1. BITBILIHome
  2. Article

VeChain price analysis: Price levels stumble below $0.01950 after bearish push

• 56 views

TL;DR Breakdown

  • The latest VeChain price analysis shows bearish signs.
  • The price has decreased to $0.01946 today.
  • Support is found at the $0.01887 level.

The VeChain price analysis is indicating that the price levels have dropped down to $0.01946 once again. The bearish slop has been continuous during the day, and it is further strengthened by today’s loss. More sellers are attracted to selling their assets, which is why VET price levels are going down. The short-term trend line is thus moving downward, which is a major bearish indication as well. Interestingly, the VET/USD price has been fluctuating quite far from its closing price caps for a long time, which makes intraday trading interesting but risky.

VET/USD 1-day price chart: Price deviates once again as bears strike

The 1-day VeChain price analysis is going strong for the bears, as price levels are downgrading again after a brief bullish interval. The price has decreased up to $0.01946, and it seems that the bears are trying to regain their lost momentum. The past week has been greatly supportive of the bears, and the trend is following up today as well. Other values include the moving average (MA) value, which is currently settled at the $0.01931 spot.

vet1d lat1.01950 after bearish push" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-c4ea0d3ca4f461029ece6035f28c611d.png">VeChain price analysis: Price levels stumble below <img decoding=.01950 after bearish push" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-c4ea0d3ca4f461029ece6035f28c611d.png">
VET/USD 1- day price chart. Source: TradingView

The volatility is slowly decreasing, which could be taken as a negative hint for the future. The Bollinger band values in the above price chart are as follows; the upper Bollinger band is present at $0.01982, while the lower Bollinger band is at $0.01887. Whereas the Relative Strength Index (RSI) score is also going down again, and this time it has gone back to the 43 level.

VeChain price analysis: Recent developments and further technical indications

The 4-hour VeChain price analysis shows that the price has undergone a significant loss after bearish activity. The bears have been in the lead for the past few hours, and they are still maintaining their high position as the price has decreased further. The moving average value is above the current price of $0.01943 because of the recent bearish drive. Meanwhile, the Bollinger bands are securing an average of $0.01925 in the 4-hour price chart.

vet4hlat2.01950 after bearish push" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-a9bf884734e667d3b9335eb415c4e0e1.png">VeChain price analysis: Price levels stumble below <img decoding=.01950 after bearish push" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-a9bf884734e667d3b9335eb415c4e0e1.png">
VET/USD 4-hours price chart: Source: TradingView

The upper Bollinger band is standing at the $0.01966 level, whereas the lower Bollinger band is now present at the $0.01883 level. If we talk about the RSI score in the following chart, then it has also flattened at 53 because of the bearish trend.

VeChain price analysis conclusion

The given 1-day and 4-hour VeChain price analysis is confirming the downtrend for the day, as the bears are at the leading edge right now. The bearish momentum has taken the price levels down to $0.01946, which is a significant decline in the price. There is an avid chance that the price will go even further lower than the current price level to maintain a new low, as it already swung as low as $0.01920.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:VeChain price analysis: Price levels stumble below $0.01950 after bearish push

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月30日 12:04
Next 2023年5月30日 13:09

Related articles

  • US Treasury Secretary confident in US’s ability to control inflation

    TL;DR Breakdown Treasury Secretary Janet Yellen is increasingly confident in the US’s ability to combat inflation without significant job market repercussions. Yellen dismisses concerns about China’s efforts to boost BRICS’ influence, emphasizing that the G-20 remains the primary platform for global cooperation. Goldman Sachs economists lower the probability of a US recession from 20% to 15%, reflecting encouraging economic indicators. Description Treasury Secretary Janet Yellen expressed growing confidence in the US’s ability to curb inflation without causing significant harm to the job market. She cited data indicating a steady slowdown in inflation and an increase in job seekers. Yellen stated that she is “feeling very good about that prediction” and believes the US is on a … Read more Treasury Secretary Janet Yellen expressed growing confidence in the US’s ability to curb inflation without causing significant harm to the job market. She cited data indicating a steady slowdown in inflation and an increase in job seekers. Yellen stated that she is “feeling very good about that prediction” and believes the US is on a path that aligns with her expectations…

    Article 2023年9月11日

  • KuCoin implements mandatory KYC checks to strengthen security and compliance

    TL;DR Breakdown KuCoin, a leading cryptocurrency exchange, will implement mandatory know-your-customer (KYC) checks starting from July 15, 2023, to enhance security and comply with global regulations. New customers will be required to complete the KYC process to access KuCoin’s services, while existing customers who don’t comply will have restricted access to certain features. The strengthened KYC framework aims to safeguard user assets, address security challenges, and align with the industry trend of increasing KYC policies. Description Cryptocurrency exchange KuCoin has announced its plans to introduce mandatory know-your-customer (KYC) checks, effective July 15, 2023, as part of its ongoing efforts to enhance security and comply with global regulations. This strategic move aims to bolster the security level of user accounts and foster a safer trading environment for all cryptocurrency users. Safeguarding user … Read more Cryptocurrency exchange KuCoin has announced its plans to introduce mandatory know-your-customer (KYC) checks, effective July 15, 2023, as part of its ongoing efforts to enhance security and comply with global regulations. This strategic move aims to bolster the security level of user accounts and foster a…

    Article 2023年7月1日

  • Coinshares record strong revenue growth in Q2 2023

    TL;DR Breakdown Coinshares has reported a massive boost in its financials in the second quarter of 2023. Diversified crypto activities drive the firm’s success. Description CoinShares, a prominent European manager of crypto exchange-traded products (ETPs), has reported robust financial performance for the second quarter of 2023, marked by a 33% surge in total revenue compared to the same period the previous year. According to an announcement made on August 1st, the firm achieved total revenue of 20.3 million pounds ($25.9 … Read more CoinShares, a prominent European manager of crypto exchange-traded products (ETPs), has reported robust financial performance for the second quarter of 2023, marked by a 33% surge in total revenue compared to the same period the previous year. According to an announcement made on August 1st, the firm achieved total revenue of 20.3 million pounds ($25.9 million) during Q2 2023. Coinshares records 33% increase in Q2 2023 This increase was driven by a substantial gain of 10 million pounds ($12.76 million) in capital markets operations, which includes trading activities. This gain offset a 25% decline in year-over-year asset…

    Article 2023年8月3日

  • Here are the firms fueling the U.S. stock rally

    TL;DR Breakdown Despite recessionary fears and regional bank failures, the U.S. economy continues to grow, with the S&P 500 index rising more than 14% this year. The success is primarily driven by a few tech giants, creating an illusion of overall market health. The dominance of these firms is leading to market concentration and overvaluation risks. The biggest contributors to this rally are seven tech giants – Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta, with gains between 40% and 180% this year. In a surprising twist for financial markets, 2023 stands in stark contrast to expectations, defying the pessimistic forecasts of investors and analysts who entered the year bracing for an economic downfall in the U.S. Contrary to predictions, despite a series of regional bank failures and rising interest rates, the U.S. economy continues its growth trajectory. Fueling this wave of optimism is the S&P 500 index, the barometer for U.S. blue-chip stocks, which has surged upwards by more than 14% this year. Driving the rally: Tech heavyweights reign supreme However, a deeper dive into the elements behind this…

    Article 2023年6月18日

  • Avalanche price analysis: AVAX maintains value around $14.8

    TL;DR Breakdown Avalanche price analysis is bearish today. The strongest resistance is present at $18.2. The strongest support is present at $14.8. Avalanche price analysis indicates the emergence of a bearish trend that is progressively gaining strength, with substantial potential for further downward movement. The AVAX/USD trading pair is currently priced at $14.8, showing a decline of 0.48% within the past 24 hours. Yesterday, the market witnessed a substantial downturn, marked by a swift downward trajectory, and is now showing early signs of optimistic bullish activity after falling below the $14.6 threshold. Additionally, there is a decrease in market volatility, creating a favorable environment for the bulls to initiate a significant rebound. As of today, the price of Avalanche (AVAX) stands at $14.80, accompanied by a 24-hour trading volume of $203.96 million. The market capitalization of AVAX amounts to $4.93 billion, indicating a market dominance of 0.43%. Over the past 24 hours, the AVAX price experienced a decrease of -0.36%. Currently, the sentiment for Avalanche price prediction is bearish, while the Fear & Greed Index indicates a neutral value of…

    Article 2023年5月18日
TOP