- VeChain price analysis is berish today.
- The strongest resistance is present at $0.0866.
- Trading price of VeChain is $0.0514.
The VeChain price analysis shows that the price of VET/USD has followed a downwards trend in the last 24 hours. The price has shifted towards an antagonistic movement, decreasing significantly, dropping from the $0.0560 mark. On January 31, 2022, the cost of VET was down 7.37% in the last 24 hours, with a trading volume of $179,749,204. Ranking #37 in the cryptocurrency ranking with a live market capital of $3,284,299,749 and a circulating supply of 64,315,576,989 VET coins.
VET/USD 4-hour price analysis: Latest developments
The VeChain price analysis has revealed market volatility showing dormant dynamics, making the market consistency a priority, which means the cryptocurrency’s price will remain constant until the volatility starts to fluctuate on either extreme. The resistance and support bands appear to have closed the gap, resulting in the market entering a squeeze, hence lower volatility. The upper limit of the Bollinger’s band is present at $0.0557, which acts as a strong resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0509, representing the strongest support for VET.
The VET/USD price seems to be crossing under the Moving Average curve, indicating a bearish trend. Furthermore, the price path appears to be following a downwards direction towards the support. Finally, the price might break the support, resulting in a breakout that may cause exploding volatility in the future, which shows signs and opportunities for a reversal. However, as the volatility decreases, the market’s current trend will be preserved.
The VeChain price analysis reveals that the Relative Strength Index (RSI) is 41, representing a stable cryptocurrency; the value is present in the lower neutral region. Furthermore, the RSI appears to be following a linear approach that reflects the value of the cryptocurrency remaining stable and the equivalence of buying and selling activity. However, if the RSI remains constant, it may indicate stability in the VeChain market.
VeChain price analysis for 1-day: Market favors the bears
The VeChain price analysis shows market volatility following an increasing direction. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction as volatility; more volatility means more probability of the price shifting to either extreme. The upper limit of the Bollinger’s band exists at $0.0866, which acts as the strongest resistance for VET. On the other hand, the lower limit of the Bollinger’s band is available at $0.0401, representing the strongest support for VET.
The VET/USD price seems to be crossing under the Moving Average curve, indicating a bearish trend. Furthermore, we can observe the price path following a linear movement which may indicate a reversal as the Moving Average seems to move in a negative direction.
The VeChain price analysis reveals that the Relative Strength Index (RSI) is 28, which means that the cryptocurrency shows severe signs of being undervalued. VeChain falls below the undervalued threshold. The RSI follows a linear movement that reflects an undervalued market. The buying activity has equaled the selling activity causing the RSI score to remain constant.
Vechain Price Analysis Conclusion
The VeChain price analysis concludes that the cryptocurrency shows bearish momentum with slight bullish opportunities. The price has dropped to $0.0514 on January 31, 2022, and is currently stuck at the $0.0515 mark. The current price of VeChain is $0.0514. It seems the bears have reclaimed control of the market, which may cause a further devaluation of the market.
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