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- 1 The VET coin price signifies range-bound moves and stays near the 100-day EMA mark.
- 2 Technical indicators are suggesting a significant upside above $0.6000 ahead.
The VET coin price showcased pump-and-dump activity and stayed in a narrow range, highlighting the range-bound moves. Moreover, the coin has sustained gains above the midline region and awaits a rebound. Furthermore, the trend favors the upside, and a short covering move may soon glimpse a pullback. The coin may outperform if it crosses the range hurdle of $0.5500.
At press time, the VeChain coin (VET) price traded at $0.03982 with an intraday drop of 13.89%, reflecting neutrality on the charts. It has a monthly return ratio of -14.89% and 55.78% on a yearly basis. The pair of VET/BTC is at 0.000000628 BTC, and the market cap is $2.93 Billion. Analysts are neutral and suggest that the VET coin may attain momentum and will shortly escape the upside region of $0.6000.
VET Price Volume Profile On Daily Charts
Per the Santiment chart, the VET price is trading around its neckline support region of $0.04000 and is glimpsing a neutral outlook. Amidst the market reversal, the VET coin has handled the gains decisively and has remained close to the 100-day EMA mark, witnessing bull accumulation on the charts.
Price Volatility and Weighted Sentiment Overview
Amidst the range-bound movements, the price volatility curve noted an up move and stayed close to the midline region around 0.07, delivering notable spikes this week. Likewise, the weighted sentiment looks neutral and is noted around -0.084, delivering a neutral outlook.
Social Dominance and Twitter Followers Insights
The Social Dominance noted a decline over 11.90% to 0.302%, replicating a decrease in the discussion reports on media platforms this week. Similarly, the Twitter followers data noted a follow-on decline and dragged over 245% to 225 mark.
Development Activity and Contributors Count Outlook
Per the charts, the development data witnessed roller coaster movement and stayed above the midline around 6.98, glimpsing a positive outlook. Furthermore, the contributors count also looks positive and is noted around 3.
Per the Fib levels, the VET price hovers between the 23.6% – 38.2%% zone and delivers a neutral outlook. However, the RSI curve stayed below the midline, and a negative crossover was noted on the charts.
The total supply of the VET coin is 85.99 Billion, whereas the volume-to-market cap ratio is 0.0871, and it ranked 37 in terms of market cap in the global crypto market.
Summary
The VeChain coin (VET) price witnesses range-bound moves and is hovering around its neckline support region of $0.04000. Additionally, the trend is positive, and the Bulls are attempting to attain momentum and are eyeing to cross the upside of $0.06000 soon.
Technical Levels
Support Levels: $0.03800 and $0.03600
Resistance Levels: $0.04200 and $0.04500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
