VeChain (VET) buyers have had fairly an eventful begin to 2022. After the coin tumbled and misplaced a lot worth, VET rebounded. The token has up to now managed to recuperate virtually all of the losses made this yr. However the place will the worth go after these? We’ll analyze this additional, however listed below are a few of these newest developments:
Regardless of a good rally within the final week of March, VET has now began to retreat
The coin has misplaced about 13% during the last 24 hours alone
Nevertheless, indicators are nonetheless optimistic, and we might even see extra bull runs within the close to time period.
Knowledge Supply: Tradingview
VeChain (VET) – Can it hit $0.1?
Attending to the $0.1 mark will likely be a brand new 2022 excessive for VET. The truth is, the final time the coin managed to clear above $0.1 was in October final yr. Though this will likely appear farfetched at face worth, VET is definitely not that far-off from $0.1. The coin will solely want so as to add 40% to its worth to hit that milestone.
However what comes after $0.1 is probably the most attention-grabbing factor. The truth is, by the point VET is hitting $0.1, it would have already smashed previous a number of essential resistance zones and established a bullish rally that might result in large beneficial properties.
Moreover, the short-term outlook for the coin stays bullish as nicely. RSI for instance is now optimistic, and VET is above its 20- and 50-day SMA as nicely.
Is it the suitable time to purchase veChain (VET)?
For long-term investments, it is all the time an excellent time to purchase VET. This is without doubt one of the most enjoyable tasks in crypto and continues to draw numerous high-profile buyers.
Additionally, from a short-term buying and selling perspective, VET can also be bullish. It’s subsequently an excellent purchase particularly when you think about the 40% upswing in the direction of $0.1.