VeChain’s first week of 2020 has gone moderately bullish. Over the last seven days, it has been strengthened by 5.64% that has taken the VET price to $0.00552671. The bullish trend is likely to stay here for some more days until the currency breached its first resistance.
VeChain Price Analysis
VET coin started the year at $0.00523144. Its first major price swing happened between January 01 & 03. Over these two days, the price shrunk by 9.59%, whereas most other coins fared the initial two days of the year bullishly. VeChain price started strengthening from January 03, and by yesterday, it pushed the value to $0.00583774. The last variation forced VET price to trade downwards and this swing cost it $0.00038.
VeChain’s current price ($0.00552671) is trading above its 20 days MA ($0.00552339). However, its 50 days MA ($0.00554562) is well above the current price of VET coin. As per our prediction, the currency is likely to continue the moderate movement for the next few days. However, no abrupt change is anticipated. It may continue the volatility up to a certain extent. The next resistance seems likely at $0.005736 in the upcoming week.