- The vet price is trapped in a whirlpool of downtrend movement across all time horizons. The bulls need to come forward as fast as they can.
- De Krypto Verméigen bewegt sech ënner dem 20, 50, 100 an 200 deegleche bewegende Moyenne.
- The VET/BTC pair is at 0.000001128 BTC with a loss of 2.20% in it.
VeChain (VET) is a versatile enterprise-grade L1 smart contract platform. VeChain exists to disrupt traditional business models, and is best known for its work in supply chain, an industry that has changed little over the decades.
The VET price after a long sideways trend is now facing bearish pressure and has been trapped in a tornado of downtrend movement over the daily graph. The coin needs its bulls to get over this downtrend movement and this needs to be done soon so as to prevent a coin from a collapse. The VET volume slumped 8% which is one the reasons for a price drop. The biggest dominator of the crypto market BTC is also contributing to the price drop by being bearish.
The price of one VET coin is currently trading at 0.021 USD with a loss of 8.26% in its market capitalization in the last 24 hrs. The coin has a trading volume of 111 million which is at a loss of 8.26% in the 24 hrs trading session and a market cap of 1.5 billion. The volume market cap ratio for VET is 0.07111.
Kuerzfristeg Analyse
While analyzing the graph for a short term (4 hrs) we can observe a strong downtrend movement over the coin. If the situation continues soon the coin may hit its all-time low, while the investors are facing huge losses from now.
The technical indicator like MACD is strongly in favor of a downtrend movement ahead as the red histogram is growing and the sellers are dominating as the MACD signal line is above the MACD line currently. The relative strength index just broke the oversold mark and now finding this as a good chance to buy the dip the coin price may rise once again. The RSI value is below 30 currently.
Konklusioun
The VET price after a long sideways trend is now facing bearish pressure and has been trapped in a tornado of downtrend movement across all time horizons. The VET volume slumped 8% which is one the reasons for a price drop. The technical indicators suggest a bearish movement further so the investors must be alert for the next move.
Technesch Niveauen
Resistenz Niveauen: $ 0.025 an $ 0.030.
Ënnerstëtzungsniveauen: $0.0175 an $0.0141.
Verzichterklärung
D'Meenungen an d'Meenungen, déi vum Autor uginn sinn, oder all Leit, déi an dësem Artikel genannt ginn, sinn nëmme fir Informatioun Iddien, a si etabléieren net d'Finanz, Investitioun oder aner Berodung. Investitioun an oder Handel vu Krypto Verméigen kënnt mat engem Risiko vu finanzielle Verloscht.
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Source: https://www.thecoinrepublic.com/2022/06/30/vechain-price-analysis-vet-price-slumped-8-calling-bulls-for-support/