VeChain (VET) cryptocurrency could be on the verge of a bullish breakout. A recent 4.63% price increase over the past 24 hours is attracting investors' attention.
Current VeChain price movements
VeChain's price continues to rise after breaking through a descending wedge pattern it was in for the past four months. The growth is supported by rising RSI and MACD indicators.
Trading activity in spot and derivatives markets
In recent months, VET's spot flows have been weak. However, the interest in the derivatives segment has grown, with open interest around $53.90 million after a 13.33% increase.
Shift towards order accumulation
VET's order book shows a rise in buy orders. This indicates potential increased interest in the cryptocurrency despite certain weaknesses in previous periods.
VeChain shows potential for growth, but current interest is insufficient for an explosive breakout. Further growth is possible with the attraction of significant liquidity.
