VeChain(VET) Brookes Down The Level of 0.00300 Again Suffering Variation

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • VeChain is suffering a lot due to bearish momentum. Currently it’s trading below the level of  $0.00300, again testing this level.
  • The VET/BTC pair is also performing negatively and suffering the loss of -1.11% bringing the levels to 0.00000047.

There is a heavy loss in the prices of VET. Prices are trying their level best to climb up but facing heavy resistance in every step. Currently, prices are suffering heavy volatility at the level of 0.00300.

Today prices took heavy negative divergence and blow away the support level of  $0.00300, Even VET prices were able to climb above this support level and re-acquired it twice only to fall back again. There is a lack of support as prices are unable to maintain a gradual climb and stability against the odds.

If prices again broke their current support level of $0.00300, there will complete dominance of bears at the VET prices for a medium-term but it seems this level is giving a really hard to the VET.

Currently VET’ market capitalization is $164,981,624 USD with volume traded of $90,332,649 USD and  circulating supply of 55,454,734,800 VET.

VeChain Price Analysis

vechain
Source:tradingview

The VeChain price chart reflects that bearish momentum is dominating the stats. There is a continuous downfall in the prices which are still going on. Prices are unable to resist the current bearish momentum.

The technical indicators and oscillators are not in VET’s favor as they are showing an increase in the selling volume of a cryptocurrency.

The MACD level is on the verge to again booked by the bears, which is a good negative for the VeChain holders because this is a clear indication about upcoming complete bearish momentum.

The 24hr-RSI is about to enter the bearish zone as in no time it will break down the crucial mark of 50.

The 24hr CCI had a sharp negative divergence from the top of the normal region and now it is moving towards overselling region with a continuous downfall. 

Resistance Level: $ 0.003100
Support Level: $  0.00290

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