Previous article VeChain Price Analysis: VET Dips by 17% in 24 Hours Next article THE MEME COIN RECKONING HAS COME NEXT 100x PRESALE? Buy Now Buy Now THE MEME COIN RECKONING HAS COME NEXT 100x PRESALE? Buy Now Buy Now Home Latest Cryptocurrency News VeChain Price Analysis: VET Dips by 17% in 24 Hours VeChain Price Analysis: VET Dips by 17% in 24 Hours By Hassan Maishera - min read Updated 21 March 2023 The VET/USD pair is in a bearish downturn could continue that way for the next few hours The broader cryptocurrency market continues its bearish trend, with the latest sell-off causing the total market cap to drop below the $2 trillion mark. Bitcoin’s price has dropped below the $40,000 mark, the first time it has traded at this price in months. VeChain (VET) was also affected by the downturn, losing more than 17% of its value in the past 24 hours. The huge decline in price could see VET heading down to the $0.1 mark, erasing most of the gains it has accumulated in recent months. VET price outlook VET is down by 18% against the USD over the past 24 hours, following a massive dip in the broader cryptocurrency market. The dip sent VET’s MACD line further into the bearish territory, and it is trading nearly 20% below its 100-day simple moving average ($0.180). For the first time in weeks, VET’s 14-day RSI is slipping into the ‘oversold’ region. VET/USD 4-hour chart. Source: Coinalyze If the bearish trend continues, VET could lose critical support at $0.129, paving the way for further declines to its 30-day low at $0.127. Further market sell-offs could see VET drop below $0.120 and head towards $0.10 over the coming days. However, if VET is to break the recent downturn, it would need the help of the general crypto market. A rally past the first resistance past at $0.147 could set it nicely to attempt the major resistance point at $0.162. Unless there is a massive rally, the VET/USD pair could find it tough to reach the $0.193 resistance level over the next few hours. Share this article Categories Analysis Tags Vechain News