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Vechain price analysis: Price curve deflates at $0.13 as downslide continues

Vechain price analysis Price curve deflates at as downslide continues

TL;DR Breakdown

  • Bears bring price down to $0.131.
  • Vechain price analysis favors the bears.
  • Support for cryptocurrency is at $0.126.

The latest Vechain price analysis is showing a downward trend for the day as a declining price movement is being reported. The cryptocurrency has been under bearish shadow for the past few weeks and the price has been dropping consistently. The price has leveled down to $0.131 in the last 24-hours as well because of the bearish pressure. A further downtrend is to be expected in the approaching week if the sellers remain persistent.

VET/USD 1-day price chart: Price descends to $0.131 after decreasing trend

The bears have been consistently leading the market for the past few weeks, as more selling momentum was recorded. The price has moved down to $0.131 after the recent bearish strike which has created unfavorable circumstances for the buyers. It is expected that the price might travel low in the next few days as the bearish momentum is intensifying. The moving average (MA) value in the one-day price chart stands at $0.155.

Vechain price analysis: Price curve deflates at $0.13 as downslide continues 1
VET/USD 1-day price chart. Source: TradingView

The Bollinger Bands average is now $0.152 in the one-day price chart. Whereas the upper Bollinger band is touching the $0.179 mark while the lower Bollinger band is touching the $0.125 mark. The Relative Strength Index (RSI) score dropped down to 40.80 during the day.

Vechain price analysis: VET value depreciates up to $0.131 mark

The four hours Vechain price analysis is showing signs of a downtrend as the price has decreased in the last few hours. The past four hours have proved crucial for cryptocurrency progress as another downward movement has been recorded. The price has dropped down to $0.131 and further downfall is to be expected during the upcoming hours. The moving average value is at a higher position as compared to the price i.e. $0.140.

Vechain price analysis: Price curve deflates at $0.13 as downslide continues 2
VET/USD 4-hours price chart. Source: TradingView

The SMA 50 curve is still traveling higher than the SMA 20 curve because of the constant downtrend. The upper Bollinger band value is now $0.168 whereas the lower Bollinger band value is $0.126. The RSI score has gone below the underbought limit and is now standing at 28.30.

Vechain price analysis: Price curve deflates at $0.13 as downslide continues 3
VET/USD technical indicators chart. Source: TradingView

The technical indicators chart for VET/USD is giving out a bearish signal as well as more selling momentum has been observed during the last couple of weeks. There are 13 indicators standing on the selling position, nine indicators are on the neutral mark and four indicators are on the buying position.

The Moving Averages Indicator is supporting the sellers by giving a bearish indication. There are 10 indicators that are on the selling level, four indicators are on the buying level while only one indicator is on the neutral level. The Oscillators are giving a selling signal with eight oscillators at the neutral point, three oscillators at the selling point, and zero oscillators at the buying point.

Vechain price analysis conclusion

The daily and hourly Vechain predictions are going in the favor of the bears as a drop in price has been observed in the last 24-hours. The cryptocurrency value is now $0.131, and further decline is to be anticipated. The four-hour Vechain price analysis is displaying similar results as a bearish trend has been recorded. The price dropped down to drastic levels in the last four hours, proposing that the next few hours might be critical.

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.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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