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- 1 VeChain price prediction is a declining streak of VET crypto over the daily time frame chart.
- 2 VET crypto has slipped below 20, 50, 100 and 200-days daily moving averages.
- 3 VeChain crypto price has been slipping from the last few trading sessions.
VeChain price prediction showcases the fall of VET crypto from the higher level over the daily time frame chart. VET crypto is trying to reverse the declining trend by gathering support at the current level. The trading volume is tepid; and sellers may try to short the market for VET cryptocurrency during the day’s trading session.
VeChain price was at $0.01796400 and has gained 0.14% of its market capitalization during the day’s trading session. However, trading volume decreased by 2.23% during the intraday trading session. This demonstrates that sellerts are still present in the trade to pull VET crypto downwards. Volume to market cap ratio was 2.22%.
Will VeChain Price Rebound From Here?
VeChain price prediction highlights the sustainability issues of VET crypto at the lower level over the daily time frame chart. Meanwhile, volume change was below average. VET crypto needs to attract more buyers in order to initiate its recovery phase. However, VET crypto has slipped below 20, 50, 100 and 200-days daily moving averages.
VeChain price lost 2.81% in a week and 9.58% in a month. Moreover, VET crypto declined by around 15.15% in the last three months and 27.77% in the last six months. Nevertheless, VET crypto gained 13.83% year to date suggesting VET crypto could be entering a recovery phase in 2023.
Technical indicators suggest the sustainability issues of VET cryptocuerrency. The relative strength index and moving average convergence divergence suggest the decline in momentum of VET crypto price.
RSI was at 40 and is trying to move back towards neutrality. The MACD line is below the signal line after a negative crossover. Investors in VeChain cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
According to the VeChain price prediction on the daily time frame chart, VET cryptocurrency experienced a decline from the higher levels. However, there are indications of a potential trend reversal as the price bounces back from the lower levels. It’s important to note that the volume change was below average and needs to increase during intraday trading sessions. Despite this, VET crypto has managed to gain 13.83% year to date. Nevertheless, technical indicators raise concerns about the sustainability of VET cryptocurrency. Investors should exercise patience and wait for any directional change on the daily time frame chart.
Technical Levels
Support Levels: $0.01772039 and $0.017089
Resistance Levels: $0.01904757 and $0.02137268
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
