- VET token price has been moving sideways with a small negative slope.
- The VET/BTC pair is trading at 0.000002375 BTC with an intraday fall of 2.89%.
- The token price moves alongside the 20-day EMA.
VET token prices bounced back to $0.06 and attempted to launch a bull rally but were stopped by $0.098 resistance coinciding with the 200 EMA.
The price made a morning star pattern before rising higher from the support level of $0.6. The long tail formation near the support level projects a strong demand zone near the support level.
The token makes a dip for hopeful investors looking to buy the coin at a lower price point; however, the strong demand near $0.6 may push the price higher, making the buy-the-dip moment worth a try.
San Marino Approves Blockchain ‘Covid Certificates’ on VeChain
San Marino General Council approves an incentive for green vaccination passes that use VeChain technology and non-fungible tokens.
The San Marino Digital Covid Certificate is valid for vaccinations and permits residents and citizens to move around the territory.
On July 1, the approval was announced. In addition, it was explained how the system works with QR codes and other non-fungible tokens. For authentication, the QR codes can be linked to an NFT on VeChainThor’s public blockchain.
VECHAIN Token Price Dip – Is it Worth Buying?
VET token price shows a descending triangle in the 4hr time frame. This pattern could provide a good short opportunity to VET coin traders; with this, investors can also use the traditional pivot levels in their chart to have more confirmation.
Most of the EMAs are intermingled, projecting no direct signals of the further price movement.
The ADX projects a rise in trend momentum as the ADX slope rises higher.
Conclusion: From the technical perspective, the VET token price has reached the short-term support trendline that may soon push the price. Investors waiting for a bullish entry spot might want to observe the coin price near the trendline patiently.
Support: $0.056
Resistance: $0.14