Summary of the situation

  • PET peaks at $0.265.
  • Some support is seen at $0.21.
  • Additional support is provided by the uptrend line.

Today the outlook for Vechin prices is bearish, as the market has failed to break back through the $0.27 level. Therefore, we expect a further push down in the next 24 hours, with the next support around $0.22, as a rising support line is currently visible around this price area.

Crypto-currency heatmap. Source : coin360

Vechain price prediction: Vechain fails to reach $0.27 resistance, set to move lower today 

The cryptocurrency market has continued to decline over the past 24 hours. Bitcoin is trading at a 3% loss now that it has broken through the $55,000 mark. Meanwhile, Ethereum is up 2%, and bearish sentiment has taken over in recent hours. The financial currency is one of the few currencies that have grown well, rising about 6%.

VET/USD opened at $0.25 after closing higher yesterday. Since VET/USD failed to establish a high above $0.27, we can expect another correction today. The first support is visible on the uptrend line in a few days. From there, the next horizontal support lies at the current high around $0.21.

Vetch price changes in the last 24 hours

The VET/USD exchange rate moved within a range of $0.2296 to $0.2656, indicating moderate volatility. 24-hour trading volume fell 27.69% to $2.57 billion. The total market size is 14.8 billion, putting cryptocurrencies in 13th place.

VET/USD 4-hour chart – The VET is heading for a new test of theuptrend support line.

On the 4-hour chart we can see that the VET/USD is rejecting any further upward movement and is setting up a pin-bar candle. Vechain’s price action has since moved lower as it appears to have established a new higher low.

VET/USD 4 hour chart. Source: TradingView

Vechain price prediction: Vechain fails to reach $0.27 resistance, set to move lower today 

Overall, WeChain performed well last week. After a strong support around $0.085, the market rose by more than 200% until April 17, when a new historic high of $0.28 was reached.

From there, WeChain pulled back on Sunday and climbed to $0.17, making another low high. In the following days the evening price moved in an increasingly narrow range, with lower highs and higher lows. Therefore, we expect the market to retest the rising support line and form a new higher low in the coming hours.

Until a low or a high is reached, the overall trend remains neutral over several days. Still, we expect further declines in the coming hours. If the current low at $0.21 is broken, LINK should begin a much firmer multi-day correction towards the previous support level.

However, if VET manages to break above the $0.27 level, the bullish momentum could persist for several weeks into next month. Therefore, for now, it is best to wait for further price action from Wechain to eventually break above the $0.27 level.

Price forecast for veal: Supplement

The outlook for Veche prices is bearish, as the market failed to rise overnight and is currently hoping to reach a new bottom. If the uptrend support line is not broken, we should see VET trading in an increasingly narrow range until a breakout on either side is seen later this week.

While we wait for further developments in Wechain price action, read our guide to ETH gas prices. To learn more about other popular crypto-currencies, check out our long-term price predictions for Stellar and Polkadot.

Denial. The information provided does not constitute commercial advice. .com is not responsible for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.

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