- VeChain lost 7% overnight and touched $0.0034
- VET might soon breach its key resistance $0.0037
VeChain registered 7.034% loss over the last 24 hours and the value against the US Dollar has now fallen to $0.0034. The currency has been through three major swings over the last 24 hours and it traded between $0.0036 and $0.0033.
VET Price Analysis:
The first variation of VET/USD started at 00:07 UTC and over the next 8 hours, it went as low as 0.00347041 USD. It was followed by a hike of 2.92% by 16:02 UTC. This swing added 0.0001 USD and placed the value at 0.00357161 USD. However, the value could not be kept at this level for very long. It soon fell to 0.00334385 USD after a 6.37% deduction by 00:29 UTC today.
VeChain has seen huge price fluctuations over the last seven days. The highest point for VET was 0.0038 USD on October 10 and from there VET started showing volatility. The current value seems to have recorded the lowest in the week until now.
VET’s current price trend is at 0.00342671 USD and its 50-day moving average is now at 0.00385139 USD. The current trend is 11.02% lower than the 50-day average. Similarly, it is 2.29% lower than its 20-day moving average that is now at 0.0035071 USD. The next resistance for VET is likely to come at 0.0037 USD.
Resistance and Support Levels-
R1-$0.0035, R2- $0.0037, R3- $0.0038
S1- $0.0033, S2- $0.0033, S3- $0.0031