Price Analysis

VeChain Price Movement Reflects 9% Intraday Loss

VeChain intraday price movement is reflecting a heavy fall. The currency is speculated to improve in the coming days as the current market condition is quite hasty. The same has caused a heavy pullback in VET because of which the price is spotted dropping. Yesterday, the coin was seen dealing at a high at $0.006227 and a low at $0.005660. The volume marked by VeChain was $97,871,594.

VeChain (VET) Price Analysis:

Yesterday, VeChain started dealing at $0.006419. The price began falling from the opening hour. The coin slipped to $0.0059099 and later to $0.005584 by 7.94% and 5.51%, respectively. There was a slight recovery in the VET coin price in the later hours as the currency recovered and touched $0.005996. The progression marked was 7.39%. Later, the coin slipped to $0.005612 by 6.42%.

The intraday movement in VET coin registered a loss of 12.71%. Today, the currency started the day at $0.005612. The price dropped to $0.005202 by 7.31% regression. There was a slight improvement in the coin that took VET coin price to $0.00555 by 6.36%. The price slipped again and is now at $0.0051.

VeChain (VET) Forecast
VET Chart By TradingView

VET coin is experiencing heavy pressure today. The price has already dropped below the next support level at $0.00531 by breaching the immediate support at $0.0055. There is a strong possibility for the coin to fall below the major support level.

VeChain is ideally recommended for long-term traders, but as of now, the current price trend is indicating that short-term investment will help to gain considerable returns.

Resistance LevelPriceSupport LevelPrice
R1$ 0.006093S1$ 0.005526
R2$ 0.006444S2$ 0.00531
R3$ 0.00666S3$ 0.004959
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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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