VET, the native token of VeChain, is currently trading at $0.03866, a 11.47% decrease in 24 hours. It has retreated from a breakout above a long-standing descending channel pattern and faces a crucial test with its support level at $0.037. VET’s 50-day and 200-day Simple Moving Averages (SMAs) are approaching a golden cross formation, and technical indicators show mixed signals.
Market sentiment leans bearish, with short positions outweighing long positions. Though VeChain’s development activity has slightly decreased, it still remains healthy. VET’s price movement is being closely monitored due to the potential golden cross and support level.
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<p>The post VET Faces Crucial Test at $0.037 Support Level Amid Mixed Technical Indicators and Slight Development Decline first appeared on CoinBuzzFeed.</p>
