Price Analysis

VeChain (VET) Shocks the Market with a 4.71% Recovery Overnight

Finmax
  • VeChain (VET) gains 4.71% in the last 24 hours
  • The next resistance for VET coin may come at $0.0047

VeChain has been able to invite the recovery process after a while. In the last 24 hours, VET price has been up by a whopping 4.71%. It has been through three major price swings in these hours, and all in the range between $0.0041 and $0.0045.

VeChain Price Analysis

VET coin’s first swing happened in the initial 6 hours and 3 minutes. It lost 5.04% in these hours and got pushed to 0.0041146 USD, the lowest for the day. After 06:04 UTC, it started showing strength, and over the next 14 hours and 15 minutes, VeChain price could scale as high as 0.00447694 USD, thanks to the 8.80% hike. The last major price variation happened between 21:21 UTC and 01:54 UTC, and this variation added another 0.0002896 USD to the value and pushed VET price to the highest for the day at 0.00454436 USD.

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VeChain Price
VET Chart By TradingView

Along with the price against the US Dollar, the Market Cap of VeChain also saw a hike. Between November 04 and 05, the Market Cap rose to 251.435 million USD from 243.752 million USD.

VET coin’s 20-days and 50-days moving averages are at 0.00376248 USD and 0.00370855 USD, respectively. The current price of VET coin at 0.00453759 USD is 22.35% and 20.60% more than the 50 days average and 20 days average, respectively. Looking at the current price trend, we can expect the continuation of this uptrend in the coming days.

VeChain (VET) Resistance and Support Levels
1st Resistance $0.004488
2nd Resistance $0.004581
3rd Resistance $0.004733
1st Support $0.004243
2nd Support $0.004091
3rd Support $0.003998

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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