- VeChain is currently trading at a price of $0.01918 with an advance of 2.45% in the last 24 hours.
- The current liquidity for the VET is 2.19% ranking #78 as per CoinMarketCap.com.
- The last 24 hour trading volume for VeChain is $16.70M resulting in decline of -30.25%.
By using smart contracts and IoT technologies, VeChain crypto is a platform that targets supply chain management. It strives to build an ecosystem that is transparent, efficient, and scalable, and that can overcome data problems for different industries.
Fully diluted market cap for the VET is $1,663,055,133 resulting in a total supply of 85,985,041,177 VET. Also the circulating supply for the same is 72,714,516,834 resulting in an astonishing max supply of 86,712,634,466.
VeChain Technical Analysis
Market Structure:
The market was struggling to maintain itself at the higher levels as buyers did not show much interest which led to decline in price from the higher levels showing the presence of sellers in the market resulting in a downtrend but recently the market started to rebound by taking rejection from the lower levels and is now showing the signs of bullishness by sustaining at the higher levels.
VeChain Indicator Analysis
EMA:
The market has been declining from higher levels resulting in a bearish crossover which led to a downtrend but in the very recent times, as on 10 June 2023 the VET made a recent swing low and started to rise resulting in contraction of 20,50-day exponential moving average and may can give bullish crossover if continue to push the price upwards.
RSI:
The RSI for VeChain is reversing from the overbought level but is sustaining above the 50 level which indicates strength in the market, this often represents that we can get to see good momentum in the upcoming days.
Conclusion
Based upon the current chart we can see that the Exponential moving averages have contracted which can result in a bullish crossover and the RSI is also acting positive. The market is currently making higher highs with the support of indicators, if the market continues to move on the upper side we can see a bullish crossover and a very good up move in the upcoming days.
Technical Levels
- Support Level – 0.01810 and 0.01449
- Resistance Level – 0.02040 and 0.02459
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
