Price Analysis

VeChain Price Analysis: VET Price Remains Unaffected from BTC Price Rally

VeChain, the cryptocurrency established in Singapore is still trading in the bearish zone even after the recent price surge in Bitcoin. The BTC Bull Run over $12000, is said to have a notable impact on the crypto market along with crypto prices. However, VeChain price still appears unaffected.

The monthly chart of VET shows a few price spikes in its price trend as the coin had its 30-day high price point at $0.00105.

Current Statistics: 

At 11:42:18 UTC, VET was trading at $0.00724 while holding Market capitalization of $405,202,475. Also, the coin has 55,454,734,800 VET as part of its Circulating Supply. VET currently fetches -51.42% Return on Investment.

VET Price Chart

VET Coin Price Chart

On 25th June, Vechain saw a sharp price spike near $0.00105 followed by a gradual pullback. Here, it traced a bearish trendline, later, the coin again corrected upward at $0.00894 and returned back to its price range below $0.00778. 

The current price of VET is 6.21% lower than its 20-day SMA of $0.00772, which shows its strong bearish nature. The coin is even below its 5-days SMA.

Technical Indicators:

MACD for the coin appears quite bearish, also, it just had a bearish crossover. RSI for the coin is above 40 showing no extremities. VET may see further resistance at $0.0075 and support levels at $0.0071 and $0.0069.

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Ruti Vora

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

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