VeChain Regains Lost Traction as It Rises by Over 8% in Intraday

VeChain (VET) News

VeChain leaps to be one of the top 25 cryptos of the market after the coin regains the lost traction and is now up by over 8% in the intraday with a candle confirming bullish engulfing on the daily chart. The token and the native platform are making it all worth the networkers’ investments as VET extends to involve with IBM and Food safety that makes VeChain ubiquitous.

In this respect, VeChain holds a strong fundamental and technical outlook in the crypto market globally, which is not far from taking over the worldwide supply chain economics.

Alongside, as per the VET price prediction, the price is pretty bullish, and the coin trades in green testing key resistances, as VeChain price currently trades at $0.0193 after having crossed above $0.022 in the wee hours of the trading session today.

As we near the end of this phenomenal year, we cannot ignore the fact that VET has strengthened by over 1500% from hitting the YTD lowest in March at $0.00142 to breaching the YTD high at $0.0232 in August. With this, it was earlier in the day today when VET reconciled to regaining the same height, but with strong resistances, it corrected downwards.

VeChain Price Analysis

VET/USD is bullish as per its current price movement and momentum of the coin against the US Dollar. With intraday movement acing the space, we cannot forget that VeChain has been one of the most gainful and talked about digital assets of the year and the fact that it has grown more than the largest cryptocurrency by market capitalization, Bitcoin, this year.

VeChain retains all the support with a bullish momentum on the daily chart, and the MACD 2-day chart shows a clear bullish crossover after regaining from the nearest and monthly support of $0.0115. The intraday demand of the coin also spikes, and therefore, the RI of the coin climbs to breach the overbought zone at 60.09.