VeChain Price Analysis: VET Price Returns Back to Bearish Trend Even After Two Price Spikes Over a Day

VeChain seems to have quite a sloppy price trend for a long time now. The coin is failing to come out of the strong bearish impact as it is trading in a very narrow range around $0.007.

Not so long ago, an update had surfaced which revealed that VeChain will be bought back by its parent company, according to recent VET News. The news is expected to improve the price trend of the coin.

VeChain Price Analysis: VET Price Returns Back to Bearish Trend Even After Two Price Spikes Over a Day

Current Statistics:

At 11:45:25 UTC, VeChain is trading at $0.0074 while holding a Market Capitalization of $420,008,877. The crypto coin holds 55,454,734,800 VET as its Circulating Supply. VeChain fetches RoI (Return on Investment) of -49.64%.

VeChain Price Chart:

Vechain-Price-Chart

VET’s price chart manifests a lot of volatility in its price trend, though, at the end of the day, the price has not shown much of a change in it. The coin had its opening price yesterday at $0.00745 and it saw a surge at $0.00772 followed by a pullback near $0.00747.

VET again surged to $0.0771 and then corrected down to $0.00740 price mark. However, VET is 15.62% higher than its 10 day SMA of $0.0064.

Technical Indicators:

MACD for the 1-day price trend of VeChain appears too volatile and is having its MACD line above its Signal line indicating a stable bullish nature. RSI for VeChain shows up near 50 showing no extremities.

The coin may see major resistance at $0.0075 and $0.0076 and can see support levels at $0.0073 and $0.0072.  You can check our live VeChain Price Forecast to know more about the live price of VeChain.

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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