VET Price Analysis: How High Will VeChain’s Historic Upgrade Take VET Price?

• VeChain (VET) is presently trading at $0.0190, down 1.75% in the last 24 hours
• The final phase of “Proof of Authority 2.0” (POA2.0), the integration of finality with VIP-220, went live at block height 13815000
• VeChain would be able to handle increasing demand thanks to its scalability

VeChain (VET) is presently trading at $0.0190, down 1.75% in the last 24 hours. The VeChain foundation has announced what it calls a new era as the final stage of PoA2.0 seamlessly hard forked from mainnet, adding Finality to VeChainThor. The final phase of “Proof of Authority 2.0,” the integration of finality with VIP-220, went live at block height 13815000, on Nov. 17, at 8:10 a.m. UTC. Likewise, the first finalized block has been produced on the Vechain mainnet, marking a historic milestone for the blockchain. With the game-changing upgrade, VeChain would now be able to provide the perfect platform for sustainability, both in energy consumption and real-world change, the team stated. In addition, VeChain would be able to handle increasing demand thanks to its scalability.

Key Levels
Resistance Levels: $0.0260, $0.0230, $0.0210
Support Levels: $0.0190, $0.0178, $0.0150

VET/USD Daily Chart: Ranging

VET/USD Daily Chart

VET/USD is currently trading at $0.0194, and the upward movement may be limited to $0.0230 near the horizontal resistance line. VET attempted to regain momentum after hitting a low of $0.0178. However, the psychological $0.0230, supported by the daily moving average (MA 50), may hinder all attempts at recovery.

Investors are eagerly awaiting a VET/USD trip to $0.0260 in the coming weeks; a higher sustainable change may improve the technical background. The following barriers are $0.0230 and $0.0243. (the June 4 high). On the downside, the horizontal support level of $0.0190, which is slightly broken, is creating critical support, which is likely to limit the price movement.

VET/USD 4-Hour Chart: Ranging

VET/USD 4-Hour Chart

On the 4-hour time frame, VET/USD is holding steady in a sideways channel pattern as bulls try to make a comeback after a bearish cross between MA 50 and MA 200. Over the course of a day, VET/USD increased modestly from $0.0191 to $0.0197. According to the RSI, the VET/USD market is currently in a neutral mood.

Earlier VET bulls took control and surged past the psychological mark of $0.0200 to retreat lower, VET/USD bounced from its low point of $0.0178 on November 14 to a high point of $0.0209 on November 16. Although the pair has remained in a range after days of consolidation, showing waning bearish market momentum as sideways trade becomes apparent.

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