The crypto market has been on a significant rebound in the past 24 hours. Bitcoin is again retesting the resistance at $50K, while ethereum has made new monthly highs of $3700. This upswing has led to a sudden comeback from the broader market, and altcoins are now making new monthly highs.
VeChain is trading at $0.137 at the time of writing after a 10.9% gain in 24 hours.
VeChain Price Analysis
VeChain has been on a significant upswing in the past 24 hours, enabling the coin to make new monthly highs. Currently, support from the broader market is high, enabling VET to clinch new highs.
If the uptrend continues, we could see VET headed towards the next resistance of $0.138. If it breaks past this level when the bullish sentiment holds, we could see VET retesting other support levels of $0.14. Even with the broader market support, buyers still need to rally their support for the coin to ensure it can break to even higher levels.
On the other hand, this month’s bullish sentiment has been severally disrupted, which means that it could happen again. If there is a price dip in VET’s prices, we could see the lower support of $0.134 being retested again. If stronger market bears are created, we could see VET retest lower levels of $012, attracting traders who will buy during the dip.
Activity on the VeChain blockchain has also been high over the past week, which has fuelled discussions surrounding the token. The VeChain blockchain has been committed to reducing the carbon footprint, and recently, it launched a new service to allow businesses to report on carbon footprint data. This new service combines both decentralized ledger technology and software-as-a-service (SaaS).
Where to Buy VeChain
If you want to buy VeChain, you can open a cryptocurrency exchange account on the following platforms:
eToro is one of the most reputable cryptocurrency exchange platforms. It has a copy trading feature where new traders can copy the trading strategies of expert traders. eToro also charges low trading fees and commissions.
You can also buy VET from KuCoin. KuCoin is also another popular exchange platform that supports a wide portfolio of cryptocurrencies and trading pairs. Like eToro, KuCoin also offers copy trading to new traders and charges competitive trading fees and commissions.
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