- VET coin indicates the 20- and 50-day EMAs are poised to give rise to a bearish crossover.
- The VET/BTC pair was trading at 0.000002211 BTC with a gain of 0.06%
- The 24hr trading volume for the VET coin is $544.7 Million
After making a high till the 0.155 on 6th September, the remarkable rally for the VET coin entered into a retracement phase. However, for a minor pullback, the coin price has fallen more than what was expected by the coin buyers and has plunged to the crucial support of $0.095, providing good support to the price.
The EMA’s lines show that the VET coin price is trading below the crucial EMA’s of 20, 50, 100, and 200, indicating a bearish trend formation. In addition, the chart also shows the 20 and 50 EMA could soon offer a bearish crossover, luring even more selling pressure to this coin.
The RSI (BEARISH) current value is 36, and it shows a steady decline towards the oversold zone of its chart.
The VET Coin Crypto Chart In The 4hr Time Frame
In the above chart, the VET Coin shows that its price is getting strong support from the $0.95, displayed by some long lower price candles. However, the VET coin price is still trading at $0.093, and the crypto trader should wait for the price to show proper sustainability above this level before entering the coin market.
The moving average convergence/divergence indicator (BEARISH) shows both the MACD signal lines are moving below the negative zone (0.00), indicating the bearish sentiment in the VET coin. However, the indicator also shows its lines are on the verge of giving a bullish crossover, which will add a great confirmation for a price reversal.
Conclusion: From the technical perspective, the VET coin shows a solid bearish outlook in its price action and indicators in the short term. And as mentioned above, the coin is currently trying to sustain above the $0.095 support level, encouraging the coin buyers for the continuation of its bull rally.
Support: $0.095
Resistance: $0.111