VeChain (VET) Records 16.71% Decline Overnight
The crypto market experienced a heavy plunge a few days back. The improvement in the coin was quite evident, and thus, the traders were spotted eyeing for a higher level. The last two days were moderate for VET coin.
VeChain coin was spotted improving at a slow pace and anticipated to work on its momentum in a short while. Today, the currency opened with a moderate bearishness and exhibited a mild upsurge too. However, recently, the price is spotted dropping tremendously. The downtrend might stick around, and the intraday traders have to bear the loss.
VeChain Price Dips 20%, Faces Key Support at $0.00206
CoinNewsSpanVeChain price was trading at $0.002577 during the opening hour of the day. The price spiked at $0.00260, and in the next few minutes, the coin was at $0.00248. After that, VET price escalated to $0.00262 at 08:45 UTC but soon dropped to $0.00250. At 12:16 UTC, the price escalated to $0.00277, but couldn’t hold itself at the same level and slipped to $0.00251 in the next 2 hours.
The currency was spotted, locking itself around the same level till 21:00 UTC. Later, the price of VeChain improved to $0.00280 by a massive hike of almost 15% and marked it as the intraday high. The closing hours consisted of pullback pressure, and thus, the price dropped to $0.00241 and ended the day. The intraday movement of the VET coin exhibited a 6.58% regression.
Today, VeChain currency started the day at $0.00241, and within the first two hours, the price was spotted at $0.00256. In the subsequent hours, the currency dribbled to $0.00202 by a massive decline of 20.86%. At the time of writing, the VET price was at $0.00214. MACD indicator reflects bullish divergence. As per the current movement, the major support level at $0.00206 would be violated in the next couple of hours. The improvement in the coin might take some time to strike.
Resistance & Support Levels
R1: $0.002725, R2: $0.002919 and R3: $0.003055
S1: $0.002395, S2: $0.002259 and S3: $0.002065
