VeChain Price Update: VET Declines 1.8% Following Hayabusa Upgrade Launch
Current Price Trend: VeChain's $VET price has dropped to $0.01239, reflecting a 1.8% decrease in the last 24 hours, with traders monitoring a critical support level around $0.012 as the market trend remains downward since October.
Hayabusa Upgrade: The recent Hayabusa upgrade introduces a Delegated Proof-of-Stake (DPoS) system to VeChain, enhancing decentralization, security, and tokenomics, while also reducing $VTHO generation for improved efficiency.
Market Outlook: Despite the ongoing downward trend, the Hayabusa upgrade is seen as a potential turning point for VeChain, laying a stronger foundation for future growth and adoption.
Future Developments: VeChain plans to launch the "Interstellar" update and support JSON RPC, which will further enhance the network's capabilities and provide more flexibility for developers.
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Technical Analysis for VET
Technical Sentiment Analysis for VeChain (VET) As of , VeChain (VET) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for VET stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, VET is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
VeChain (VET) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.004 | 0.00529 | 0.00672 | 0.00801 | 0.00944 | 0.0107 | 0.0122 |
| Fibonacci | 0.00529 | 0.00633 | 0.00697 | 0.00801 | 0.00905 | 0.00969 | 0.0107 |
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