Today we will see how the price of VeChain has traded in the last 24 hours and a few weeks. Currentl, the coin has been moving between $0.0060 and $ 0.0080. For the short-term outlook, the price of VeChain is expected to see gains. But can it reach $0.00095 in the short-term? It is understood that if there’s a bullish breakout when the coin reaches $0.0080, we will likely see the price of VeChain rally above the much-coveted $0.00095 level in the short-term.
On the other hand, if there’s a bearish break, the price of VeChain could depreciate to $0.0040 which is a low acting as support. What happened to Vechain? Can the token make it back up?
Vechain Thor Price Prediction: The Price of VeChain is Ranging in the Medium-term Outlook
The price of VeChain saw resistances at $0.0085, $0.0090, and $0.0095. It also found support at $0.0070, $0.0065, and $0.0060. As at June 3, the price of VeChain was trading in bearish territory. The crypto’s price had begun retracing after it managed to test upper price positions. Since April of this year, the price of VeChain has not traded over the $0.0080 position. The price of VeChain is trading between $0.0060 and $0.0080. As of April, this year, the bulls had tested $0.0080 where they faced some resistance.
And in May of this year, the bulls also tested the $0.0080 level but faced some resistance. On May 27, the VET market fell under the 12 and the 26-day EMA. In the lower price area, the bears couldn’t break under, because of the support level was solid.
Off course traders can carry out any activity in a ranging coin and await the outcome of a breakout or breakdown in the price of an asset. Nevertheless, in the event that there’s a bullish break at $0.0080, we will expect to see the coin rally above $0.00095. Conversely, if there is a bearish break, we can expect the value of the coin to depreciate further to the $0.0040 support position. The price of VeChain is currently in the oversold region via the daily stochastic and over the 20% area.
This action is an indication that the price of VeChain is in bullish territory and there’s a buy signal.
Vechain Thor Price Prediction: The Price of VeChain is Ranging in the Short-term Outlook
Looking at the 1-hour chart, the price of VeChain is trading sideways. The 12 and 26-day EMAs are trending horizontally which indicates that prices are in a sideways pattern. The price VET is in choppy action. The support position and resistance levels are not discernible as of press time. The crypto’s price remains in the overbought region and above the 60% range in the daily stochastic. This indicates that the price of VeChain is in bullish territory and there’s a buy signal.
What Happened to Vechain? The Price of VeChain is Trading at $0.0071 at Press Time
According to data given by coin market cap, the price of VeChain is trading at $0.0071. The digital asset is down by -7.11% in the last 24 hours. It reportedly has a total market capitalization of $395.17 million- and 24-hour trade volume of $7.96 million. Despite the drop in the 24 hour activity of VET, a rally is possible in the short-term which may take the price of VeChain to $0.00095.