- Vechain coin price over the monthly chart, after dropping nearly -10% is now reached the critical trend line or support line
- Currently, VET is trying to defeat the SMA of 20-Day, while comfortably holding 50,100 and 200-Day moving averages
- The pair of VET/BTC also trading under pressure with an intraday fall of -5.62%, which is standing at 0.00000355 BTC
Vechain coin price is now reaching near the critical support line or trend line while defending against the 20-SMA. However, if the coin fails to hold the rising support line, we can see some more corrections. Whereas the volume of the past few days also seems less, it falls below the average line. Likewise, the coin over the long-term chart still looks bullish, as it holds the all major moving averages of 50,100 and 200-Day successfully. The support on the lower side is at $0.1850, and $0.1550 can be treated as solid support. Likewise, resistance on the higher side is present at $0.2250 and $0.2560.
Technical Indicators Showing Sign of Weakness
Vechain coin price over the weekly chart is witnessing selling pressure at the higher levels. Whereas VET price dropped nearly -9.80% and currently trading at $0.1982. Similarly, both the leading and lagging indicators indicate some weakness on the chart. The total market capitalization also cuts by -8.53% remains at $12,762,393,209. Likewise, volume also falls nearly -13.46% standing at $12,762,393,209. Intraday support is placed at $0.1825 and $0.1750. At the same time, resistance is at $0.2250 and $0.2430.
Relative Strength Index (BEARISH) indicates bearish momentum while trading at 42.62. However, VET is currently heading towards the oversold zone suggests its weakness.
Moving Average Convergence Divergence (BEARISH) currently indicates a bearish momentum on the daily chart as it is trading with the significance of the seller’s line (red) over the buyer’s signal line (green).
Support levels: $0.1850 and $0.1550
Resistance levels: $0.2250 and $0.2560.