VeChain Soars 10%: Let's Talk About VET Breaking the Bullish Flag
VeChain's recent surge looks quite strong technically, feeling like it might reach new highs again.
The bullish triangle flag has broken, indicating that there may be further increases ahead, with $0.057 being a key hurdle.
Market confidence has returned, with open contracts at $88.23 million, and the RSI (Relative Strength Index) at 51.19, which is quite stable.
VeChain has surged out of the bullish triangle flag, and everyone is watching, feeling like after a few weeks of consolidation, it’s set to continue rising.
As market enthusiasm picks up, trading has become active, with the VET price currently at $0.05218, having risen 10.4% in the past 24 hours.
The question now is whether VeChain can maintain this momentum to challenge that key resistance level?
VET Price Trend: Interpretation of the Bullish Flag Breakout
Breaking the bullish triangle flag, the momentum is strong, and trading volume has also increased by 42.54%, boosting confidence.
The current resistance level is around $0.057; if it surpasses this hurdle, VET might just aim for $0.08.
However, everyone still needs to keep a close watch; if it encounters resistance at these levels, a pullback could occur. The breakout looks promising, and buyer interest is high, but whether it can sustain the rise will depend on the following movements.
VeChain Technical Indicators: Still Strong
The technical indicators also look quite optimistic, with an RSI of 51.19, not yet overbought, indicating room for growth.
The 9-day and 21-day moving averages have also crossed, which is a good sign and suggests the potential for continued upward movement.
These indicators suggest that this breakout is supported by technical strength, and people may be looking forward to further increases.
Interest in Vocational Education and Training: Slightly Decreased
Although the price has risen, interest in vocational education and training has slightly decreased, dropping from over 0.7% to 0.1%. Perhaps social media interest hasn't caught up with the price performance.
However, this divergence may also indicate that this breakout is being driven by large players rather than retail speculation, which could be more reliable.
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