- VET coin shows a some lower price rejection at the $0.10 support level
- The VET/BTC pair was trading at 0.000002837 BTC with an intraday loss of 10.79%
- The 24 hr trading volume in VET is $801.34Mn.
After its failed attempt to break the $0.14 level price, the VET coin is pushed back to its previous support level of $0.10. While writing this article, the price has halted at this support level and shows some lower price rejection. Thus investors can see how this candle turns out to be by the end of the day before entering the market.
Regarding the EMA’s, the VET coin is getting strong support from the 200 EMA and maintaining an edge to the long participants of this coin. The other vital EMA’s 20, 50, and 100 moving above the price, indicating a strong bearish trend and will act as a good resistance level.
The RSI (BEARISH) value is 40, indicating bearish momentum. RSI line is also traveling in a bearish slope and can soon enter the overselling zone without any signs of reversal.
VET Coin Makes A Head and Shoulder Pattern In A 4hr Time Frame.
In the 4hr time frame chart, VET shows a solid bearish head and shoulder pattern supporting the ongoing bearish trends. The neckline for this pattern is at $0.10 (traditional pivot level S1). Investors can wait for the price to breach this support level, which will complete this pattern, and investors can see more fall till 0.078 marks.
The MACD indicator(bearish) lines are moving below the neutral(0.00) zone, indicating bearish momentum in price. Also, there is a negative crossover of MACD and signal promoting the downfalls with a histogram showing rising red bars.
Conclusion: As per technical analysis, VET coin shows some sustainability above the $0.10 level with the help of 200 ema, making this support level extremely crucial for VET coin. Investors can wait to see the day’s closing indicating the further motive of this coin.
Support– $0.10
Resistance– $0.12