Cardano (ADA), VeChain (VET) Show Bullish Performance. New ATH Soon?

Cardano-VeChain-Bullish-Performance
  • Cardano (ADA) and VeChain (VET) are showing bullish signs.
  • Current ADA price is $1.59.
  • Current VET price is $0.21.

Bitcoin continues to lose its market dominance, a clear sign that many altcoins are upping the ante. Among these are two popular altcoins such as Cardano (ADA) and VeChain (VET). With ADA price and VET price starting to show bullish signals, will they reach new all-time highs (ATH) soon? Let’s find out.

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ADA/USDT 4-hour chart (source: TradingView)

In our four-hour chart, we can see that ADA is on an uptrend. After consolidating in the $1.30 price level, ADA price has convincingly risen to the $1.60 psychological resistance. In fact, it has already convinced the bears to give up the $1.60 territory to make way for the bulls. In short, ADA price has flipped the said resistance level into support.

Recent trading prices are also considerably above the 30-day Exponential Moving Average (EMA) and 50-day Simple Moving Average (SMA). At the time of writing, ADA price is $1.59, according to CoinGecko. Its current ATH is $1.74.

VET/USDT 4-hour chart (source: TradingView)

VeChain (VET) is also one of the most promising altcoins today. It is currently ranked 14th on CoinMarketCap, with a price of $0.2131 at the time of writing.

As seen on the chart above, VET recently saw a price consolidation. However, it turns out the bulls were just gathering strength for their rally. We can see that VET price is having an uptrend as well. If VET continues in its positive trend, we may see it challenge the $0.25 psychological resistance very soon.

If this happens, and VET succeeds at flipping the said resistance into support, we may see it exceed its current ATH at $0.28.

Disclaimer: The technical analysis expressed in this article does not necessarily reflect the views of CryptoNewsLand (CNL). Readers of this article should not take this as financial advice. CNL strongly recommends that all users do their own in-depth research before investing in cryptocurrency.

Crypto News Land (cryptonewsland.com)

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