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- Vechain price is currently travelling in bearish mode with a loss of more than 5% in the intraday session. The fall in the price can be correlated to the fall in BTC.
- VET price has formed a downwards parallel channel which can take it to the new low . In contrast, VET/BTC pair is also observing a strong downtrend in the value.
VET crypto price is currently falling with a rapid pace on the smaller time frame. Vechain price is currently trading near the value of $0.06239 and has seen a loss of more than 5.2% in the intraday session. The fall in the price of Vechain can be correlated with Bitcoin fall. The asset has an ROI of higher than 328% which has always remained a plus point for the investors. On coming to the daily chart the VET price continues to traverse in parallel channel. VET price may observe a new low in upcoming days. The VET/BTC pair can also see a breakdown below the major support levels . One should wait for the positive breakout in VET price before investing.
VET token has seen a loss of more than 77% within three months. Vechain has a market dominance of more than 0.32% and is ranked 23rd in the CMC The volume to Market capitalization ratio for the VET is currently near the value of 0.098. If the price jumps above the threshold of 0.8 then a strong upside momentum can be seen.
Technical Indicators Suggests The Continuation Of Downtrend In VET Crypto Price
The weekly technical chart of Vechain tells that the”Bears are On Roar” for the price. VET price is currently showing a strong bearish momentum on the daily chart . VET price hostile region on the upside can be seen near $0.1. In contrast, on the downside, the asset can see a support near $0.03. If the price goes above $0.1 , then a strong upside momentum up to a point of $0.2 can be seen. VET/BTC pair is also observing a downside momentum but can soon revert back to the uptrend. One should invest in Vechain as per their risk capacity.
Conclusion
VET crypto price is currently seeing a strong downside momentum on the daily chart . It may hit a new low in the future. One should wait for a positive breakout before investing.
Technical Levels
Major Support:$0.03
Major Resistance:$0.1
