heights, after jumping the supply level. Similarly, The VET asset is showing bullish strength, with increasing capacity while maintaining above the major 20-day and 50-day EMA's. After conducting a thorough analysis, it appears that the price of the asset is showing signs of a bullish trend, indicating there may be potential for further growth. Additionally, the VET asset has performed well over the past month, with a 63.00% increase, and over the past three months, with an impressive 66.50% increase. These positive trends suggest that the asset may be following a strong uptrend. According to VET price prediction, The crypto has experienced a decline of 3.73% in the last 24 hours and is currently trading at $0.04858 as of press time. However, if there is a sudden surge in demand for the VET token, its price could continue to rise from its current level. In such a scenario, the next price target for VET could be $0.06000, with a resistance level of $0.05500. However, if the crypto price fails to stay above the $0.04300 level, it could continue to decline further as well.
COINBASE:VETUSDLong
by Sam_TCR
VET/USDT Signals Bullish Momentum: Promising Upside Potential 👀💎"Heads up, Paradisers! VETUSDT (VeChain) is currently anchored in a highly advantageous demand zone, providing significant support to the price action. This robust demand level signifies substantial buying interest in the market, suggesting a potential price ascension. 💎After successfully securing support at the demand level, VETUSDT has shown resilience and the ability to resist selling pressure. This bullish indication, coupled with a notable Volume Profile Range, signals a shift in market sentiment and raises the possibility of a price reversal and upward trajectory.
BITFINEX:VETUSDLong
by MyCryptoParadise_Simon
💡Don't miss the great buy opportunity in VETUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.1646). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . VETUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 60. Take Profits: TP1= @ 0.1870 TP2= @ 0.1976 TP3= @ 0.2144 TP4= @ 0.2300 TP5= @ 0.2490 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:VETUSDLong
by ForecastCity_ME
5
💡Don't miss the great buy opportunity in VETUSDTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.07923). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . VETUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 60. Take Profits: TP1= @ 0.08989 TP2= @ 0.09526 TP3= @ 0.10170 TP4= @ 0.11550 TP5= @ 0.12250 TP6= @ 0.14157 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:VETUSDLong
by ForecastCity_ME
4
VET / USD Price Analysis: Overcoming Selling PressureVET / USD Short-term price analysis VET has a bearish short-term outlook, with the cryptocurrency now trading below its 200-period moving average on the four-hour time frame. The four-hour time frame is also showing that a large head and shoulders pattern is starting to take shape. Bulls need to move price above the April 19th swing-high to invalidate the bearish pattern. Technical indicators on the four-hour time frame have turned bullish and signal a potential upside. Pattern Watch Traders should note that the VET / USD pair will fall towards its current 2019 trading low if the head and shoulders pattern is triggered. Relative Strength Index The RSI indicator on the four-hour time frame is bullish and is showing scope for future upside. MACD Indicator The MACD indicator on the four-hour time frame is currently bullish, with the MACD signal line and MACD histogram both generating strong buy signals. Fundamental Analysis VET has been up for the past several weeks with some positive news. During the VET Summit in San Francisco, the company has announced that it is working with BMW on building the VerifyCar app which addresses the mileage fraud problem present in one-third of vehicles in Germany. Deloitte has also announced that it will develop a blockchain solution based on VEThor and migrate from the Ethereum network. VET / USD Medium-term price analysis VET has a bullish medium-term trading outlook, with the VET / USD pair still trading above its trend-defining 200-day moving average. The daily time frame is showing that the VET / USD pair has started to come under technical selling pressure after price fell below key trendline support. Technical indicators on the daily time frame are attempting to correct higher following the recent decline in the VET / USD pair. VET / USD Daily Chart by TradingView Pattern Watch Traders should note that a valid falling wedge pattern is also present on the daily time frame. Relative Strength Index The RSI indicator on the daily time frame has started to turn bullish and shows scope for further upside. MACD Indicator The MACD indicator is neutral on the daily time frame, with the MACD indicating currently failing to generate a clear trading signal. Fundamental Analysis VET has shown strong fundamentals at the beginning of 2019 which should positively affect the adoption of its network. The team continues to develop strong partnerships and is starting to present working products that utilize its blockchain. These factors should help the project to grow in the medium-term. Conclusion VET is attempting to recover higher after relinquishing a portion of its recent gains. Short-term bulls will need to work hard to negate the bearish pattern on the four-hour time frame, while the daily time frame is showing that buyers must move price above key trendline resistance or downside pressures could return.
BINANCE:VETUSD
by CryptoBriefingTA