VeChain

bullish

Coin

<ul class="wp-block-list news-points"> 
 <li>Vechain (VET) has plunged 40.93% since July, signaling ongoing bearish trends and potential further declines.</li> 
 <li>With VET’s RSI at 24.38, it’s oversold, suggesting possible buying opportunities despite the current downtrend.</li> 
 <li>Vechain’s key support levels are between 1.56 and 2.698, crucial for potential price reversal amid the current sell-off.</li> 
</ul> 
VeChain (<a href="https://coinedition.com/vechains-vet-token-gains-momentum-as-new-dao-and-features-launch/?utm_source=telegram_channel&amp;utm_medium=referral">VET</a>) experienced a significant price drop, plummeting 40.93% since mid-July, as highlighted by crypto analyst Cheeky Crypto in a <a href="https://www.youtube.com/watch?v=W1FtpBNumGs" target="_blank" rel="nofollow">YouTube video</a>. However, technical analysis reveals an oversold RSI of 24, flashing a potential buying opportunity for savvy investors.&nbsp; 
The divergence between VeChain’s price action and its oversold RSI presents a compelling puzzle for analysts. Does this signal a bullish reversal, or is the market’s bearish grip too strong? 
However, the current price action for VET suggests that the worst may not be over. As the token forms a new daily lower low, the critical area for a potential reversal is identified between 1.56 and 2.698. This decline might be part of a broader triple zigzag pattern rather than a simple impulsive breakdown. 
Adding to the bearish sentiment, VeChain has <a href="https://coinedition.com/vechains-vet-hits-new-monthly-high-analyst-predicts-further-gains/?utm_source=telegram_channel&amp;utm_medium=referral">lost…</a>
The post <a href="https://coinedition.com/vechain-vet-flashing-buy-signal-rsi-at-24-amid-downtrend/">VeChain (VET) Flashing Buy Signal: RSI at 24 Amid Downtrend</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

VeChain (VET) Flashing Buy Signal: RSI at 24 Amid Downtrend

Coin Edition

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