Price Analysis

VeChain Price Analysis: VeChain After Trading Near its Major Support Price of $0.0050 Bounces Back to $0.0055

VeChain is ranked amongst the top 50 coins in the global cryptocurrency market. Just as the whole crypto market was affected by the price drop yesterday, VeChain also leveled down near its major support level around $0.0050. VeChain price slid from $0.0071 to $0.0051 in the span of past one week.

The current market statistics are an indication towards having a better market scenario and upward rising trends today.

VeChain (VET) Chart:

Vechain price chart - july 18

VeChain Current Market Statistics:

The VeChain coin is currently trading at $0.0055 and 0.00000057 BTC at 9:20 UTC as on 18th July.

The Market Cap of the coin is $308,383,736, and the 24h volume is $50,640,105.

The current circulating supply of the coin is 55,454,734,800 VET.

VeChain is currently ranked at 31st position in the crypto market and fetches negative returns (63.39%) at present

VeChain To USD Price Comparison:

VeChain started the year with a price mark of $0.003958. It went as high as $0.0106 in the past 30 days, and a gave a new 90-day high price mark. This change recorded a growth of over 167%, which is considered phenomenal in the duration of the past six months. If considered the intraday movement of the coin, the major change is of over 18% on the same day, trading from $0.0049 to $0.0058. Today the coin opened with a bullish outlook, trading above the set baseline and is moving steadily thereupon.

Technical Indicators:

The MACD of the coin is currently having a negative outlook and manifests enough volatility.

The RSI of the coin is within the range and above 50 but inclined towards the upper range.

If the coin moves beyond the current trading price, it is bound to face the major resistance at $0.0058 and if it falls below the current trading price, the major support lies around $0.0050

VeChain Price Prediction and Conclusion:

The recent upgrades will help in accelerating the momentum of the coin and gain bountiful returns in the long-term. With this, it is expected that the coin with soon bounce back to trade above $0.0106 and hover around $0.015 by the end of the year.

Tags

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
Event Information
Event Information
Back to top button