Price Analysis

VeChain Price Analysis: VET Price Traces a Low Swing, Struggles to Rebound

Until yesterday, VeChain was trading with its price above $0.007 before meeting price oscillation between $0.007 and $0.006. Today, the coin opened just below $0.007 at $0.0069 and continued with a bearish trend. 

The recent price slump yesterday has caused it to reach its new 30 Day low price at $0.00593. However, today, the coin appears to be in an attempt to start a price recovery as the price trend heads upwards.

Current Statistics:

At 11:51:27 UTC, VeChain was trading with its price at $0.00654. It holds $359,215,369 as its market Capitalization, and 55,454,734,800 VET as its Circulating supply. VET fetches -56.93% of RoI (Return on Investment).

VET/USD Price Chart

VeChain Price Chart
VeChain Price Chart

VET took a gradual plunge from $0.00696 and reached as low as $0.0060 having it as the closing price. Today, initially, the coin saw further turbulence and hit the bottom at $0.00583. From here, it has started to trace an uptrend and is above $0.0065 at present, though the coin is yet to strike a price recovery. 

Technical Indicators:

MACD for VET continues to appear volatile despite extreme bearishness in its price. RSI for VET is near 60, showing no extremities at present. The coin may see further resistance at $0.0066 and $0.0073. And possible support levels can be $0.0056 and $0.0052.


Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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