Vechain (VET) is a smart contract on the VeChain Thor public blockchain network. Recently, VET futures were launched on the KuCoin exchange. 2021 has been positive so far for the VET price movement. It is expected to maintain its bullish momentum in the coming months. Past Performance On February 23, 2021, the opening price of VET was $0.05. As of March 3, 2021, VET closed at $0.046. Thus, the VET price has declined over the past week. In the last 24 hours, the VET price is fluctuating between $0.039 and $0.046. https://ift.tt/3c0TS5P Day-Ahead and Tomorrow Presently, VET is trading at $0.043. The price has fallen from the opening price of $0.046. Currently, the RSI indicator is at 32%. It has just started rallying from the ‘oversold’ region. It is a good time for swing traders to go long. Selling pressures are still very high. Hence, we can expect a price pullback. The OBV indicator is steadily falling since morning. Thus, there are large-scale sell-offs in the VET crypto market. High selling activity will exert downward pressure on the VET price. Hence, the price is likely to dip further. The MACD and signal lines are in the negative territory. A bearish crossover by the MACD line over the signal line points towards a strong bearish market momentum. Thus, the price will drop further. There is still a good chance of an upturn in the next two days. VET Price Analysis Currently, the price is below the Fibonacci pivot point of $0.044. By the end of the day, it is likely to fall below the first and second Fibonacci pivot support levels of $0.041 and $0.039 respectively. The price has already tested the 76.4% and 61.8% FIB retracement levels of $0.045 and $0.044 and fallen below them. By the end of the day, if the bears continue to be strong, the price is likely to fall below the 23.6% FIB retracement level of $0.041. In that case, the bear-run will continue tomorrow.
The post VET Price Fluctuating Between $0.039 and $0.046 – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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