In this VeChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for VET-USDT. VeChain (VET) is a blockchain-based platform that focuses on supply chain management and IoT integration. Its mainnet was launched in June 2018, and it has since gained significant traction in the industry due to its innovative use of smart contracts and distributed ledger technology. VeChain’s goal is to create a more efficient and transparent supply chain ecosystem, which can be beneficial for both businesses and consumers alike.
VeChain Price Overview:
As of September 22, 2023, VeChain is trading at approximately 0.01715 USDT. Let’s dive into the detailed price action for VET-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.01711 |
| High (H) | 0.01723 |
| Low (L) | 0.01695 |
| Close (C) | 0.01715 |
| Volume (C) | 122,909,524.30 |
- Open (O): The opening price for today’s trading session was approximately 0.01711 USDT.
- High (H): VeChain reached a daily high of around 0.01723 USDT.
- Low (L): The daily low for VET-USDT was approximately 0.01695 USDT.
- Close (C): At the time of analysis, VeChain is trading near its daily close of 0.01715 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.23% |
| 3D Change (%) | -3.00% |
| 7D Change (%) | -4.03% |
| 30D Change (%) | 5.02% |
| 90D Change (%) | -5.35% |
| YTD Change (%) | 8.54% |
Over the past three days, VETUSDT has fallen by approximately -3.00%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.03%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with VETUSDT maintaining an upward trend of approximately 5.02%, despite intermittent fluctuations. Examining the last 90 days, VETUSDT has witnessed substantial decrease of approximately -5.35%, reflecting strong long-term confidence. Year-to-date, VETUSDT has steadily appreciated by around 8.54%, 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-USDT 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 0.47008.
- Momentum score is 0.05021.
VET USDT Technical Analysis
VeChain Trading Volume:
The trading volume for VeChain (VET) over the past 24 hours has been insignificant, with approximately 122,909,524.30 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): VeChain is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for VET-USDT is currently in the neutral zone, around 50.69717. This suggests that VeChain is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
VeChain (VET-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
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.
