Price Analysis

Vechain Price Gets Encircled by the Bears; Falls With 22.5% in Last 25 Days

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Recently, VeChain has released its annual report where they elaborated the details of all the partnership and future roadmaps. In the report, the foundation mentioned about its partnership with San Marino Innovation and DNV GL. Further, it focused on the VeChainThor Blockchain adoption in the republic to become the first carbon-neutral country. On July 16, the blockchain recorded the highest number of transactions summing up to 1.1 million transactions with more than 35 million VTHOs burned.

VeChain Price Comparison:

On September 05, VeChain was trading at 0.004229 USD. Nevertheless, after 25-days, the crypto is declined by a margin of 22.5%. Similarly, in the weekly trading, it went down by a substantial fraction of 17.71% from the trading price of 0.003982 USD on September 24. Yesterday, the coin again made a dip 2.59%; It opened the day at 0.003443 USD and closed at around 0.003354 USD.

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VeChain Price
VeChain Chart by TradingView

On September 25, VET has made a huge decline. Since then the coin was in the green zone and was moving at a stable pace. However, in the last couple of days, besides being in the red zone, VeChain has been almost flattish in movement. The immediate resistance for the coin is at 0.003486 USD and the support level is at 0.003216 USD.

VeChain is facing a bearish trend and it is a good time for investors to buy more VET chips.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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