• VET experiences bullish actions.
• The tokens surged to $0.053.
• VeChain’s stable support sits at around $0.048.

VeChain price function shows bullish preference today, registering further price increases. The alternative coin has exhibited positive trends since February 28. That narrative shift to bullishness had VET climbing to hit upper values of $0.053, following continued bullish efforts.

However, the alt recorded slow price oscillations since yesterday, hinting at an impending retracement. Nevertheless, bulls appear committed to taking the lead.

VET/USD 24Hr Chart – Bullish Trend Pushed Price to $0.053

VeChain sees upside price actions again as the 24hr timeframe confirms a bullish bias. VET/USD changed hands near $0.053 at this publication, following upward movements since February 28. The altcoin gained 2.65% within the previous 24 hours.

Also, the crypto stayed 14.17% high over the past seven days. VET’s trading volume declined by 0.96%, contributing to the low oscillations by the token’s price. Meanwhile, the market capitalization surged 0.77% within the past day.

Moreover, VeChain’s volatility maintained an upside stance with a decreasing setup, a bearish signal. The Bollinger’s upper limit stayed at $0.062, whereas the lower band’s value at $0.042 represented the coin’s support. The RSI climbs higher towards the neutral zone’s center at 49-index.

Further Technical Indications and Latest Development

The 4hr chart shows massive bullishness amid further price surges over the past four hours. Meanwhile, the overall outlook flashed optimistic sentiments as bulls kept their presence as VET retained upticks within the past 16 hours.

Bulls extended their lead today, translating to green candlesticks. Meanwhile, the price remained beneath the MA value of $0.052. Nevertheless, the price action maintains an upside stance but with oscillation actions, and a potential correction appears impending.

Moreover, high volatility confirms correction chances within the upcoming hours. Bollinger’s upper limit represents resistance at $0.055, whereas the bottom boundary acts as VET’s support at $0.043. The Relative Strength Index curve maintains gradual upswings.

Conclusion

According to the 1-day and 4hr price analysis, VET price climbs high again. The token followed an uptrend today as bullishness overwhelmed the markets. Meanwhile, the currency might see retracements as bulls dominated the space for the past 16hrs. However, maintaining the uptrends will see VeChain hitting $0.053.