Flight of VeChain: vertical growth in 24 hours - our technical analysis

VeChain VET is also back in the news, by virtue of a bull run over 24 hours that surpasses even those, albeit important, of Bitcoin and Ethereum. A comeback, with the token firmly back above $0.08.

A rebound due, after the latest suffering of the project, suffering that would now seem to be behind us. For a project that is among the most commercially stable – and which has once again demonstrated that it has the full confidence of investors.

Vechain +20% - ragioni e futuri movimenti nell'analisi di Criptovaluta.it Vechain’s performance is excellent: we explain the reasons and analyze the short term future

We can find VeChain on the Capital.com platform (here for the virtual demo account always free and unlimited), an intermediary that has always been attentive also to the main altcoins

, with an offer of 235+ crypto that accompanies an exclusive artificial intelligence service for analysis, in addition to platforms such as MetaTrader 4 and TradingView, in addition to the signals service Trading Central.

VeChain’s rebound, to put the woes behind

it

VeChain is one of the projects working more in the background, despite having by now an impressive commercial spread even among the big corporations of the global industry, from the automotive sector to the emission abatement sector, passing through the periodic verification of several parameters, even in the production phase and thanks to the integration of the protocol’s proprietary sensors. However, there is nothing sufficiently new in the progression of the project to justify a gain of almost 20% over 24 hours. A gain that, even from a general growth perspective for the cryptocurrency world, would seem to be relatively unjustified.

Bitcoin jumped above $38,000

, pushing the entire sector to recover the significant losses of recent weeks, albeit obviously to a partial extent. A good sign for a summer that many were predicting as one of suffering, even for solid projects like VET.

Technical analysis on 24 for VET

It is very difficult to analyze the market with moving averages and indicators when we are leaving behind such an important movement in just 24 hours. Volumes continue to be very high, a sign that we still have a highly volatile market that could change direction at any moment.

A quick look at what technical analysis offers us, however, can always be useful, at least to understand on what basis professional traders will reason for the next 24 hours. Because if it is true that

and this kind of analysis can not always be accurate, they still give us a starting picture identical to that of the professionals

.

MOBILE MEDIA 10 20 100 200
SIMPLE BUY 🟢 BUY 🟢 SELL SELL
EXPONENTIAL BUY 🟢 BUY 🟢 SELL SELL

Moving averages on VeChain at 24 hours

Situation similar regarding moving averages to that of all other cryptocurrencies that have acquired important values in the last 24 hours. The sudden jump in price has reversed the signal of the moving averages on the lower coefficients, while the others still suffer from the price levels of the time that was

.

INDICATORS SIGNAL
RSI BUY 🟢
CCI BUY 🟢
ADX BUY 🟢
MACD SELL
STOCH BUY 🟢

Indicators of the technical analysis at 24 hours on VET

Different indicators, but also here very similar to what we have already seen in the analysis of other cryptocurrencies. Strong buy

signals, indicating that the bull run might only be at the beginning. For the next few hours, and this is the most important signal, there could still be significant volatility.

In the absence of news, it is the rebound of those who have suffered the most

A key that seems to be, this, valid and useful for the entire cryptocurrency sector today. Growing with greater conviction were precisely those cryptocurrencies that suffered most from the long series of corrections that led the sector to be worth less than half of its mid-May peak.

VeChain, despite very solid fundamentals, was one of them. And now, taking advantage of Bitcoin’s traction, it is aiming for a significant rally, a sign that the asset was actually significantly underpriced compared to its actual value. This is something we have also emphasized in our VeChain forecasts, which for this protocol see far greater price opportunities.