Over the last 30 days, VeChain price was reflecting upside momentum with moderate volatility. During the last week of March, the coin was trading around $0.0030 price mark and continued to trade upwards. On April 07, it marked a tremendous spike and crossed $0.0042 mark but immediately fell below $0.0039. After that, the VET coin price traded under the range of $0.0035 – $0.0040.
The price chart given below is giving mixed indications. Over the last 24 hours, the currency turns bearish as it faced a sudden price drop. The coin might be seen trading moderately in the upcoming hours. The sluggish movement is most likely to embark in the future.
VeChain Price Analysis
Yesterday, VeChain price spotted at $0.00391 during the opening hour of the day, and then, it escalated to $0.00402 by 2.71% hike at 02:55 UTC. Later, the coin traded moderately till 10:00 UTC, and then, it dropped to $0.00373 from $0.00401. After this steep fall, the VET price recovered over the next 3 hours, and at 15:10 UTC, the coin touched $0.00390. However, due to immense pressure, the currency plunged again, and this time, it dropped to $0.00359 by 7.82% fall.
Further, VeChain price marked a slight recovery and touched $0.00372 at 23:00 UTC. The day closed at $0.00363 with an intraday regression of 7.57%.
Today, the coin started trading with sluggishness and remained at the same level until the next 4 hours. At 04:25 UTC, the VET coin reflected 4.35% growth in the price, and it reached to $0.00378 from $0.00362. later, the coin hovered around the same level for some time and then dropped to $0.00371.
Technicals
The faster SMAs, namely, 20 day & 50 day are at $0.00372 & $0.00373, respectively. Both lines reflect a bearish crossover. The MACD indicator reflects a bullish signal as the MACD line has recently overlapped the signal line.
As per the VET price prediction for this year and the current price trend, the coin might correct downwards and test its crucial support at $0.0035.
