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