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

Tuesday, September 06, 2022 03:55 PM | InvestorsObserver Analysts

VeChain receives a weak short-term technical score of 18 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. VET holds a better recent technical analysis than 18% of coins at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving VeChain a 18 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 $0.000081 (0.35%) higher than its 30-day low price of $0.022982754 while also -$0.010757 (-31.81%) lower than its high of $0.03382013 from the past month of trading. Meanwhile, VET's current price of $0.023063363 is under its average price of $0.027719464 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of VeChain suggest that traders are currently bearish on the coin. VET has a relatively high market cap for a coin with a total market value of $1,672,350,901.01. 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 meanwhile is high with $554,079,640.74 worth of the coin traded over a typical 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. As of the past 24 hours, VET's volume is below its average with $80,658,929.20 exchanged.

Summary

VeChain's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the coin in the near future. Click Here to get the full Report on VeChain (VET).