- VET has resumed its selling pressure after a small weekly recovery. The last 24 hours saw a 4% decline in the stock.
- The 28th-ranked cryptocurrency by market capital could face more trouble if it slips below the monthly low.
- Markets are currently bearish in the hourly chart.
VET/USD: VeChain Trades At Crucial Support Line
Key Resistance Levels: $0.0095, $0.0107, $0.011
Key Support Levels: $0.0076, $0.0066, $0.0060
VeChain lost an important chunk of value in the past seven days, after a brief recovery from $0.0106 to $0.0106. The trend is still bullish in the higher timeframe, but bearish at the moment on the lower.
Following the weekly bounce from $0.0076, VeChain’s price got rejected at $0.0095 and continued to drop to where it’s currently trading at $0.00853 – near a crucial trend line that is acting as support over the past three weeks.
Currently, the selling volume is very low. The volatility could expand below the rising holding trendline if it continues to increase. The price may bounce back, however, if the buyers are committed.
VET Price Analysis
VET has dropped by 3.99%. If prices continue to decline, $0.0076 would be the level at which the VET price would reach. next Selling target At $0.0066, you should be on the lookout for a support level. In the event of further decline, there is a psychological support level located at $0.006.
A recovery from current levels could revive bulls’ hopes. Watch out for the first level of resistance, which is $0.0095. Next comes $0.00107. After this level, the next resistance is $0.0011 and then $0.00107.
VeChain: Support for VeChain has dropped slightly
Key Resistance Levels93 SAT, 100 SAT, 108SAT
Key Support Levels88 SAT, 80 SAT, 68 SAT
After charting highs at 108 SAT and 100 SAT, VeChain dropped slightly off a significant support line – marked yellow on the above 4-hours chart – which held bullish actions for the past 21 days.
As bears plot their next moves, the price is consolidating at 92 SAT. next The major movement. The chart shows that the volume of trading is very low.
VET Price Analysis
If the market continues to fall, the nearest supports for sale are the 88 SAT level and the 85 SAT level, then the gray areas around 80 SAT. If the market continues to fall, then the nearest supports for sale are at 88 and 85 SAT followed by 80 SAT grey zones. next If there is a breakdown it’s best to keep an eye on the grey areas between 68 SAT &65 SAT.
The price could revisit 100 SAT if VeChain reclaims 93 SAT. This weekly resistance is 100 SAT. next Resistance above this was 108 SAT, which marked the monthly high.
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