VeChain is down over 20% in the last 24 hours and is showing signs of a downward trend in the near term. The $0.0760 price level stood as a strong support levels last week and we were able to take profit at a 50% gain with our long at $0.0980 (+100% increase). Now, if we look at the daily chart, this is one of the longer-term support levels with a bearish divergence in the price action as shown in the chart below:
In this article, you will look at the price of VeChain (VET) over the next 24 hours and discover whether the coin is likely to reach a low during this period or not.
VeChain has a market cap of $740.98 million, with a 24-hour trading volume of $37.14 million. The price of the token is $0.10, with a 24-hour trading volume of 99812.94 BTC. VeChain is ranked number 486, with a market cap of $740.98 million.Summary of the situation
- VET went up a little yesterday.
- Over the course of the night, the Bears gradually regained control.
- The next support is at $0.09.
VeChain’s price analysis for today is bearish, as the market failed to rise overnight and the bears took over. Therefore, we expect VET/USD to break below $0.09 and reach the next support level at $0.09 early next week. Crypto-currency heat map. Source: Coin360 The general market has moved into negative territory over the past 24 hours. Bitcoin was up 1.47% and Ethereum was up nearly 2%. The rest of the altcoin market is following this bearish scenario.
VeChain price movement in the last 24 hours
VET/USD was trading in a range of $0.1002 – $0.1079, indicating low volatility. Trading volume fell 42.55% in 24 hours to $490 billion. The total market value is $6.54 billion, putting the cryptocurrency in 21st place overall.
4-Hour Chart VET/USD – VET continues to hold support at $0.10
On the 4-hour chart, we see the price of VeChain approaching support at $0.10 again, as the bears prepare to push the market towards the next support at $0.09. 4-hour chart VET/USD. Source: TradingView Overall, the market moved in a downward momentum last week, following a decline on the 4th. June had reached a strong high of $0.15. Since then, the ETV/USD has had several lower lows and higher highs, indicating that the bears have taken control of the market. Support around $0.10 was first seen on the 8th. June found and tested again yesterday. From that point, the VET/USD made a small bounce from the resistance trend line that has been in place for a few days and retested the $0.10 level. This movement in price action means that we can expect a breakout in the next 24 hours. If the ETV/USD breaks above the downtrend line, it will reach $0.12 and rise further from there. Alternatively, VET/USD could head towards support at $0.09, which would be the most likely scenario given the price action over the past 24 hours.
VeChain price analysis: Supplement
VeChain’s price analysis is bearish today, as the market failed to move higher yesterday and the bears took control of market sentiment today. Therefore, a further decline towards $0.09 is expected, which could lead to bearish price action in the next 24 hours. In anticipation of further price movements of VeChain, read our guides on how to cash in bitcoin, buy bitcoin stocks and whether you should buy bitcoin. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.VeChain price analysis: VeChain still around $0.10, move lower overnight? VeChain has been in a very nice uptrend for the past four months, which resulted in its price rising from $0.01 to $0.30. Its market cap rose from $120M to $2.9B. For a moment it went as high as $0.67, and for a moment it went as low as $0.27. It has been trading within a tight range in the past two days, with no major movements. This might indicate that the longer-term trend is still bullish, and that this trend is more likely to continue than to reverse.. Read more about vechain price and let us know what you think.
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