VeChain continues bearish on short-term charts. Vechain is ready to move to new targets.
VET Technical Analysis: Vechain has fallen once again; Here are the new targets!
After the close yesterday with a slight decrease, the VET/USD pair. May 23 opened at $ 0.0995 gini. Since then, the downward momentum has pushed the market further down.. The bears are looking to retest the previous low of $0.05.
Vechain VET coin price spent the last 24 hours in the $0.0771-0.1119 range. In this process, VET coin trade volume decreased by 40%, and a total of 1.3 billion dollars was recorded.. Vechain is currently 22 with a market cap of $5 billion.. keeps its place.
VET chart says retest
VET/ USD 4-hour chart – moving to retest $0.05 low .
On the 4-hour chart, we can see that the market has moved lower in the last hours as the bearish momentum recaptures.
The crypto market is generally in a downtrend as of now.. In this regard, Vechain price also follows the market..
The previous local low of $0.09 per night was retested and broken, suggesting bears are still in control. Therefore, we can see VET/USD break below the current major surge of $0.05.
Related – What is Vechain (VET) Coin, where and how to buy it , does it have a future?
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VeChain technical analysis: VET price situation is critical!
VeChain price formed an ascending channel pattern after the low it saw on April 23. This gives a few indications about the direction of the cryptocurrency.. It seems that unless a definite direction for the exit from the channel is determined, the traders will continue their horizontal course.. But overall the signs of direction are down.
Without a doubt, the VET price had one of the leading performances in the cryptocurrency industry in 2021.. But in mid-April it took a hit and ultimately corrected itself.. Since then, VeChain price is far from a direction confirming movement.
Although the intraday drop in the last 24 hours is remarkable, it could not fall below the $0.181 level of May 5th.. Thus, while the “higher low” movements remain intact, VET also exhibits a small uptrend.
The daily close below the lower trendline of the channel at $0.194 will be the first clear sign of the upcoming price since April 23.. If there is trading below the May 5 low after this close, it can be considered a small trend change sign.. Ultimately, we could see a quick test of the 100 simple moving average at $0.159 on the 12-hour chart.
If VeChain price trades below the $0.128 low of April 23, this will signal a more serious trend change.. This time, traders should prepare for a deeper correction to the 38.2% Fibonacci retracement level at $0.108.. A broad selling wave could force VeChain price to test the 50% Fib at $0.081.
VET/USD 12 hour chart
Of course, if VeChain price closes daily above the upper trend line of the channel and the April 16 peak at $0.278, it will invalidate the bear situation.
Meanwhile, data from 1000 crypto money-related groups and channels on social media sites According to traders, VeChain daily social media volume is at the lowest levels. The low content of VET passing here indicates that despite the small uptrend, VET is not on the radar of individual investors.
The level of VET content on social media
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What is VeChain 2021 price prediction?
As KoinMedya, we claim that VeChain will see $0.11 in 2021.
What is VeChain 2022 price prediction?
As KoinMedya, we think VeChain will reach $0.20 by the end of 2023.
What is VeChain 2023-2025 price prediction?
Vechain can reach up to $1 in the next 5 years with the impact of mass adoption of cryptocurrencies.
Vechain price prediction table by years
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