https://ift.tt/347uqva Price Analysis: VET/USD remains stuck at the $0.0500 mark

TL;DR Breakdown

• VeChain price analysis is bearish.
• The strongest resistance is present at $0.0926.
• Trading price of VeChain is $0.0498.

The VeChain price analysis shows that the price of VET/USD has maintained yesterdays’ movements with slight fluctuations, on January 24, 2022. The price has broken the support and entered a breakout at the $0.0500 mark after reaching $0.0498 today. The cost of VET has been down 4.05% in the last 24 hours, with a trading volume of $283,232,910.

VET/USD 4-hour price analysis: Latest developments

The VeChain price analysis has revealed market volatility following a massive closing movement which means the cryptocurrency’s price has become significantly less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be moving towards each other, indicating increasing volatility. The upper limit of the Bollinger’s band is present at $0.0664, which acts as a strong resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0439, representing the strongest support for VET.

The VET/USD price appears to be crossing under the Moving Average curve, signifying a bearish trend. Furthermore, the price path seems to be following a downwards direction towards the support. As the volatility declines, the chances of a reversal also decline.

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 30, representing a severely undervalued cryptocurrency; the value is present at the threshold and the entrance to the depreciation region. Furthermore, the RSI appears to be following a linear approach that reflects the value of the cryptocurrency remaining stable and the equivalence of selling and buying activity.

VeChain Price Analysis for 1-day: Volatility expands

The VeChain price analysis shows market volatility following an expanding 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 $0.0926, which acts as the strongest resistance for VET. On the other hand, the lower limit of the Bollinger’s band is available at $0.0515, representing another resistance point for VET rather than its support.

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 declining movement which has broken the support and given the bulls a fighting chance at last. Moreover, we can follow the market to be in a breakout indicating a potential reversal and a comeback for the bulls.

The VeChain price analysis reveals that the Relative Strength Index (RSI) is 23, which means that the cryptocurrency shows severe signs of being undervalued. VeChain falls in the undervalued region. The RSI appears to follow a precise movement that reflects a constant market. The buying activity equals the selling activity causing the RSI score to remain stable.

Vechain Price Analysis Conclusion

The VeChain price analysis concludes that the cryptocurrency shows bearish momentum with massive opportunities for a reversal. The price reached $0.0548 on January 23, 2022, just shying away from the 40.0550 mark. However, the price has struggled even for the $0.0500 mark now. The current price of VeChain is $0.0498. However, the VET market shows massive potential for a reversal movement to get VeChain back on track and raise its value.

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