<em><strong>The VET price action exceeds the $0.026 resistance level teasing a price jump to the next horizontal level at the $0.035 mark.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The VET prices jumped by 11.54% in the last 24 hours.</li>
 	<li>The recent bull trend accounts for a price jump of 30% last week.</li>
 	<li>The 24-hour trading volume of Vechain is $145 Million, indicating a rise of 13.60%.</li>
</ul>
<h3>Past Performance of VET</h3>
As mentioned in our <a href="https://www.cryptoknowmics.com/news/vet-technical-analysis-retest-reversal-soon-to-challenge-50-day-sma" target="_blank" rel="noopener">previous article</a>, the VET prices break above the 50-day SMA and maintain the breakout rally momentum. The rally exceeds the $0.025 resistance level resulting in the bullish breakout of the consolidation range with a growth of 30% last week. Additionally, the intraday trading volume spikes positively, supporting the bullish breakout rally.

<img src="https://s3.tradingview.com/snapshots/7/7fIryyAw.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/7fIryyAw/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>VET Technical Analysis</h2>
VET price action shows an uptrend continuation above the $0.026 mark with an increase in buying pressure. Moreover, the price sustaining above the 50-day SMA teases a jump to the 100-day SMA.

The RSI indicator displays a steady uptrend from the oversold region and surpasses the halfway line by taking support at the 14-day SMA. Therefore, the indicator assures a bullish trend continuation.

Furthermore, the MACD indicator displays both the slow and fast lines sustaining an upward trend above the zero line, while bullish histograms come back. Additionally, the growing spread between the lines indicates that the uptrend is likely to continue. Thus, technical indicators can maintain an optimistic outlook for the coming trend.

In a nutshell, the VET technical analysis shows positive signs of support for the current trend and raises the possibility of prices reaching the $0.035 mark.
<h2>Upcoming Trend</h2>
The expected trend of VET prices has positive vibes, indicating the possibility of price gaining more to hit at least the 100-day SMA at $0.035.

However, the failure of bulls to break above the $0.030 mark will lead to falling to the lowest support level near about the $0.025 mark.

Resistance Levels: $0.030 and $0.035

Support Levels: $0.026 and $0.020

VET Technical Analysis: Will Range Breakout Reach The $0.035 Mark?

VET technical analysis shows that its price action exceeds the $0.026 resistance level teasing a price jump to the next horizontal level at the $0.035 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

VET Technical Analysis: Will Range Breakout Reach The $0.035 Mark?

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