Promising investment opportunities for VeChain ($VET )
Technical analysis:
1. Current trend:
The currency is showing a slight upward movement, and has broken resistance levels on small time frames such as 0.058.
If the momentum continues, it can target 0.065 as the next resistance area.
2. Technical indicators:
The Relative Strength Index (RSI) is currently in a balanced range (close to 50), indicating neither overbought nor oversold conditions.
Moving Averages: The price is moving above the 50-period moving average on the hourly time frame, which increases the possibility of a continuation of the uptrend in the short term.
3. Trading volume:
Trading volume over the last 24 hours has been relatively strong, indicating interest from traders in the currency.
Trading Strategies:
For the short-term investor: Breakouts of resistance levels can be exploited to enter with a take profit at 0.065, with a stop loss below 0.058.
For the long-term investor: VeChain has strong fundamentals thanks to its partnerships with companies like BMW and Walmart, which enhances its future growth opportunities.