In this VeChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for VET-BTC. VeChain is a blockchain-based platform that focuses on supply chain management and inventory tracking. It utilizes smart contracts and RFID technology to provide end-to-end transparency and efficiency in logistics and manufacturing processes. With its robust infrastructure, VeChain aims to revolutionize the way businesses operate and enhance their bottom line.
VeChain Price Overview:
As of May 07, 2024, VeChain is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for VET-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.0 |
| High (H) | 0.0 |
| Low (L) | 0.0 |
| Close (C) | 0.0 |
| Volume (C) | 6,052,770.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
- High (H): VeChain reached a daily high of around 0.0 BTC.
- Low (L): The daily low for VET-BTC was approximately 0.0 BTC.
- Close (C): At the time of analysis, VeChain is trading near its daily close of 0.0 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.75% |
| 3D Change (%) | 0.00% |
| 7D Change (%) | -1.69% |
| 30D Change (%) | -4.92% |
| 90D Change (%) | -9.38% |
| YTD Change (%) | -29.27% |
Over the past three days, VETBTC has dropped by approximately 0.00%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -1.69%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with VETBTC maintaining a downward trend of approximately -4.92%, despite intermittent fluctuations. Examining the last 90 days, VETBTC has witnessed substantial drop of approximately -9.38%, reflecting strong long-term confidence. Year-to-date, VETBTC has steadily dropped by around -29.27%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
VeChain Live Chart:
You can access a live price chart for VET-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.3791.
- Momentum score is -0.07937.
VET BTC Technical Analysis
VeChain Trading Volume:
The trading volume for VeChain (VET) over the past 24 hours has been insignificant, with approximately 6,052,770.00 BTC traded against VET. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): VET is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): VeChain is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for VET-BTC is currently in the low zone, around 43.64999. This suggests that VeChain is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
VeChain (VET-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Follow potential bearish trend for VeChain (VETBTC) at 5.80e-07 BTC with technical analysis, indicating cautionary indicators and weakened support.
Unlock additional insights on VET USDT VeChain Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.