VeChain’s value rose rapidly after the coin was listed on Coinbase, one of the largest exchanges in the world. The rise was more than 17% compared to the low reached on Monday. During this acceleration, the currency managed to overcome the significant resistance level of $0.0116 (of August 29), turning it into
support.
VeChain moved above the 25-50-day moving average, while the MACD crossed the neutral point.
In addition, the price remains above the Ichimoku cloud
.
However, I assume that in the coming days the value of VeChain may undergo a correction, as the bullish momentum subsides. In that case, the coin will likely retest support at 0.01680 dollars. An alternative option could be a further rise in price, with buyers targeting the resistance at 0.018 dollars (the maximum reached
on August 14).
In light of these considerations, I recommend a careful assessment of the market situation and trends before making any investment decisions.
