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Short-covering

VET price may move higher in 2022, but for how long?The Vechain coin price appears to be in the bullish territory after interrupting the descending trendline. The VET coin is overdriving above the 20 and 50-day moving averages in terms of the daily price chart. The SuperTrend indicator is remaining to generate the bullish crossover. The daily price chart of the VET coin is trading above the 20 and 50-day moving averages, and the remaining 100 or 200-EMAs are above the current price. The RSI is moving towards the overbought territory and now it is at 59-mark in terms of the daily price chart. Furthermore, the ADX indicator is gradually falling downwards, suggesting weak bullish momentum for the Vecahin coin. VeChain Coin has reversed its downtrend after breaking the descending triangle pattern. The bulls should continue to manage the VET price above the $0.050 level to prevent further panic selling. Resistance level- $0.0.069 and $0.10 Support level- $0.050 and $0.039
Long
by TheCoinRepublic