- The VeChain price has declined by -19.77% in the last five years.
- The VET crypto has a market cap of $1.138B trading with a volume of 20.193M USD.
The derivatives volume for the VeChain crypto has declined by -26.16% following a decline of -1.63% in the Open Interest of the crypto. This decline often represents the loss of interest of traders towards the VET coin. The long/short ratio of the VET is 0.9395.
The VeChain crypto is following a long liquidation of $3.41K against short liquidation of $166.42 which means that more of buyers have lost money in crypto as compared to sellers. This also means that the trend of the crypto is negative.
The crypto spot volume for the VeChain coin has declined by -18.90% in the last 24 hours. The volume/market cap ratio of the crypto is 1.76% and the circulating supply of the coin is 72.7B VET and the max supply of then crypto is 86.71B.
VeChain Technical Analysis in Daily Time Frame
The price of the crypto has been consistently declining from the higher levels and has lead to the formation of the lower low swings leading to a bearish market structure. The price may can continue to decline to decline unless it breaks above the dynamic trendline formed due to lower swing points on the charts.
The 50-day and the 200-day EMA are trading in a death cross following a downtrend in the price. This indicates the presence of sellers in the market.
The RSI of the VET crypto has declined below the 50-level following the same the 14-day SMA has also declined below the level. This indicates weakness in the market.
VET Technicals Summary
As per the technical summary of the tradingview we can observe that the majority of the oscillators are neutral and the moving averages are indicating for a sell signal. This overall indicates a negative signal and represents that the crypto is totally bearish.
Conclusion
The market structure of the VeChain crypto looks bearish as the price has been consistently declining from the higher levels and the EMA and the RSI are also acting negatively.
Therefore, the price may can continue to decline unless it breaks above the level of $0.03198.
Technical Levels:
- The support levels for VeChain Crypto are $0.01561 and $0.01000
- The resistance levels for the VeChain Crypto are $0.0211 and $0.0265
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.