Vechain Price Analysis: VET observed reaching new Bearish levels

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

  • The price of Vechain declined by -1.18% today and is trading at $0.003422 against the United state dollar.
  • The RSI index indicated a Neutral signal and the MACD showing the bearish trend.
  • Support areas are found at $0.003481, $0.003251 and $0.003221.
  • Resistance areas are found at $0.003528, $0.003557 and  $0.003616.

VeChain referred to as the empowering agent to develop in the environment of Blockchain that aides in structure the genuine incentive to the genuine business. The equivalent was directed by the Co-Founder and CEO of VeChain, Sunny Lu, in the Shanghai International Blockchain Week 2019. Clients may observe the equivalent in the system as well.

The resistance levels for VET were observed at three levels, R3 marked at $0.003616, R2 at $0.003557 and R1 at $0.003528. The support levels are observed at S1 marked at $0.00344, S2 at $0.003381 and S3 at $0.003352.

VET is now trading at $0.003431 USD (-0.22%) and 0.00000042 BTC worth in Bitcoins (0.14%). It has a market cap of $190,266,599 USD and valued at 23,053 BTC in Bitcoins. The 24-hour Trading volume is estimated at $22,818,188 USD, and 2,765 BTC in Bitcoins. VET has a circulating supply of 55,454,734,800 VET and a total supply of 86,712,634,466 VET. VET has a globally designated rank of #34. VeChain has an ROI (Return on Investment) of -77.19%. VET hit an all-time high of $0.019775 USD on 4th of September,2018. Also, it reached an all-time low of $0.003133 USD on the 26th of September, 2019.

Recently, the estimation of VET was at first exchanging underneath the standard at $0.0035 at 00:02 UTC. From that point, the worth dropped by 3.96% at 06:32 UTC with an exchanging estimation of $0.003362. The worth heightened by 4.5% at 23:51 UTC, which took the cost at $0.003516, the most noteworthy pinnacle of yesterday. After that point, the estimation of VeChain dropped by 3.63% starting at now.

In view of the most recent 30 days valuation development, VET is inclining in the solid bearish zone. Considering the transient development in the valuation, it appears that the worth may take a ruin in a coming couple of weeks. The long haul anticipation is by all accounts dipping under the benchmark as well. Be that as it may, the intraday merchants will have the option to get hard. Along these lines, speculators may need to hold up with persistence until the VET shocks every one of us with better accelerations.

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