VeChain (VET) Suffers 5.13% 24Hr Drop – Price Analysis

  • VET price reflects bearish actions.
  • The alt’s crucial resistance stands at $0.0900.
  • VeChain trades at $0.0531 currently.

VeChain (VET) price reveals the alternative coin followed fluctuating trends within the past 48 hours. Meanwhile, the token shifted to positive after that, registering a substantial price gain, inching higher to the levels at $0.0580. However, bearishness emerged, dragging VET/USD lower by 5.13% within the past 24 hours. While writing this post, VeChain’s trading volume hovered at $343,518,019.

Latest Developments

VET price analysis shows market volatility. That is after the alt saw a slight upward move. That way, the crypto opened the squeeze, meaning the token’s price became somehow more prone to volatility shift to either extreme.

Meanwhile, the support and resistance bands seem to fluctuate away from one another, confirming surging volatility. The Bollinger band’s upper limit represents massive resistance for the token at $0.0576. On the other hand, the band’s lower level of $0.0467 serves as VET’s crucial support.

VET/USD price seems to cross below the MA curve, suggesting bearishness. Moreover, the price function appears to follow a resistance, and the token may cross the MA, shifting the movement. Nevertheless, the increasing volatility means surging reversal chances.

Meanwhile, the Relative Strength Index stays at 467, showing stability in the token, hovering at the bottom neutral zine. Moreover, the RSI seems to adhere to an upside approach, highlighting crypto value increase and buying activity dominance.

VET 1-Day Chart – Bears Dominate

VeChain’s 24hr outlook shows the token’s volatility on a surging wave. That way, VET price will fluctuate depending on volatility; high volatility means a high probability of the asset switching towards either extreme. The upper Bollinger serves as resistance at $0.0900, while the lower one, at $0.0458, represents VET’s massive support.

VET price appears to cross beneath the MA curve, confirming a bearish move. The price maintains an upward trajectory which highlights possible bullish strength at last. Meanwhile, bears seem not ready to surrender even as bulls gain remarkable momentum.

Final Thought

VeChain price analysis shows bearish momentum with impressive bullish potential. VET/USD struggles at $0.0540 after touching the $0.0580 highs yesterday. Bears and bulls battle appears standstill as bears could not give up even after exhaustion.

By Edward Richardson
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