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Is VeChain (VET) Heading the Wrong Direction Monday?

Monday, January 30, 2023 12:19 PM | InvestorsObserver Analysts
Is VeChain (VET) Heading the Wrong Direction Monday?

InvestorsObserver gives VeChain a strong short-term technical score of 66 from its analysis. The proprietary scoring system considers the coin's trading history over the past month to determine the strength of its short-term technicals. VET has currently traded better than 66% of coins based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

Short-Term Technical - 66
InvestorsObserver is giving VeChain a 66 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on VeChain!

Trading Analysis

VeChain is $0.008246 (53.68%) higher than its 30-day low price of $0.015359999 while also -$0.001502 (-5.98%) lower than its high of $0.02510755 from the past month of trading. Meanwhile, VET's current price of $0.023605771 is above its average price of $0.019732379 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of VeChain suggest that traders are currently bullish on the coin.
VeChain's market cap of $1,711,681,531.35 is relatively high for a coin. VeChain's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and VET meets that criteria. Meanwhile, VET's average volume is high with $456,974,977.76 worth of the coin traded over an average 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. Over the last 24 hours, VET's volume is below its usual with $60,755,946.53 exchanged.


VET's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the coin in the short-term. Click Here to get the full Report on VeChain (VET).

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