VET Faces Strong Correction After Reaching $0.0040 Price Point

VET faces a strong correction phase after it reached the $0.0040 price point during the upside momentum and moderate volatility on the market. According to the latest VeChain VET news, the coin was trading at $0.0030 price point over the past week but it marked a spike afterward to $0.0042 before falling below $0.0039.

After the rise and fall, the VET Coin price traded under $0.0035 and $0.0040 price levels. The price charts show mixed indications since over the past 24 hours, the cryptocurrency turned quite bearish and it faced a dramatic price drop. The price can be seen trading moderately in the next few hours and this momentum will likely embark in the near future.

As per the VeChain VET news, the price was spotted trading at $0.00391 during the opening hours of the day. The price then escalated to $0.00402 by 2.71 percent increase at 02:55 UTC. VET later traded moderately before it stopped to the $0.00373 from $0.00401. After this huge fall, the VET price recovered over the past 3 hours and it even touched $0.00390. Because of the huge pressure, the cryptocurrency dropped again by 7.82% to $0.00359.

VeChain marked a slight recovery as per the altcoin news and analysis, and touched $0.00372 and closed the day trading at $0.00363 with regression of 7.57%. The coin remained trading at the same level in the following four hours. After that, VET reflected a 4.35% growth before reaching $0.00378. VET hovered between the $0.00378 and $0.00362 but eventually found support at the $0.00371 price level. Now, VET faces a strong correction phase.

The faster SMA 20 and 50 day are standing at $0.00372 and $0.00373. both of the lines show bearish crossover. The MACD indicator shows bullish signals as the MACD line overlapped the signal line. According to the latest cryptocurrency news, the VeChain price trend will likely correct downwards and will test the crucial support at $0.0035.

The fintech platform Crypto.com was happy to announce that the listing of Vechain is expected to go live on Tuesday, April 23^rd, 2020. According to the announcement, all of the crypto.com token stakers will be able to bid for $500,000 worth of VET on the sale available on the platform at a discounted price. All of the VET tokens will be sold at a 50% discount for CRO stakes only. All of the participants during the discounted sale will be able to participate depending on the amount of the CRO tokens staked.