VET coin price action threatens a fakeout from the $0.7 resistance. Should you consider buying or wait to see today’s closing? Key technical points: VET prices jump above the 20-and-100 EMA line The daily-RSI slope retests its neutral line Finally, the 24-hour trading volume of VeChain is $313.7 Million, marking a 33.7% rise. Past Performance of VET Under the influence of bullish RSI divergence, the VET coin price renounced from the $0.44 bottom support. The rising bullish momentum bolstered buyers for a bullish breakout from the descending triangle pattern on March 16th. The sustained buying doubled the altcoin value in the latter days. During the recovery rally, the buyer breached two significant resistance at $0.555, followed by $0.7. Source-Tradingview VET Technical Analysis The bullish rally reached the $0.894 mark on March 31st, its highest level in almost three months. Furthermore, the coin chart showcased a minor retracement to retest the breached resistance ($0.7). However, the retest extended beyond expectation and gave a candle closing below $0.7 on April 7th. The VET price is struggling to sustain below the $0.7 mark, validating if the fakeout is real or not. Yesterday’s green candle pushed the VET price above the 20-and-100 EMA lines, which are now preventing coin holders from a bull trap. However, the 200-day EMA remains a troublesome barrier for buyers. RSI Indicator: The RSI slope displayed a significant dip co...
