VeChain price prediction – is it time for a 20% increase?

The VeChain course was not spared from the crypto crash. So far, some cryptocurrencies, such as Polkadot , have been able to show bullish signs. But what about the VeChain course? Could we also increase here by about 20% in the near future or will it go down even lower for now? We'll enlighten you today!

VeChain course with bullish weekly candle

The VeChain price has broken out of the sideways phase between $0.07 and $0.15. The price was then able to reach a low point of around $0.044. After the crypto crash was over, it continued with a doji candle. This candle usually indicates a trend reversal. Since the current weekly candle also started bullish, we expect an increase this week and next. The increase might last until the new $0.07 resistance. This would confirm the breakout from the sideways phase, which is why the VeChain course could become even more bearish. If the price breaks the resistance, we would turn bullish again.

In the daily chart, the VeChain course looks just as bullish. The RSI indicator is in the oversold territory, which could indicate a rise in the near future. The MACD is also bullish. This has been making a bullish crossing for the past few days. This crossing often led to climbs in the past.

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