- VET coin price sees consolidation in its downtrend and can soon see a new low in upcoming days. It has observed a drop of more than 1.5%.
- Vechain might soon see a reversal to a new high in upcoming days in the future. In contrast, VET/BTC pair has seen a loss of more than 1.49%
VET crypto price is currently seeing a bearish trend in the current scenario and may test the lower support in the future. Vechain is currently hovering close to the value of $0.083 and has observed a fall of 1.2%. The asset is currently trading far below its 50 and 100 Daily Moving Average. It has seen a strong negative crossover in the daily chart. The 100 DMA is currently near the value of $0.12 which can act as a temporary resistance of the price. The asset cost price can see the further consolidation in price before going to a new high. One can assume a strong growth in the VET in the future.
Vechain coin price is currently ranked 32nd in the CMC and has a market dominance of more than 0.3%. The volume of the coin has also seen a strong surge in the upcoming days. Volume to market cap ratio of the Vechain hints towards a downside trend for the future. If the ratio sees a rally above 0.8 then a strong upside trend can be seen.
Bulls And Bears Of VET Crypto Price Are On Halt
The weekly technical chart of the Vechain hints towards a bearish trend in the price for the future. On coming to the daily chart,the asset is seeing a downside trend. The upside potential gain of the VET can see a hostility near $0.1. The bearish momentum of the asset can see a hostile region near $0.06. If the coin price sees a rally for more than 15 to 20% above the current level then a strong upside trend can be seen. VET/BTC pair can also see similar gains in upcoming days.
Conclusion
Vechain coin price is currently seeing a bearish momentum in the daily chart and can soon see a new high. VET/BTC pair can also see new gains in the upcoming days.
Technical Levels
Major Support: $0.5
Major Resistance: $0.1