VeChain

Better

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Strong

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<ul>
 <li>Despite a 40% dip after the Better Tomorrow partnership announcement, VET faces resistance at the 50-day EMA and SMA but seeks support around the 200-day EMA.&nbsp;</li>
 <li>VeChain’s market condition shows less selling pressure despite price drops. Investors are interested in buying VET in the 2.9 to 3.2 cent range.</li>
 <li>While corrections in Bitcoin may impact VeChain, upside volatility is expected. Price spikes above the 50-day EMA and SMA could lead to a significant rally.</li>
</ul>
<p>VET’s price dipped by 40% since VeChain announced a partnership with Better Tomorrow. Despite this setback, VET is showing a <a href="https://cryptonewsland.com/vechains-180x-move-last-cycle-catches-traders-attention-as-vet-price-chart-prints-bullish-signals/" rel="noopener noreferrer nofollow">bullish </a><a href="https://cryptonewsland.com/vechains-180x-move-last-cycle-catches-traders-attention-as-vet-price-chart-prints-bullish-signals/" target="_blank" rel="noopener noreferrer nofollow">outlook</a>. Currently, VET is facing resistance at the 50-day exponential moving average (EMA) and simple moving average (SMA). However, VET is simultaneously seeking support around the 200-day EMA.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24vet&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$vet</a> <br><br>And here we are.<br>This better be the bottom, we can't afford to fall much lower.<br><br>Also with the oversold RSI, this is the perfect bounce region.<br><br>I'm calling this to be a bottom. I'll admit my mistake if i'm wrong.<a href="https://twitter.com/hashtag/Vechain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Vechain</a> <a href="https://t.co/VZ2E41N5tl" rel="noopener noreferrer nofollow">https://t.co/VZ2E41N5tl</a> <a href="https://t.co/3W0yBb9gjz" rel="noopener noreferrer nofollow">pic.twitter.com/3W0yBb9gjz</a></p>— abermix (@abermixcrypto) <a href="https://twitter.com/abermixcrypto/status/1809119950990086368?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 5, 2024</a>
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<p>A breakout could be imminent if VET establishes and maintains this support level. However, a close below the 200-day EMA might push the price of VET to 2.9 to 3.22 cent range. This current price action represents a standard corrective move rather than a long-term downward trend. One encouraging aspect of <a href="https://cryptonewsland.com/vets-bullish-future-anticipating-a-surge-past-0-0943-in-2024/" target="_blank" rel="noopener noreferrer nofollow">VeChain’s</a><a href="https://cryptonewsland.com/vets-bullish-future-anticipating-a-surge-past-0-0943-in-2024/" rel="noopener noreferrer nofollow"> market condition</a> is the volume profile.&nbsp;</p>
<p>Despite price drops, the decrease in volume indicates less selling pressure. Investors seem more interested in buying VET on a macro scale, particularly in the 2.9 to 3.2 cent range. This suggests that VeChain’s long-term strength remains intact. Comparing VeChain to Bitcoin, we find similarities. Any <a href="http://Bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">correction</a><a href="https://cryptonewsland.com/stock-market-booms-amid-bitcoin-dip-is-btc-preparing-for-a-historic-reversal/" rel="noopener noreferrer nofollow"> in Bitcoin</a> could impact VeChain, but there’s also an expectation of upside volatility.&nbsp;</p>
<p>Price spikes above the 50-day EMA and SMA may precede a significant rally. As of writing, the price of <a href="https://vechain.org/" target="_blank" rel="noopener noreferrer nofollow">VeChain</a> stands at $0.02, with a 12.09% increase in the last 24 hours. VeChain’s journey is marked by key support levels, potential breakouts, and long-term strength. While short-term volatility is expected, the overall outlook remains positive.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrps-historical-upward-price-pattern-repeats-bull-run-now/" rel="noopener noreferrer nofollow">XRP’s Historical Upward Price Pattern Repeats, Bull Run Now?</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inu-holds-strong-above-50-day-average-a-bullish-signal-for-investors/" rel="noopener noreferrer nofollow">Shiba Inu Holds Strong Above 50-Day Average: A Bullish Signal for Investors!</a></li>
 <li><a href="https://cryptonewsland.com/vets-bullish-future-anticipating-a-surge-past-0-0943-in-2024/" rel="noopener noreferrer nofollow">VET’s Bullish Future: Anticipating a Surge Past $0.0943 in 2024</a></li>
 <li><a href="https://cryptonewsland.com/when-will-vechains-vet-token-surpass-the-0-0993-milestone-in-2024/" rel="noopener noreferrer nofollow">When Will VeChain’s VET Token Surpass the $0.0993 Milestone in 2024?</a></li>
 <li><a href="https://cryptonewsland.com/2024-vechain-price-forecast-vet-to-break-through-0-1032/" rel="noopener noreferrer nofollow">2024 VeChain Price Forecast: VET to Break Through $0.1032</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/vechain-at-a-key-support-level/" rel="noopener noreferrer nofollow">VeChain (VET) at a Key Support Level, Is it the Beginning of an Uptrend?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

VeChain (VET) at a Key Support Level, Is it the Beginning of an Uptrend?

Crypto News Land

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