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VeChain price analysis: Bearish momentum pulls price back to $0.11

Cryptopolitan


TL;DR Breakdown

  • The latest VeChain price anaylsis charts are showing decrease in price.
  • The 1-day chart shows better results as compared to the 4-hours chart.
  • Support level is still there just below the price at $0.11.

The VeChain price analysis is showing a slight decrease in the price today. The bears have taken the lead again, as the bulls interrupted their slope for a short period of time.

The volatility is lowering on the 1-day chart which might turn the trend but if bears succeed in heightening the volatility then the bearish momentum can be expected to grow even more, and the price can go lower than its current level which is $0.11. The past hours have been highly successful for the bears, and the latest update shows no difference.

VET/USD 1-day price chart: Price churning takes VET to $0.11

The 1-day VET/USD price chart is showing a chance for bulls to move ahead and secure a higher position on the chart. The bearish momentum has been continually at the lead in the past few days, but today the cryptocurrency is going supportive for the bulls.

The price levels are gradually increasing, but the momentum is not strong enough yet to cross $0.11. The moving average (MA) in the 1-day chart is $0.13, which is way above the price value because of the bearish lead in the previous week.

VET/USD 1-day price chart. Source: TradingView

Further digging in the VeChain price analysis the volatility is decreasing which is a positive indication, whereas the upper Bollinger band has lowered to $0.14 and the lower Bollinger band has heightened up to $0.10. The Relative Strength Index (RSI) score is also towards a rise and is currently displaying the score at 53.

VeChain price analysis: Bears disrupt bullish move to reach $0.11

The 4-hours VeChain price analysis chart showing cryptocurrency values is going bearish today. The bulls have been leading the charts in the past few hours, yet the bears have been able to take the charge once again.

The price has decreased to $0.117, which is just below the moving average which is $0.12. The volatility is decreasing for the price chart, and the trending line is in the favor of the bears as well.

VeChain price analysis: Bearish momentum pulls price back to $0.11 2
VET/USD 4-hours price chart. Source: TradingView

The Bollinger bands stand very significant in informing about the latest trends, and their values are as such; the upper band is present at $0.14 and the lower band is present at $0.11, respectively. The RSI score is on the decreasing side as well and has lowered to the score of 41.48.

VeChain price analysis: Bearish momentum pulls price back to $0.11 3
VET/USD technical indicators chart. Source: TradingView

The most recent updates are showing bullish signs, with the bulls making efforts to break past the continual bearish pressure. The VET/USD technical indicators chart is also showing positive signs for the buyers, as there are 10 indicators on the buying side, six on the selling, and 10 on the neutral side.

The Moving Averages indicator is also going bullish and informing us that the general trend for the day has been bullish. It is showing a buying signal, with nine indicators at the buying position, five at the selling, and only one at the neutral position.

As both the competitors have played fiercely, so the Oscillators are showing neutral signs, with nine oscillators at the neutral position, and one oscillator each at the selling and buying positions, respectively.

VeChain price analysis conclusion

From the above 1-day and 4-hours VeChain price analysis, it can be inferred that the latest trend for cryptocurrency has been slightly bearish. The price levels have dropped down to $0.12 according to the analysis and are expected to fall even more.

If the support level at $0.11 remains to be maintained, then the bulls have a chance to make a comeback. But if the bears keep taking the price lower, then a new low can be expected beyond the support level.

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.



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