VeChain price analysis is bearish today. The cryptocurrency is trading below the $0.040 level and it is facing strong resistance at $0.061. VET currently trades at $0.032 and it is likely to continue its downtrend in the near-term.
The VeChain price is down by more than 3% today and it is currently trading below the $0.040 level. The cryptocurrency has been struggling to sustain its momentum above the $0.050 level and it is facing strong resistance at $0.061. VET is likely to continue its downtrend in the near term as the bulls fail to gain traction above the $0.040 level.
The RSI on the daily time frame is trending lower and it has just reached the oversold region. The MACD indicator is also bearish on the daily time frame as the cryptocurrency remains at a risk of further losses.
The VeChain price is down by more than 3% today and it is currently trading below the $0.040 level. The cryptocurrency has been struggling to sustain its momentum above the $0.050 level and it is facing strong resistance at $0.061. VET is likely to continue its downtrend in the near-term as the bulls fail to gain traction above the $0.040 level.
VET/USD 4-hour price analysis: Latest developments
The VeChain price analysis on the 4-hour time frame is bearish as the cryptocurrency trades below the $0.040 level.
VET/USD 4-hour price chart source: TradingView
The RSI indicator on the 4-hour time frame is trending lower and it has just reached the oversold region. The MACD indicator on the 4-hour time frame is bearish as well.
VeChain price analysis for 1-day: Market moves downward
The VeChain price analysis shows market volatility is on the rise for 1-day as the cryptocurrency trades below the $0.040 level.
VET/USD 1-day price chart source: TradingView
The VeChain price analysis et currently trades at $0.032 and it is likely to continue its downtrend in the near-term. The RSI on the daily time frame is trending lower and it has just reached the oversold region. The MACD indicator is also bearish on the daily time frame as the cryptocurrency remains at a risk of further losses.
The VeChain price analysis on the 1-hour time frame is bearish as the cryptocurrency trades below the $0.040 level. The RSI indicator on the 1-hour time frame is trending lower and it has just reached the oversold region.
VeChain Price Analysis Conclusion
The VeChain price analysis concludes that the cryptocurrency displays bearish momentum with room for more bearish possibilities. On May 11, 2022, the price dropped to $0.032 and has remained stuck at $0.033 since then. The current value of VeChain is $0.032. It appears that the bulls have lost all control over the direction of the market as the price is currently testing new lows. The market is expected to remain bearish in the short term as the bears continue to push prices lower. In the long-term, however, the market looks promising as the bulls are slowly gaining control over the market.
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Source: https://www.cryptopolitan.com/vechain-price-analysis-2022-05-12/