What do the Short-Term Technicals Predict for VeChain (VET) Friday?

Friday, August 12, 2022 06:53 AM | InvestorsObserver Analysts

InvestorsObserver gives VeChain a strong short-term technical score of 94 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 94% 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.

InvestorsObserver is giving VeChain a 94 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on VeChain!

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Trading Analysis

VeChain is $0.012141 (58.17%) above its 30-day low of $0.020870488 while -$0.000631 (-1.88%) below its 30-day high of $0.03364282. In addition, VET's current price of $0.033011724 is above its 30-day moving average price of $0.026715394, leading to a strong short-term technical score. Overall the recent trading history of VeChain suggest that investors are bullish on the coin at the moment. VET has a high market cap compared to the majority of coins with a total market value of $2,393,717,919.35. VeChain's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and VET meets that criteria. VeChain's average volume is high as $750,655,891.60 worth of the coin is typically traded over a 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 past 24 hours VET's volume is below its average with $133,851,273.75 exchanged.

Summary

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).