VeChain Price Analysis: VET Continues to Trade with a Selling Pressure

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VeChain, today started its price journey with its price at 0.00602, as it had lost its price position above $0.007 a couple of days ago. Today, the coin managed to touch the price point above $0.007 gradually, but it again pulled back near $0.006.

VET, the cryptocurrency that is ranked on 30th position in the crypto market, had a notable partnership update a couple of weeks ago with retail giant Walmart China, as per VET news. Here, VeChain planned to provide the blockchain infrastructure to track all the goods in Walmart’s supply chain.

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Current Statistics:

VET currently is trading at $0.00643 at 11:45:20 UTC. VET holds Market Capitalization of $360,120,102, and Circulating supply of 55,454,734,800 VET. VET fetches RoI (Return on Investment) of -56.82%.

VET/USD 4-Hour Price Chart

VeChain Price Chart - 13 July
VeChain Price Chart

Comparison:

In the time span of 4 hours, VET initially traded in the bullish zone with Vechain price above $0.00655. At 10:07 UTC, VET takes a sharp fall at $0.00647 and corrects up at $0.00661. The coin further sees drop at $0.00641 with a decrease of 3.64%. Since then the coin has bearishly moved downwards.

VET’s current price at present is 14.03% lower than its 30-days SMA and the bearishness has caused it to trade in the Sell zone.

Technical Indicators:

MACD is currently bearish with its MACD line below its Signal line. RSI for the coin is at 40 showing no extremities. VET may see resistance at $0.00737 and $0.00786, and support levels at $0.00616 and $0.00544.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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