VET USDT VeChain Technical Analysis

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By Frans van Elst

VeChain logo In this VeChain technical analysis, we will examine the current price action, trading volume, key levels and indicators for VET-USDT. VeChain is a blockchain-based platform that focuses on supply chain management and inventory tracking. It utilizes smart contracts to facilitate secure and transparent transactions between parties, improving the efficiency of logistics and supply chain operations. With its unique features and applications, VeChain has gained significant attention in various industries, including retail, healthcare, and automotive.

VeChain Price Overview:

As of May 11, 2024, VeChain is trading at approximately 0.03489 USDT. Let’s dive into the detailed price action for VET-USDT:

Receive signals of caution for potential VeChain (VETUSDT) downturns at 3.49e-02 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Metric Value
Open (O) 0.03464
High (H) 0.03532
Low (L) 0.03457
Close (C) 0.03489
Volume (C) 99,307,831.00
  • Open (O): The opening price for today’s trading session was approximately 0.03464 USDT.
  • High (H): VeChain reached a daily high of around 0.03532 USDT.
  • Low (L): The daily low for VET-USDT was approximately 0.03457 USDT.
  • Close (C): At the time of analysis, VeChain is trading near its daily close of 0.03489 USDT.
Metric Value
1D Change (%) 0.75%
3D Change (%) -0.57%
7D Change (%) -6.06%
30D Change (%) -27.46%
90D Change (%) 15.42%
YTD Change (%) 1.63%

Over the past three days, VETUSDT has declined by approximately -0.57%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -6.06%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with VETUSDT maintaining a downward trend of approximately -27.46%, despite intermittent fluctuations. Examining the last 90 days, VETUSDT has witnessed substantial increase of approximately 15.42%, reflecting strong long-term confidence. Year-to-date, VETUSDT has steadily increased by around 1.63%, 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 0.46764.
  • Momentum score is -0.17693.

VET USDT Technical Analysis

VeChain Trading Volume:

The trading volume for VeChain (VET) over the past 24 hours has been insignificant, with approximately 99,307,831.00 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 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-USDT is currently in the low zone, around 43.7405. This suggests that VeChain is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

VeChain (VET-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.

Receive signals of caution for potential VeChain (VETUSDT) downturns at 3.49e-02 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.

Dive into the details with our in-depth analysis on VET BTC VeChain Technical Analysis; you won’t want to miss it if you found this post interesting.

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.

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