1. BITBILIHome
  2. Article

VeChain price analysis: VET obtains positive momentum at $0.0157

• 32 views

TL;DR Breakdown

  • VeChain price analysis is bearish today.
  • The strongest resistance is present at $0.0218.
  • The strongest support is present at $0.0142.

VeChain price analysis shows that the price of VET/USD has followed a strong upwards trend in the last 24 hours. The price has maintained an upward trajectory, experiencing substantial growth and coming close to reaching the $0.016 threshold. The market sentiment is optimistic, with the cryptocurrency displaying an upward trend. Over the past 48 hours, the price has gained positive momentum, climbing from $0.0139 to $0.0151, peaking at $0.0155 throughout the day. At present, VeChain’s value stands at $0.0157.

As of today, VeChain is priced at $0.0157, with a trading volume of $62.78M and a market capitalization of $1.13B. It holds a market dominance of 0.11%. Over the past 24 hours, VeChain’s price has increased by 4.31%. Currently, the sentiment surrounding VeChain’s price prediction is bearish, and the Fear & Greed Index indicates a neutral value of 47. VeChain’s circulating supply is currently 72.71B VET out of a maximum supply of 86.71B VET. The yearly supply inflation rate stands at 11.45%, resulting in the creation of 7.47B VET in the last year. In terms of market capitalization, VeChain holds the 21st position in the Layer 1 sector.

VET/USD 4-hour price analysis: Latest developments

VeChain price analysis reveals that the market has experienced volatility with a downward trend, resulting in a closure that has made the cryptocurrency’s price less susceptible to extreme and sudden changes. The support band is approaching a consolidation, suggesting reduced volatility and a robust resistance level. Bollinger’s upper limit stands at $0.0184, serving as a significant resistance point for VeChain. Conversely, the lower limit of Bollinger’s band is situated at $0.0142, indicating a strong support level for VET.

The VET/USD price has recently surpassed the Moving Average curve, indicating a bullish trend in the market. Additionally, the price trajectory is showing an upward movement towards the resistance level. However, it is important to note that once the price reaches the resistance, there is a possibility of a market reversal. This breakout could potentially impede the progress of VET and create an opportunity for the market to reverse its direction.

image 428.0157" src="https://en.bitbili.com/wp-content/uploads/2023/06/frc-a382f3c31e7f374f181b1b68046e02e2.png">VeChain price analysis: VET obtains positive momentum at <img decoding=.0157" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/06/frc-a382f3c31e7f374f181b1b68046e02e2.png">
VET/USD 4-hour price chart Source: TradingView

VeChain price analysis indicates that the Relative Strength Index (RSI) currently stands at 39, suggesting a stable state for the cryptocurrency. This value is situated in the lower neutral region, indicating a balance between buying and selling pressures. Moreover, the RSI is showing an upward trend, suggesting an increase in the value of the cryptocurrency and the dominance of buying activities in the market.

VeChain price analysis for 1-day: Market gains positive potential

The current VeChain price analysis reveals that the market is undergoing a phase of increased openness, gradually contracting and thereby reducing overall market volatility. This decreasing volatility implies that price fluctuations of VET/USD will align with the prevailing volatility, leading to a reduced likelihood of extreme price movements. Notably, the upper limit of Bollinger’s band is situated at $0.0218, serving as a robust resistance level for VeChain. Furthermore, the lower limit of Bollinger’s band is observed at $0.0161, indicating an additional resistance point for VET. This resistance level suggests a price threshold where buying activity may face considerable resistance.

The VET/USD price has recently crossed below the Moving Average curve, signaling a bearish trend in the market. However, it is worth noting that the price trajectory is currently exhibiting an upward movement, suggesting the potential for bulls to reverse the bearish momentum. This indicates a possibility of positive momentum building up, with the price moving towards value increments. It is important to monitor further price developments to assess the strength and sustainability of this potential reversal.

image 429.0157" src="https://en.bitbili.com/wp-content/uploads/2023/06/frc-f1fdc9bb3a63123f084f04225dc1a737.png">VeChain price analysis: VET obtains positive momentum at <img decoding=.0157" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/06/frc-f1fdc9bb3a63123f084f04225dc1a737.png">
VET/USD 1-day price chart Source: TradingView

VeChain price analysis indicates that the Relative Strength Index (RSI) currently stands at 25, which suggests that the cryptocurrency is displaying signs of being undervalued. VeChain is positioned in the undervalued region according to the RSI score. The RSI is showing an upward trend, indicating a slight increase in the market. This upward movement implies that buying activity is starting to surpass selling activity.

Vechain Price Analysis Conclusion

In conclusion, the VeChain price analysis provides valuable insights into the recent trends and dynamics of the cryptocurrency market. Over the past 24 hours, VeChain has demonstrated a strong upward trend, experiencing significant growth and approaching the $0.016 threshold. The market sentiment has been optimistic, with positive momentum and an overall bullish outlook.

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: VET obtains positive momentum at $0.0157

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6月14日 02:38
Next 2023年6月14日 04:04

Related articles

  • Aptos price analysis: APT soars to $9.30 after a successive bullish run

    TL;DR Breakdown Aptos price analysis indicates a bullish trend today. The resistance for APT/USD is found at $9.39. The support for APT is present at $8.87. The Aptos price analysis is showing bullish results for the day as the price kept rising steadily. The buying pressure is seen to be strong, pushing the price up by 2.89% from its opening value of $9.01 rallied to $9.30. The market was in the bearish trend earlier today,  threatening to drop below its intraday low of $8.87. But it quickly shifted back to the bullish sentiment and has maintained its momentum throughout the day. APT/USD 1-day price chart: Aptos price gains bullish momentum as it reaches $9.30 The 1-day Aptos price analysis chart shows the candlesticks are moving in a bullish direction after a prolonged period of loss. The APT/USD price has recovered above the $9.30 level as more buying is seen in the market.  The trading volume has slightly increased by 19.17 percent, and it is currently at $103 million, while the market cap has increased by 2.97 percent over the past…

    Article 2023年6月8日

  • Litecoin Price Prediction 2023-2032: Will LTC Price skyrocket?

    Contents hide 1 How much is LTC worth? 2 Litecoin price analysis: LTC price extends bullish recovery from $90 3 Litecoin Price Predictions 2023-2032 3.1 Litecoin Price Prediction 2023 3.2 Litecoin Price Prediction 2024 3.3 LTC Price Forecast for 2025 3.4 Litecoin Price Prediction 2026 3.5 Litecoin Price Prediction 2027 3.6 Litecoin Price Prediction 2028 3.7 Litecoin Price Prediction 2029 3.8 Litecoin Price Forecast 2030 3.9 Litecoin (LTC) Price Prediction 2031 3.10 Litecoin Price Prediction 2032 4 Litecoin Overview 5 Litecoin Price History 6 Recent News/Opinions on LTC 7 More on the Litecoin Network 8 Conclusion Litecoin Price Prediction 2023-2032 LTC Price Prediction 2023 – up to $125.62 LTC Price Prediction 2026 – up to $427.13 LTC Price Prediction 2029 – up to $1,216.3 LTC Price Prediction 2032 – up to $3,638.68 BREAKING: Twitter to enable #crypto trading in partnership with eToro. Users searching using a $Cashtag symbol currently see live charts for a select few financial assets, like $LTC. Users will soon be able to click through to eToro & have the option to invest in #Litecoin. Is Litecoin…

    Article 2023年6月5日

  • Friend.tech’s Innovative Approach: From “Shares” to “Keys” Amidst SEC Concerns

    TL;DR Breakdown Friend.tech rebrands its “shares” feature to “keys” to potentially sidestep regulatory concerns, emphasizing their use as in-app items to access chatrooms. The platform’s model, resembling the stock market, might attract SEC attention, especially if “keys” are traded on external platforms, blurring the lines between digital assets and traditional securities. Description In the rapidly evolving world of decentralized platforms, Friend.tech has emerged as a significant player, creating ripples in the crypto space. The platform’s recent decision to rename its “shares” feature to “keys” has sparked a flurry of discussions among analysts, especially concerning potential scrutiny from the Securities and Exchange Commission (SEC). This article delves into … Read more In the rapidly evolving world of decentralized platforms, Friend.tech has emerged as a significant player, creating ripples in the crypto space. The platform’s recent decision to rename its “shares” feature to “keys” has sparked a flurry of discussions among analysts, especially concerning potential scrutiny from the Securities and Exchange Commission (SEC). This article delves into the reasons behind this change, the platform’s unique business model, and the implications for the…

    Article 2023年8月22日

  • Kenya’s president really just hates the US dollar

    TL;DR Breakdown Kenyan President, William Ruto, urges African nations to use local currencies in cross-border trades instead of the USD. The African Export-Import Bank (Afreximbank) provides a system for smooth financial exchanges between African traders. Ruto’s call isn’t a rejection of the USD, but a push for African economic independence. Description Kenya’s President, William Ruto, a firm advocate for local currency reliance in Africa, intensifies his campaign against the dollar. The message is clear: it’s high time African nations abandon the use of the currency in cross-border trade and embrace their national currencies. Afreximbank: A tool for currency liberation Ruto’s conviction is not just theoretical but … Read more Kenya’s President, William Ruto, a firm advocate for local currency reliance in Africa, intensifies his campaign against the dollar. The message is clear: it’s high time African nations abandon the use of the currency in cross-border trade and embrace their national currencies. Afreximbank: A tool for currency liberation Ruto’s conviction is not just theoretical but based on existing continental infrastructure, the African Export-Import Bank (Afreximbank). The bank offers a system enabling…

    Article 2023年6月20日

  • Americans don’t really like the idea of CBDC

    TL;DR Breakdown Despite the prevalence of digital dollars, Americans express hesitation about a Central Bank Digital Currency (CBDC). Twice as many survey respondents oppose (34%) the idea of a CBDC compared to those who favor it (16%). Men, Black Americans, and younger individuals express higher support for a CBDC than their demographic counterparts. Despite the ubiquity of digital dollars in the form of credit cards, debit cards, and various digital platforms, Americans appear to be more hesitant when it comes to the concept of a Central Bank Digital Currency (CBDC), an asset that would bridge citizens and the central bank of the U.S. more directly. Shaky ground: American perspectives on the CBDC The concept of a CBDC doesn’t garner strong support in America, with a recent survey revealing that twice as many respondents were in opposition (34%) to the Federal Reserve offering a CBDC compared to those in favor (16%). Unsurprisingly, a good number of Americans (49%) are yet to take a stance, considering a mere 28% of the population are familiar with CBDCs. Political affiliations show a notable divide,…

    Article 2023年6月16日
TOP