There have been no major uniform gains across the cryptocurrency market. However, this has not deterred some coins from making major gains pushing them to new highs. One of the best performers in the crypto charts during the past 24 hours is VeChain.
VeChain is trading at $0.159 at the time of writing after an 8.2% gain in 24 hours.
VeChain price analysis
VeChain is currently trading at monthly highs following the major uptrend experienced during the past 24 hours.
Before the 24-hour rally, the coin was trading at the level of around $0.144. It made major gains to reach highs of $0.163 before slumping a bit to the current levels. Most of these gains have mainly been attributed to buyer support because the broader market shows signs of consolidation.
If these gains continue, we could see VeChain testing $0.16 again. This will allow the coin to set the next targets at $0.165 and $0.17. Such gains could also happen if the broader market kicks in. Combining the broader market support and buyer support will allow VeChain to test the highs of above $0.20.
On the other hand, there is also a chance that the rest of the market could fail to rally, and buyer support will be exhausted. This will push VeChain towards the lower levels of $0.14.
The gains made by VET are attributed to developments in the VeChain ecosystem. The platform is launching a decentralized exchange (DEX) and automated market maker (AMM) known as VEX. This will also come with a governance token dubbed VEX.
Where to buy VET
To buy VET during the current bullish rally, one can open a cryptocurrency exchange account on the following exchanges:
eToro is among the leading exchange platforms. The exchange supports a wide range of cryptocurrencies and trading pairs. It also comes with support for user-friendly features such as copy trading and low trading fees.
You can also buy VET from Binance. Binance is the largest exchange, and it supports a broad range of digital assets. Binance also offers some of the lowest trading fees in the market.
Your capital is at risk.