VeChain Price Prediction: Will VET Crypto Bounce Back Now?

• 1 VeChain price prediction showcases the struggle of VET crypto at the lowest level.
• 2 VET crypto has slipped below 20, 50, 100 and 200-days daily moving averages.
• 3 VeChain crypto price has slipped around 5.20% year to date.

VeChain price prediction showcases the decline of VET crypto towards the demand zone over the daily time frame chart. Meanwhile, sellers are currently trying to pull VET crypto below the demand zone. However, buyers need to come forward to the rescue of VET cryptocurrency. VET crypto price has been falling since July 2023 from the $0.01974408 level.

VET crypto must accumulate buyers in order to skip the declining streak in the demand zone. However, volume change is below average and needs to grow in favor of buyers intraday. Investors in Vechain cryptocurrency need to wait for any directional change over the daily time frame chart.

VeChain price was at $0.01491200 and has lost 2.07% of its market capitalization during the day’s trading session. However, trading volume has increased by 16.51% during the intraday trading session. This demonstrates that buyers are trying to accumulate for the rescue of VET crypto. Volume to market cap ratio was at 2.15%.

Will VeChain Price Return From Here?

Source: VET/USD by TradingView

VeChain price prediction suggests VET could fall in the demand zone. VET crypto has slipped below 20, 50, 100 and 200-days daily moving averages.

VeChain price has experienced a 4.02% decrease over the past week and a 17.37% decline in the last month. Furthermore, VET cryptocurrency has seen a 6.28% drop in the past three months and a 37.85% decrease in the past six months. Year to date, VET has declined by approximately 5.60%.

Technical indicators suggest the oversold state of VeChain cryptocurrency. Relative strength index confirms that VET crypto is being oversold. Moving average convergence divergence also confirms the fall of VET.

RSI was at 31 and is about to enter the oversold zone. The MACD line is crossing the signal line downwards, registering a negative crossover. Investors in VeChain cryptocurrency need to wait for any directional change over the daily time frame chart.

Summary

VeChain price prediction showcases the decline of VET crypto towards the demand zone over the daily time frame chart. VET crypto must accumulate buyers in order to skip the declining streak in the demand zone. VeChain crypto has experienced a 4.02% decrease over the past week and a 17.37% decline in the last month. Technical indicators suggest the oversold state of VeChain cryptocurrency. Investors in VeChain cryptocurrency need to wait for any directional change over the daily time frame chart.

Technical Levels

• Support Levels: $0.01453140 and $0.01357712
• Resistance Levels: $0.01541694 and $0.01604287

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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