Vechain Token CMP Under Flag Pattern, Above Vital DMA’s

  • Vechain token over the monthly chart is trading under the flag pattern, meanwhile placed above its all vital Moving averages of 20, 50, 100, and 200-Day lines. 
  • The digital asset is trading sideways above the major DMA lines and is stuck under the sideways channel, with no sign of clear momentum. 
  • The pair of VET/BTC is trading at 0.000002033 BTC with a 24-hour loss of -5.16%, and the ratio of VET/ETH is CMP at 0.00003148 ETH with an intraday dip of -1.17%.  

Vechain token at the monthly chart is trading under the flag and pole pattern. After a strong bullish momentum, the token is now trading flat. The digital asset was trading flat under the narrow range and placed above all its major DMA lines. Meanwhile, VET bulls are trying to sustain the crypto asset above its short to medium-term moving averages. We can see the next lap of bullish momentum if the counter breaks above the range of the pattern.

Volume activity over the monthly chart is lower and needs to improve for a sustainable rally in the upcoming trading sessions. Support on the lower side is $0.1040 and $0.0952, whereas resistance on the higher side is $0.1190 and $0.1245.

Vechain token trades sideways under the narrow range over the weekly chart

Vechain token trades sideways under the narrow range over the weekly chart, while volume activity is recorded near the average line. The technical parameters are slightly projecting a bearish or negative trend, while the strength of VET is also declaring. The bulls have to keep their eyes on the higher side resistance line of and above it; we can see a strong bullish rally. VET price is trading at $0.1115 with an intraday gain of +0.76%, and the volume to market cap ratio is 0.07498.  

Relative Strength Index (NEUTRAL): vechain token RSI is trading flat after testing the higher levels. The coin is trading flat under the neutral zone with a gradual selloff from the overbought zone, CMP at 53. 

Moving Average Convergence Divergence (BEARISH): The daily chart indicates a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trading under pressure below the seller’s line (red).      

Support levels: $0.1040 and $0.0952

Resistance levels: $0.1190 and $0.1245.