Vechain Price Analysis: VET/USD struggles for $0.079
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TL;DR Breakdown
- Vechain price analysis is bullish today.
- The strongest resistance is present at $0.0934.
- The strongest support is present at $0.07602.
The Vechain price analysis shows that the price of VET/USD has suffered devaluation over the past few days. The price had almost reached the $0.0800 mark after reaching $0.0793 on January 14, 2022, followed by the cryptocurrency suffering decline on the same day, which further brought the price of VET down to $0.0782. The price stabilized for a while and fluctuated at the $0.0780 mark. The currency price for VET/USD is $0.0780
VET/USD 4-hour price analysis: Recent Developments
The Vechain price analysis has revealed market volatility following a declining movement which means the cryptocurrency’s price is becoming less vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be closing the gap between them, indicating decreasing volatility and the possibility of a squeeze. The upper limit of the Bollinger’s band is present at $0.0824, which acts as the strongest resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0760, representing the strongest support for VET.
The VET/USD price appears to be crossing under the Moving Average curve, signifying a bearish trend. However, the price path seems to be moving downwards, indicating that the direction will shift for good.
The Vechain price analysis reveals that the Relative Strength Index (RSI) is 48, which puts the cryptocurrency on neither extreme; the value falls in the lower neutral zone. The bears currently dominate the market. The RSI appears to be following a downwards approach that reflects the value of the cryptocurrency slowly declining in its value. The RSI score decreases because the selling activity surpasses the buying activity.
Vechain Price Analysis for 1-day: Market enters a squeeze
The Vechain price analysis shows market volatility following a slightly decreasing trend. This means that VET/USD prices subject to fluctuations will fluctuate in the same direction the volatility does; less volatility means less vulnerability to change. The upper limit of the Bollinger’s band exists at $0.0934, which acts as the strongest resistance for VET. Conversely, the lower limit of the Bollinger’s band is available at $0.0711, representing the strongest support for VET.
The support and resistance bands appear to be near each other, indicating a tight market, which signifies a squeeze. The market seems to be slightly shrinking further. It seems the squeeze is getting tighter.
The VET/USD price appears to be crossing over the Moving Average curve, indicating a bullish trend. Furthermore, the price path can be observed to be following a linear movement, which will maintain the bullish trend.
The Vechain price analysis reveals that the Relative Strength Index (RSI) is 43, which means that the cryptocurrency shows no signs of being undervalued. Vechain fall in the lower neutral zone. The RSI appears to be following a downwards movement that reflects a declining market trend and movement towards devaluation. The selling activity outweighing the buying activity causes a decline in the RSI score.
Vechain Price Analysis Conclusion
The Vechain price analysis concludes that the cryptocurrency shows bullish momentum with strong bearish opportunities. The price reached $0.0831 on January 13, 2022; however, the price has been struggling even for the $0.0780 mark now. The price has been fluctuating. The current price of Vechain is $0.0780. The analysis has shown us that Vechain will soon experience a complete reversal, and the bears will control the market.
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.
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