VeChain

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>VET price chart shows a trend reversal and may continue to face selloff.</a></li>
 <li><span>2</span> <a>Technical indicators are suggesting a possible decline toward the 200-Day EMA mark.</a></li>
</ul>
<p>The Vechain coin (VET) price indicates a trend reversal, shedding over 30% of gains amid selling pressure. The chart indicates the breakdown of a rising wedge, the coin has broken the lower trendline support zone and slipped to the 100-Day EMA support zone. Furthermore, the price action shows follow-on selling pressure along with a fresh lower high swing.</p>
<p>At press time, the VeChain coin (VET) price was trading at $0.03715 with an intraday drop of 10.67%, indicating selling pressure on the charts. It has a monthly return ratio of -44.88% and 51.89% on a yearly basis. The pair of VET/BTC is at 0.000000591 BTC, and the market cap is $2.47 Billion. Analysts are neutral and suggest the VET coin may continue to slip and may retest the 200-Day EMA mark soon.</p>
<h2 class="wp-block-heading" id="strong-vechain-price-indicates-selloff-with-volume-spike-strong"><strong>VeChain Price Indicates Selloff With Volume Spike</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (VET), Volume (VET)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2023-12-13T00%3A00%3A00.000Z&amp;dt=2024-03-19T18%3A29%3A59.549Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%23284731%3B%237a89c9&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B" scrolling="no"></iframe>
<p>The chart shows that the <a href="https://www.thecoinrepublic.com/2023/03/12/vet-coin-price-analysis-is-vet-coin-indicating-bearish-run/" target="_blank" rel="noopener noreferrer nofollow">VET coin </a>has started forming fresh lower high and lower low swings and is delivering bearishness in the last sessions. Moreover, the coin has slipped to the 100-Day EMA and is reflecting seller dominance on the charts. Additionally, the selling comes amid a volume spike which suggests investors could be looking to retrieve profits aggressively.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-noted-sharp-rise-what-does-it-mean-strong"><strong>Price Volatility Noted Sharp Rise, What Does It Mean?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (VET), Price Volatility 1w (VET)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2023-12-13T00%3A00%3A00.000Z&amp;dt=2024-03-19T18%3A29%3A59.549Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bprice_volatility_1w&amp;wax=0%3B1&amp;wc=%233b6dc6%3B%23FF5B5B&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>Following the price drop, the volatility rate gained pace and surged by over 210% to 0.077 this week amid the selloff. Moreover, the price action indicates a possible downfall ahead toward the 200-Day EMA mark. Conversely, the total weighted sentiment is neutral and is close to the midline of 0.283.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-social-volume-noted-a-drop-strong"><strong>Social Dominance and Social Volume Noted a Drop</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (VET), Social Volume (VET)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2023-12-13T00%3A00%3A00.000Z&amp;dt=2024-03-19T18%3A29%3A59.549Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsocial_volume_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%2368DBF4&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Per the Santiment data, the coin has witnessed a decline in the social dominance data and the value dropped to 0.111%, reflecting the drop in investor interest. Likewise, the social volume data also fell by over 80% to 76, replicating a negative outlook.</p>
<h4 class="wp-block-heading"><strong>What Does Development Activity and RSI Suggest?</strong></h4> <iframe loading="lazy" title="Santiment Chart: Development Activity (VET), Dev. Activity Contributors Count (VET)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=vechain&amp;pt=VET&amp;df=2023-12-13T00%3A00%3A00.000Z&amp;dt=2024-03-19T18%3A29%3A59.549Z&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity%3Bdev_activity_contributors_count&amp;wax=0%3B1&amp;wc=%238358FF%3B%23FF5B5B&amp;ws=%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D%3B" scrolling="no"></iframe>
<p>The above data shows that the VET coin has had a consistent growth in the development activity over the past weeks. However, the value slightly dropped by over 2% to 9.71 this week. Additionally, the contributors count remained steady and is noted around 2.80.</p>
<p>The RSI curve slipped to the midline and is revealing a negative crossover indicating the selloff on the charts. Moreover, the technical indicators are suggesting a weak outlook for the upcoming sessions.</p>
<p>Per the Fib levels, the VET price has fallen below the 50% zone and is close to the 38.2% zone. The total supply of the VET coin is 85.99 billion, and the volume to market cap ratio is 0.0577.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The VeChain coin (VET) is undergoing a trend reversal and is facing selling pressure, leading to the retesting of the 100-Day EMA mark. Additionally, the channel breakdown may stretch the fall and may drop the coin price toward the $0.03000 mark soon.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.03500 and $0.03000</p>
<p><strong>Resistance Levels:</strong> $0.04000 and $0.04200</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

VeChain Investors Panic, Is VET Going For The $0.0300 Mark?

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Thecoinrepublic.com

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