Home
News
- VET Coin finally projects positive retracement after an enormous fall from $0.03505
- VET coin price today is $0.03098; with a loss of 1.18% in the last 24 hours and 10.06% down from last week
- The VET/BTC pair performs negative with an overall loss of 3.8%, gravitating the present level to 0.0000009291 BTC
After making an 52 week high of $0.03505 on January 20, 2021, the Coin Price projects a retracement. The VET/BTC pair is currently trading below the resistance of 0.000000935 and marked bearish momentum with a down in value of 3.8%.It is now heading to next support zone .
Vechain Technical Analysis
The weekly technical chart of VET highlights the ‘Bulls on Hunt’ in today’s trading session. The VET coin current Price is $0.03090; with a resistance of $0.03505, and support of $0.0262. The price is above 50 days Exponential Moving Average (EMA). The 50-EMA red line at $0.02356 making a temporary support. As VET coin price has made a bullish engulfing pattern in the last trading session, a further upward correction can be anticipated. The volume of VET has seen a loss of 2.49% and the market capitalization down by 1.71%.
MACD (Bearish): The levels showcase a positive crossover signal in the previous trading session. The MACD indicator reflects bullish momentum in coin; which made VET coin price surge.Though, a slight correction in the coin price can be anticipated because the signal and average line started tangling.
RSI (Bullish ): It is trading with a value of 57.56; indicates that the coin is bullish. An upward slope observed in the RSI Index showcasing VET coin price may go up in the next few trading days.
CONCLUSION
VET showcases a bullish momentum and reached 52 week high on 20 Jan 2021. Furthermore, VET/BTC pair is in a consolidation zone and can start the bearish momentum soon .Investors should be careful while investing as it can retrace back to its lower levels.
TECHNICAL Levels:
Major Support:$0.03505
Major Resistance:$0.02602
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
