Vechain has been trending lower over the last month as we have mentioned in previous articles. One could argue Vechain has been trending lower since the end of May when the market was in a bull run. We have been expecting a bounce higher from Vechain but it doesn’t appear as though this is going to happen anytime soon.
While the cryptocurrency markets have had a rough start to the month of July, it appears that VeChain (VEN) is not having any issues-at least, for now. Throughout the past 24 hours, the Vechain price has spiked lower once again, and it seems the $0.05 mark will be hit once again, given the current market conditions. This has led to speculations regarding the future of the world’s 20th ranked cryptocurrency, as some gains are being noted.
As the crypto market continues to recover from its latest slump, VeChain holders will be wondering where their token is heading next. The VeChain price has been on a downward trend for the majority of Q2, and many of those holding VEN have been hit hard by this bear market. This latest VeChain price drop has seen the VEN price slide to $0.0508. This is a stark contrast from the all-time high of $0.25 that VeChain touched back in January 2018.. Read more about vechain news and let us know what you think.Summary of the situation
- VET is consolidating around the $0.10 level overnight.
- Bears have pushed the TEV lower in the last few hours.
- The next support is around $0.05-$0.06.
The price outlook for Vechain is bearish today, as the market continues to fall after consolidating around $0.10 last night. Therefore, we expect the ETV/USD to test the previous low around $0.05 – $0.06 in the last 24 hours. Heatmap for crypto-currencies. Source: Coin360 The general market has moved into negative territory over the past 24 hours. Bitcoin lost more than 13 percent and Ethereum lost 22 percent. Cardano and Ripple are among the worst performers with losses of 25-28%. VET/USD opened at $0.0995 after a slightly bearish close yesterday. Since then, new bearish momentum has pushed the market even lower as bears attempt to retest the previous low of $0.05.
Price changes in Vechan in the last 24 hours
The price of the ETV/USD has been trading in a range of $0.0771 – $0.1119 for the past 24 hours. Trading volume fell 40% to $1.3 billion. At the same time, the total market value is $5 billion, which puts the cryptocurrency in 22nd place overall.
4-hour chart VET/USD – heading for a retest of the $0.05 low
On the 4-hour chart, we can see that the market has fallen in the last few hours as bearish momentum has resumed. 4 hour chart of VET/USD. Source: TradingView VeChain’s overall share price has continued to fall in recent weeks. After failing to reach the previous all-time high of $0.28 in early May, TEV/USD peaked around $0.25 and established a significant low. From that point the market lost almost 80% until support was found around $0.05 – $0.06. On Thursday, VeChain’s share price recovered some from its losses and retested the $0.14 level as resistance. In the days that followed, the ETV/USD fell again, dropping below the local low of about $0.09. Currently, the ETV/USD continues to move lower, sketching support at $0.05. If VET/USD falls back to this support, we expect the market to reverse next week. Alternatively, VET will continue to fall to the $0.04 level.
Vechain price forecast: Supplement
The price outlook for Vechain is bearish as the market has continued to decline over the past few hours. The previous local low of $0.09 was retested and broken, suggesting that the bears are maintaining control. Thus, we could see the ETV/USD break below the current key low of $0.05. In anticipation of further price movements of VeChain, read our guide to other major altcoins – Zcash, Litecoin, Ethereum. 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.As Vechain continues its bearish momentum, many traders are starting to wonder how much lower the token will go. (However, VET has been quite resilient in the past couple of months, meaning that there could be a chance for a recovery.) Before it can begin to rise again though, Vechain will likely have to break below $0.05, which will likely happen once the market begins to recover. The first paragraph is the basis for the introduction of a writing sample. The personal statement is similar to an introduction in the sense that it is the first paragraph of the writing sample. The personal statement is considered the introductory paragraph of an essay used to present the writer’s purpose. It is an informal letter of. Read more about vechain reddit 2021 and let us know what you think.
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