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      VeChain (VET) – What is the Chart Showing Us? - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      December 8, 2021

      5:58 PM UTC

      VeChain (VET) – What is the Chart Showing Us? - Stocks Telegraph

      At the time of writing, VET is being traded at the rate of $0.08938 with a decrease of almost 8% within the last 24 hours.

      The low within this tenure was around $0.08843 and the high was approximately $0.09809. The coin as being in the watchlist of many traders makes it rank all the way up to number 30th according to the latest data released by coin market cap.

      VET made its all-time high in the month of April 2021 where it reached an enormous amount of $0.27983. It later fell down to a price of $0.052 during the crash from where it showed reversal. At the moment it has a daily volume of $459,713,119 with a decrease of 7.95% within the last 24 hours. The circulating supply of VET is now around 64.32B and the maximum supply is 86.7B. VET has a dominance of 0.25%.

      The top exchanges for trading VET are currently Kucoin, Uniswap.

      Technical Analysis – VeChain (VET)

      VeChain on the daily time frame has been printing green candles for quite some time. The price had been bearish since a few backs and hasn’t been able to reverse.

      It can be seen that quite some time ago, VeChain created an order block while moving upwards and breaking the structure. This order block remained unmitigated for quite some time. Soon the price dropped down and mitigated the order block four days ago. The wick dropped down further and grabbed the liquidity.

      VET -1D

      Now the support has been held for now and we can expect a move from VET soon. The price can drop down and test the support area again. This is where an entry can be taken on the spot or a long position. If the supports break we can expect the price to drop down even further down. Taking additional confirmations into account, the possibility is that the price would soon move upwards and touch the imbalance present above.

      Price Prediction – VeChain

      Even though VET has been one of the slow gainers and hasn’t been able to break out successfully. But in the long run, traders are highly bullish on the project. The price is currently at the same level where it was in July and has completely retraced back.  According to the wallet investor, the price of VET is to reach a value of $0.193 in a year. IN five years, it would reach around $0.620.

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