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VeChain Price Analysis: VeChain Price Spike twice before continuing its bearish moves

The price trend of VeChain seems to be little off trend. The coin fails to come out of the strong bearish influence as it trades in a very slight range of about $0.007. Recently, an update has appeared that reveals that VeChain will be redeemed by the parent company. The price trend may get improve with the news.

On 8th July 2019, at 11:45:25 UTC, VeChain traded at $0.0074 while holding a market capitalization of $420,008,877. The Crypto coin possesses 55,454,734,800 VETs as a circulating supply. VeChain earns Return of Investment of -49.64%.

The price chart of VET shows a lot of instability in its price trend, although at the end of the day the price did not show much change in it. The coin had its opening price yesterday at $0.00745 and rose to $0.00772, followed by a draw to $0.00747.

VET rose again to $0.0771 and then adjusted to $0.00740. On the other hand, VET is 15.62% higher than the 10-day SMA of $0.0064. MACD for the price trend for 1 day of VeChain seems too unstable and has its MACD line above the signal line, which shows a stable bullish character. RSI for VeChain shows close to 50 showing no limbs.

A lot of resistance can be seen by the coin at $0.0075 and $0.0076 and support levels can be seen at 0.0073 and $0.0072.

About Anushree Goswami

Anushree Goswami is a Content Writer and has interest in Blockchain Technology. She has been working in the field of content writing for more than 2 years and is passionate to know and learn about new technologies.

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