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VeChain Price Analysis: VET/USD breaks above the triangle formation

FX Street
Updated:
  • VET/USD bulls retained control of the market for the second straight day.
  • The MACD shows decreasing bearish market momentum.

VET/USD daily chart

VET/USD daily chart

VET/USD bulls retained control of the market for the second straight day as the price rose from $0.017 to $0.0.0179. In the process, the price has risen above the triangle formation. The MACD shows decreasing bearish market momentum, while the RSI is trending around 61.53, next to the overbought zone. 

VET/USD has healthy support at $0.0164, $0.017 and $0.0172 (SMA 20). On the upside, there are two strong resistance levels at $0.019 and $0.0197.
 

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