VeChain (VET) Manifests Two Major Losses Over a day

VeChain (VET) has become one of the worst-hit coins due to the effect of the current market-wide slowdown. It has made a loss of 7.04% over the last 24 hours and shown three major price variations in the range between 0.0077 USD and 0.0067 USD.

VeChain Price Analysis:

VET was being traded at 0.007394 USD at the opening of the day and the first major price variation happened between 00:51 UTC and 09:50 UTC and over these 9 hours, Vechain Price lost 10.31% and got placed at 0.006916 USD. It was followed by a 7.45% hike that added 0.0005 USD to the value and pushed it to 0.007439 USD by 13:16 UTC. However, this high figure could not be sustained for long and it took a plunge to make a loss of 8.72% over the next 13 hours and 41 minutes to fall as low as 0.006797 USD.

VET’s market cap on December 3 was 388.039 million USD and over the last 24 hours, it has gone as low as 380.533 million USD.

VeChain Price Prediction:

VET’s 20 days average is now at 0.00685801 USD and its 50 days moving average rests at 0.00685118 USD. The current price trend at 0.00687379 USD is 0.33% and 0.23% more than the 50 days average and 20 days average respectively. VET may soon seek support at 0.006691 USD. Investors are advised to hold on to their investments and the perfect selling point may take some time to appear.

Resistance and Support Levels-