VeChain is the first of its kind to create its own blockchain and platform. It does so through a combination of hardware and software.
This is a daily update to let you know the latest news on VeChain. At the time of writing this, we see that there is a sustained downtrend for the VeChain price. This is a good thing for the bulls, given the fact that it indicates that the price is still in the downtrend. The good news for the bears is that the level of support is still intact, which means we could see a bit of a pullback to the high of the current correction.
VeChain is the world’s leading blockchain platform for products and information. The price of VeChain has been hovering around $0.10 for the past few months, and is down 20% for the past 24 hours. This could be because the VeChain platform was recently added to Binance, and it is still working out the details.. Read more about vechain price prediction 2022 and let us know what you think.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 is a Chinese blockchain that aims to protect the supply chain of luxury goods. The blockchain is used to record the supply chain and its data is immutable and transparent. The main function of VeChain is to build a trust-free and distributed business ecosystem, enabling reliable collaboration between suppliers, distributors, customers, and all the entities in the value chain.. Read more about vechain price and let us know what you think.
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