VeChain Technical Analysis: VET/USD up another 10% after a massive bull rally
|- VeChain is one of the few coins that has hit a new 2020-high.
- VET/USD is in a strong daily uptrend since May 22.
Vechain is trading around $0.01 at the time of writing after yet another bull break today on June 11. The digital asset has been trading inside a robust daily uptrend for almost one month now and is seeing a significant increase in trading volume.
VET/USD daily chart
The daily RSI is extremely overextended and indicates that some consolidation is needed. The last time the RSI was this extended was on June 2. VET consolidated for the next three days and managed to create another leg up on the fourth day. The price is way above any of the daily EMAs and the MACD is extremely bullish as well.
Vechain is enjoying a surge in trading volume since September 2019 when the digital asset only had around $31 million per day. VET’s trading volume today is an all-time high at $439 million blowing out of the water the last high at $242 million.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.