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.
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
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.
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.