$VET Testing the Depths After a Sharp Drop
VET faced a sharp decline, trading at $0.02827 (-9.36%). Sellers dominate the market, pushing the price toward critical support zones.
Key Metrics:
• 24H High: $0.03314
• 24H Low: $0.02827
• Volume:
• VET: 866.19M
• USDT: 26.18M
Technical Overview:
1. Moving Averages:
• MA(7): $0.02874 indicates current bearish momentum.
• MA(25): $0.02966 and MA(99): $0.02700 show a downward pressure as the price remains below key averages.
2. Support and Resistance Levels:
• Strong support at $0.02700; breaking this could trigger more selling pressure.
• Immediate resistance at $0.02900; bulls need to reclaim this for a recovery.
3. Volume Analysis:
• Selling activity dominates with a steady decrease in volume, indicating caution from buyers.
Outlook:
VET is at a pivotal point. Watch for a bounce around the $0.02700 support. A break above $0.03000 would signify renewed bullish strength. Short-term traders should remain cautious and monitor for volume spikes to confirm a trend reversal.
Is a reversal brewing, or is more downside ahead? Stay sharp!
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