VeChain

<ul><li>VeChain&#39;s price fell 44.18% from July 15 to August 5, reflecting market trends.</li><li>Price recovery was noted with a 28.94% rise, peaking again on August 11.</li><li>Technical analysis shows resistance at major EMAs and SMAs, suggesting bearish trends.</li></ul>In a recent <a href="https://www.youtube.com/watch?v&#61;kcXODZpTVY0" rel="noopener noreferrer nofollow">video</a> by Checky Crypto on YouTube, VeChain&#39;s price has demonstrated considerable volatility. Starting from a high on July 15, VeChain experienced a sharp decline of 44.18%, reaching a low on August 5. This downturn reflected broader market trends, as many cryptocurrencies faced similar challenges.Following this low, VeChain showed signs of recovery. The price rose by 28.94% until it peaked again on August 11. This upswing offered a brief respite for investors. However, the relief was short-lived. Over the following days, VeChain <a href="https://cryptotale.org/heres-why-vets-corrective-phase-could-set-up-for-a-strong-bullish-wave-ahead/" rel="noopener noreferrer nofollow">encountered</a> further losses, with an 8.9% drop occurring within just a few days. This was followed by an additional 4.69% decline, indicating persistent downward pressure.Related: <a href="https://cryptotale.org/will-elliott-wave-theory-push-vechain-vet-price-to-235-an-analysis/" rel="noopener noreferrer nofollow">https://cryptotale.org/will-elliott-wave-theory-push-vechain-vet-price-to-235-an-analysis/</a>Analyzing the one-hour time frame, there is clear resistance around critical technical markers like the 200-hourly EMA, the 50 EMA, and the 50 SMA. These indicators suggest a strong resistance level that VeChain struggles to overcome. The recent price actions involve significant liquidity extraction, with many leveraged positions being liquidated and spot buyers facing high entry costs.<a href="https://cryptotale.org/vechains-vet-price-drops-sharply-whats-next/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Vechain's VET Price Drops Sharply: What's Next?

CryptoTale

Other articles published on Aug 17, 2024

As the Digital Humans Market Nears $22B, Antix Taps Into Web3 and Crypto with Its AVAGEN Solution

Crypto Heist Shocks Thailand: $2M Stolen in Pathum Thani Home Invasion

Former BAYC creative director Jeff Nicholas joins Meta’s Reality Labs

Next Cryptocurrency to Explode Saturday, August 17 — UNUS SED LEO, Amp, TRON, Bitget Token

Grayscale Expands Crypto Offerings with Bittensor and Sui

Experts Predict Stable BTC ETF Inflows

Join our free newsletter for daily crypto updates!