VeChain has been started to trade with a positive bias over the past week. The ongoing upside momentum proves that the currency will end the week on a bullish note. The VET is in a hassle to gain stability above $0.0044.
Currently, the bears are frequently pulling the coin near $0.0043. It is to be seen whether the price remains above the key support level.
VeChain Eyes Recovery After 16% Surge Since May
VET bearish spree seems to have ended on May 12. The coin head traded below 0.0040 on the mentioned day. The support level was found around 0.0039. From there, the coin has carried out an exceptional price journey. The price of VeChain went up by more than 16% over the last couple of months, and now it is attempting to gain a bit of stability. Notably, an upside rally seems more likely to happen from here as Bitcoin to is trying to climb above $9500 right now.
Since the beginning of the ongoing month, VET bulls have been facing hurdles on the way of an upside breakout. From yesterday, VeChain crypto has marked a correction wave over more than a day. At present, the coin is approaching downside with a bearish approach. VET/USD is looking for a support level at around $0.00441 currently.
VeChain has just formed a bullish candle above the 200-day EMA line with a mild positive bias. Meanwhile, the MACD chart is still in the negative zone. However, as per the VET Price Prediction, the Vechain price continues to follow the same pattern. The price will rise in the upcoming months.
