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VeChain price analysis: VET/USD set to dip further today

Vechain price analysis

TL;DR Breakdown

  • VeChain price analysis reveals a bearish market today.
  • The overall cryptocurrency market has bearish sentiments
  • Further decrease in the price is expected.

The VeChain price analysis shows that VET has been experiencing a downtrend today, with the overall cryptocurrency market sentiment being bearish. The VET/USD pair opened at $4.14 on January 10 and has since fallen to $3.75 at writing. This shows a price decline of 10.5% in a little over 24 hours.

The cryptocurrency market as a whole is experiencing a bearish sentiment, with prices dropping across the board. The VET/BTC pair has also followed VeChain’s downward trend, falling from 0.00055 BTC to 0.00049 BTC in the same period.

The VET price will likely continue to fall in the coming days as the overall cryptocurrency market sentiment remains bearish. VeChain appears to be following the trend of other major cryptocurrencies, and a further price decline can be expected.

VeChain price movement in the last 24 hours: Bears takes full control of the market

The cryptocurrency market’s volatility means that predicting future prices is a difficult task. However, it is clear that the VET price is downward and that the overall market sentiment is bearish. A further price decline can be expected in the coming days as the market fluctuates.

VeChain price analysis: VET/USD set to dip further today 1
VeChain 1-day Price Chart by TradingView

The VeChain price (VET) has been experiencing a downtrend today, with the overall cryptocurrency market sentiment being bearish. The VET/USD pair opened at $4.14 on January 10 and has since fallen to $3.75 at writing. This shows a price decline of 10.5% in a little over 24 hours.

VeChain price analysis 4-hour chart: Can VET/USD achieve stability in the next few hours?

The VeChain price (VET) is currently downtrend on the 4-hour chart. The VET/USD pair opened at $4.07 and has since fallen to the current price of $3.75. This shows a price decline of 7.5% in the last 4 hours.

VeChain price analysis: VET/USD set to dip further today 2
VeChain 4-hour Price Chart by TradingView

The RSI is currently at 37, indicating that the market is oversold. The MACD is also in negative territory and is slowly making its way to the zero line. The 100 EMA is also below the 200 EMA, indicating that the bears control the market.

The downtrend will likely continue in the next few hours as the overall cryptocurrency market sentiment remains bearish. VeChain price may find some stability in the short-term, but a further price decline is expected in the coming days.

The VeChain price (VET) is currently downtrend on the 4-hour chart. The VET/USD pair opened at $4.07 and has since fallen to the current price of $3.75. This shows a price decline of 7.5% in the last 4 hours.

VeChain price analysis: conclusion

The bulls are attempting to provide stability to the market at this time. However, to do so, greater momentum will be required. The bears have a stranglehold on the market; therefore, a more severe drop is expected in the following hours. It’s hard to tell whether or not the bears will run out of steam downtrend likely to continue in the next few hours as market sentiment remains bearish.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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