- Polkadot rallies nearly 20% to trade at $42 ahead of another upswing to all-time highs around $50.
- VeChain eyes $1.5, but first, the 200-day SMA barrier must come out the way.
The cryptocurrency market endured a healthy pullback mid-week, whereby Bitcoin retested support at $58,000. Investors did not waver but seem to have embraced the correction by taking more positions in the preferred digital assets. Bitcoin recovered, settling above $58,000 while Ethereum has lifted from $3,400 to beyond $3,600 at writing.
Some selected cryptocurrencies are trading higher with double-digit gains. Polkadot is up nearly 20% and exchanging at $42. Similarly, VeChain has accrued 10% in gains, brushing shoulders with $0.12. Most of the crypto assets are in green amidst the push to end the week in style.
Polkadot:-
Polkadot is teetering at $42 after a massive breakout from levels close to $30 earlier in the week. The smart contracts token managed to flip a stubborn supply zone at $38 into support, a move that was a breath of fresh air to the uptrend.
DOT’s short-term technical picture is strongly bullish based on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). The former crossed above the mean line in addition to sustained buy signal while the latter is on the brink of entering the overbought region.
Higher support is required, preferably above $40. With the downside well-defended, bulls will comfortably focus on closing the gap to $50.
DOT/USD Daily Chart

VeChain:-
VET is on the verge of a colossal breakout at this juncture, which comes after the token secured support at $0.1 earlier this week. The presence of a 100-day SMA strengthened the buyer congestion zone.
At the time of writing, VeChain has lifted to $0.12. Buyers are focused on gaining more ground, with $0.15 coming into sight. The 200-day SMA caps the immediate upside and must come down to allow bulls to achieve the near-term goals.
VET/USD Daily Chart

The uptrend appears to be in proper shape now that a buy signal comes into the picture as the MACD’s 12-day EMA crossed above the 26-day EMA. According to the RSI, buyers have the upper hand.
The post Polkadot, VeChain Price Analysis: October 14, 2021 appeared first on Coingape.
Source: Coingape
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks