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VET Price Analysis: A New high for the month was formed yesterday

VET coin
  • VET allows MTT, which allows atomic transactions for users to do batch payments.
  • The token has shown the pattern of engulfing bearishness in the last 24 hours.
  • The RSI oscillator for VET shows the BUY action.
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The VET has the circulatory supply of 64,315,579,989 VET coins. The last known price of the token, VET, is 0.08409 and is up by 18.49% over the last 24 hours. It has the current trading volume(s) of 7,306,405,253 with a gain of 18.85% over the last 24 hours.  VET has addresses of 23,991 with the active address(es) of 191 in the last 24 hours. 

The chart above shows the movement of VECHAIN where 200 DMA has been running above it and even DMA-50 was above it until 23 July. We see the token with respect to SMA’s which are 20, 50 and 200 and it is SMA-20 which is behind one(SMA-200) SMA but above the other(SMA-50). We see a downward pattern where the bears’ win is visible. The trend line marked shows this downwards shifting. The candles forming now are touching the level of SMA-200. Gathering support from the trendline, coin is making green candles. VET has provided returns of 18% in the month of July starting to till date.

Its top 10 and 20 holders have more than 65% holdings and top 50 and 100 have more than 70% which makes the decent supply side of the coin.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 85.21 and marks the overbought action. MA-5, MA-10, and MA-20 show the buy action. Even MA-100 and MA-200 show the same buy action. However, the VECHAIN at present is all set to SELL if you have attained your desired returns.

The bull/bear power has the value of 0.0116 and shows the buy action. The high/low marks the buy action with the value of 0.0066.

The VET-BTC pair is trailing at the level of 0.000002204 and the gain of 6.52% was seen whereas the VET-ETH pair is trailing at the level of 0.00003618  and the gain of 9.84% was seen in the last 24 hours. The volume/market cap of the token is 0.1532 and its market dominance is 0.35%.

Conclusion: The days range for the coin is 0.069300 – 0.087430 and presently is at 0.085. The 24 hours high and low of the coin is 0.087 and 0.069 respectively. We observed that the coin is going higher and in the coming time it will be like this only. Intraday traders can get into it.

Technical Instruments:

Pivot: 0.085

R-1: 0.0.086

R-2: 0.087

S-1: 0.084

S-2: 0.083

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour