VeChain price analysis: VET/USD is bearish for the next 24 hours

VET/USD is currently in a bear trend as the key $0.123 barrier was broken after a strong rally in the last 24 hours. As a result, we expect the VET/USD bulls to burn out and the market needs a correction.

VeChain price movement over the last 24 hours: VeChain returns to $0.123
The price of VET/USD moved between $0.1053 and $0.1224 throughout the day, indicating high volatility over the past 24 hours. Trading volume rose 73.5 percent to a total of $762.68 billion, while the total market cap is estimated to be around $7.73 billion. VET/USD is bearish and vulnerable to pullback.

As can be seen on the chart, VET/USD hit $0.123 shortly after 7:00 UTC before currently falling back to $0.117. Although we could see another sideways move in the next 12 hours, VET/USD Chain Price Analysis: VET/USD is bearish and likely to decline

VeChain price movement over the last 24 hours: The price of VET/USD fluctuates during the day between USD 0.1053 and USD 0.1224, indicating a high level of volatility over the past 24 hours. Trading volume has increased the price chain movement over the past 24 hours: trading volume has increased 73.5 percent to a total of $762.68 billion, while the total market capitalization is estimated at around $7.73 billion.

VET/USD 4-Hour Chart: Follow VET Then?
On the 4-hour chart, we can see that the price of VeChain slowed down after reaching the resistance of USD 0.123.

On October 1st the price of VeChain started to rise. On October 1, there was a strong rally from the previous big swing of $0.082, leading to a fresh high of $0.116.

VET/USD is in a bearish trend and likely to retreat as the key $0.123 barrier was broken after a strong rally in the last 24 hours. As a result, we expect the VET/USD bulls to burn out and the market needs a correction.

The price has now fallen below $0.12 and the AAVE/USD pair is in a bearish trend and vulnerable to a pullback as the sharp barrier of $0.132 has rallied sharply over the last 24 years. Hours have been overcome. As a result, we expect VET/USD bits to run out and VET/USD to fluctuate between $0.1053 and $0.1224 throughout the day, indicating high volatility over the past 24 hours. Trading volume is increasing.

VeChain price analysis: conclusion
We expect VET/USD to track some gains and try to bottom out in the next 24 hours due to low price action over the next 24 hours. As a result, we expect VET/USD to pull back on some of its gains and look for a lower floor.

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