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VeChain Price Analysis: Bearish Pressure Over VET

  • The price of Vechain is increased today by 3.40% and is trading at $0.003250 against the United state dollar.
  • The 10- and 20-day moving averages have made a bullish cross.
  • Support areas are found at $0.003300 and $0.003280 and $0.003200.
  • Resistance areas are found at $0.003382 and $0.003400.

Current Value of VeChain (VET): The currency is currently trading at the value of $0.003325 and its value is decreasing by 3.92%. The market capitalization of the currency is $184,408,694 and the 24-hour volume of the currency is $22,921,132. The circulating supply of the currency is 55,454,734,800 VET and the ROI of the VeChain is -77.89%.

Yesterday, the value of the currency was trading at the value of $0.003437 at 06:19 UTC and the market capitalization of the currency $190,612,232. The 24-hour volume is $38,253,022 and it is clear that today the currency is under the bearish pressure. Yesterday the value of the currency is hovering between the range of $0.003400 to $0.003490, but it didn’t touch the value of $0.0035.

Technical Analysis of VET/USD: Vechain is currently trading with the bearish movement. The moving averages of 10-day, 20-day, 50-day are showing selling signal and RSI of the currency is at the value of 33, it is also showing the sell signal. Clearly, the bears have more power over the bulls here. The MACD is also in the red area and sells indicator is on.

The technical indicators are showing a strong sell signal on the chart. On the other hand, the currency has some bullish resistance around the value of $0.0034 but it is not making any moves towards that value. The main resistance levels for the pair of VET/USD are $0.003382 and $0.003400, further this values $0.0035 will act as strong resistance for VeChain. The main support levels for the pair are $0.003300 and $0.003280 and $0.003200. The currency is currently under strong bearish value. Only, if the currency will cross the value of $0.0034 then we can think of bullish rally.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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