VET Technical Analysis: Retest Reversal Soon To Challenge 50-day SMA

VET technical analysis shows a post-retest reversal from the broken resistance trendline of the falling wedge, teases a price jump to $0.025. Key Technical Points: VET prices have increased by 5.82% in the last 24 hours. The price action shows a bullish reversal from $0.020, gaining trend momentum. The 24-hour trading volume of VeChain is $92Million, indicating a drop of 8.73%. Past Performance of VET The VET prices showcase a bullish failure to surpass the $0.025 level resulting in a retracement to the broken trendline as a retest of the falling wedge breakout. The retracement Rally takes a bullish turnaround from the $0.021 support level, accounting for an 11% jump in the last three days. The V-shaped reversal from the broken trendline has a neckline at the $0.025 mark. Source – Tradingview VET Technical Analysis The VET price chart shows an increase in trading volume, supporting the reversal rally but retraces worth the Doji formation yesterday. Hence an increase in the intraday trading volume is a must for a prolonged uptrend above the $0.025 mark. The MACD indicator shows an increase in buying pressure as the positive histograms intensify with the fast and slow lines avoiding a bearish crossover. Hence the technical indicator shows a bullish bias and expects the prices to reach the 50-day SMA. The RSI indicator shows a sharp reversal in the nearly oversold region, surpassing the 14 days average line. However, the slope is...