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VeChain Price Analysis: Who will Take over the currency Bulls or Bears?

  • The price of Vechain increases by 3.19% and is trading at $0.003502 against the United state dollar.
  • The RSI index indicated a Neutral signal and the MACD showing the bearish trend.
  • Support areas are found at $0.003481, $0.003251 and $0.003221.
  • Resistance areas are found at $0.003580, $0.003742 and $0.0038.

Current Status of VeChain Price: The currency is currently trading at the value of $0.003521 and the currency’s value is increasing by 6.49%. The market capitalization of the currency is $195,247,778 and the 24-hour volume is $22,404,445. The circulating supply is $55,454,734,800 and the ROI of VeChain is -76.59%.

The last week the currency was under the bearish pressure and its value was suffering. On the other hand, VeChain Thor blockchain was adopted by the government of San Marino and it Binance also got indirectly linked with the VeChain blockchain through DNVGL and VET alliance. This gives hope to the people in the community that the currency would do better.

VET Price Analysis: The last week on Monday, the currency started with a value of $0.0040 but the bear overpowers and the value started to decline. After the rest of the week, the value gradually decreased day by day. The currency started to trade at the value of $0.003395 on Wednesday and it was a big fall in the value and on Thursday the currency even reaches the low of $0.003173. However, the currency again reached up to the value of $0.003434 on Saturday after hovering around the value of $0.0032 to $0.0033 on Friday. The previous week has been tough for most of the other currencies too.

On 30th September the currency values were around the value of $0.0032 to $0.0034 and the currency started to recovery and reached up to the value of $0.003521, which is currently trading.

VET Technical Analysis: Vechain is very near to the EMA of 10-day and but the EMA of 20-day is in the red zone, if the currency broke the EMA of 10-day then the currency could lead towards the EMA of 20-day. On the other hand, the currency’s SMA of 20-day and 50-day are showing sell signals, which means bears still influence the currency. The RSI value at the 45 levels and it is neutral right now and the MACD signal is in the red zone. The situation in the market is still unclear and suggest is that for the trader to wait for the clearer situation and signal in the value of VeChain cryptocurrency.

The main resistance levels of the currencies lie at the values of $0.003580, $0.003742 and $0.0038. If the currency can breakouts these resistance levels then the currency will reach up to the value of $0.0040 again. The main support levels of the VET are $0.003481, $0.003251 and $0.003221. If bears overpower the currency then the currency could further break down up to the value of $0.0030.

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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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