<strong><em>VET prices showcase a bullish reversal from the $0.026 mark to form an ascending triangle. Will buyers shatter the ceiling resistance at $0.033?</em></strong>

Key technical points:
<ul>
 	<li>The market prices show a bullish recovery of 8.72% over the past 24 hours.</li>
 	<li>The ascending triangle provides a bullish breakout entry opportunity.</li>
 	<li>The 24-hour trading volume of Vechain is $186.97 Million, indicating a hike of 37.54%.</li>
</ul>
<h2>Past Performance of VET</h2>
With the sell-off driving the <a href="https://www.cryptoknowmics.com/news/vet-technical-analysis-the-probability-of-the-fall-continuation-to-0-02-is-high/">VET</a> market value by 60% in April and May resulting in a sharp fall to the $0.026 from the heights of $0.085 in the daily chart. The downfall cracks under all the crucial EMAs and finally shows a recovery rally coming into action. As the recovery rally forms a higher low formation an ascending triangle takes shape with the help of a new support trendline in place.

<img src="https://s3.tradingview.com/snapshots/6/6UfRzAHZ.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/6UfRzAHZ/" target="_blank" rel="noopener">Tradingview</a>
<h2>VET Technical Analysis</h2>
The VET price grows by 25% in the last four months within the ascending triangle pattern and teases the bullish breakout possibility with a new bullish engulfing candlestick. Moreover, the growing buying pressure evident by the surge in trading volume support the price jump increases the breakout possibility. The three crucial daily EMAs 50, 100, and 200-days remain in a bearish trend after the downfall and take a roke of providing resistance.  However, the MACD and signal lines display an uptrend after avoiding bearish crossover possibilities with the bullish momentum growing in the MACD histograms.

Additionally, the RSI indicator displays a spike in the sideways trend within the nearly oversold zone preparing for a launch above the halfway line. Therefore, the technical indicators display growth in buying pressure. In short, VET technical analysis highlights the possibility of an ascending triangle breakout.
<h2>Upcoming Trend</h2>
If the buying pressure continues to grow overnight, the VET price will surpass the ceiling resistance at $0.033 resulting in a bullish rally to the next resistance at $0.040. However, the fallout of the support trendline will lead to a price fall to $0.026.

<strong>Resistance Levels:</strong> $0.033 and $0.040

<strong>Support Levels:</strong> $0.026 and $0.020

VET Technical Analysis: New Support Trendline Teases $0.033 Breakout 

VET Technical Analysis shows a bullish reversal from the $0.026 mark to form an ascending triangle. Will buyers shatter the ceiling resistance at $0.033?

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: New Support Trendline Teases $0.033 Breakout

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