VeChain aims to be the platform of the future, offering a wide variety of solutions for companies to utilize. Their solutions include a blockchain-based digital identity system, supply-chain management, and a distributed ledger for business transactions. Prices of VET have been on a steady incline since late January.
VeChain was down 2.99% over the past 24 hours and is trading at $0.1106, which is a major drop from last weeks high of $0.1136. It is currently trading at $0.1106, which is a major drop from last weeks high of $0.1136. It is currently trading at $0.1106, which is a major drop from last weeks high of $0.1136. Looking at the underlying technical indicators, the VeChain/USD pair is currently trading in a short-term bearish trend. The RSI is peaking down at 48.30. …
VeChain Price Analysis: VET fails to break $0.11, a retracement to follow before another attempt?. Read more about vechain news and let us know what you think.
TL;DR Summary
- Yesterday, VET moved away from the $0.09 support.
- Overnight, the $0.10 mark was broken.
- Below the $0.11 barrier, VET/USD encounters resistance.
The VeChain price analysis is negative for the weekend, as a solid higher high was established just below $0.11 after a fast surge upward over the past 24 hours. As a result, we anticipate VET/USD to reverse later today and retest prior resistance as support around $0.09.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the crypto market has been trading with a strong positive trend. Bitcoin has increased by 4.23 percent, while Ethereum has increased by more than 10%. Meanwhile, with a rise of 19 percent, Dogecoin is one among the top performers.
The price of VeChain has risen to $0.11 in the past 24 hours.
Over the past 24 hours, VET/USD has moved in a range of $0.09407 to $0.1089, suggesting high volatility. The overall trading volume has risen by 73.8 billion dollars to $1.17 billion. In the meanwhile, the overall market capitalization is approximately $6.7 billion, putting it in 22nd position.
VET/USD 4-hour chart: Is the VET poised for a retracement?
On the 4-hour chart, the VeChain price has been rejecting additional higher in recent hours, indicating a reversal later today.
4-hour chart of the VET/USD currency pair. TradingView is the source of this information.
This week, the price of VeChain continues to rise. VET/USD has risen by more than 90% to the $0.11 barrier from the previous swing low at $0.056. However, the $0.11 level was not broken, and there was some rejection for additional upward in the last few hours.
Furthermore, VET/USD has risen by approximately 18% in the past 24 hours, indicating that the market is now stretched. As a result, a retracement is required before additional gains may be made.
The $0.09 prior significant resistance level may be a possible objective for VET to find support. We should expect additional rise next week as the VeChain price hits a higher bottom, since the general market trend is now extremely positive.
Conclusion of the VeChain Price Analysis
As a result of a quick rise to $0.11 earlier today, VeChain price research predicts negative momentum for the next 24 hours. From there, VET/USD began to exhibit indications of weakness, indicating that a pullback to $0.09 is likely.
Read our articles about investing in PayPal Bitcoin, Bitcoin trusts, and Dogecoin as a smart investment while you wait for VeChain to go forward.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
VeChain is still in the midst of a bear market, and has fallen 28% from its high of $0.51 in November. That means that VET has lost almost a third of its value since it reached $1.00 in October. As some traders are already selling off VET, it is likely that the next attempt to break the $0.40 level will be met with a strong sell-off.. Read more about vechain price prediction $75 and let us know what you think.
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