- VeChain price analysis is bearish.
- The strongest resistance is present at $0.0900.
- Trading price of VeChain is $0.0531.
The VeChain price analysis shows that the price of VET/USD has followed a fluctuating trend in the last 48 hours, until January 26, 2022. After that, the price had shifted to a positive movement, increasing the price significantly, just barely shying away from the $0.0580 mark. On January 27, 2022, the cost of VET was down 5.13% in the last 24 hours, with a trading volume of $343,518,018.
VET/USD 4-hour price analysis: Latest developments
The VeChain price analysis has revealed market volatility following a slightly increasing movement, opening up the squeeze, which means the cryptocurrency’s price has become somewhat more vulnerable to volatile change on either of the extremes. The resistance and support bands appear to be moving away from each other, indicating increasing volatility. The upper limit of the Bollinger’s band is present at $0.0576, which acts as a strong resistance for VET. The lower limit of the Bollinger’s band limit is available at $0.0467, 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 an upwards direction towards the resistance, and the price might cross the moving average, changing the movement. However, as the volatility increases, the chances of a reversal also increase.
The VeChain price analysis reveals that the Relative Strength Index (RSI) is 46, representing a stable cryptocurrency; the value is present at the lower neutral region. Furthermore, the RSI appears to be following an upwards approach that reflects the value of the cryptocurrency increasing and the dominance of buying activity.
VeChain price analysis for 1-day: Bear domination
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 $0.0900, which acts as the strongest resistance for VET. On the other hand, the lower limit of the Bollinger’s band is available at $0.0458, 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 an upwards movement which may indicate bullish momentum at last. Moreover, the price is gaining momentum and moving towards a stable position to anchor itself. However, the bears have reasonable control over the market as they are not letting go even though the bulls have gained tremendous momentum.
The VeChain price analysis reveals that the Relative Strength Index (RSI) is 27, which means that the cryptocurrency shows severe signs of being undervalued. VeChain falls in the undervalued region. The RSI appears to follow a precise, linear movement that reflects an undervalued market. The buying activity equals 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 massive bullish opportunities. The price reached $0.0580 on January 26, 2022. However, the price is currently struggling to get the $0.0540 mark. The current price of VeChain is $0.0531. The battle between the bulls and bears seems to have come to a standstill as the bears, being tired and weary, still do not let the bulls have their way with the market.
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