VeChain (VET) Keeps Uptrend Intact Despite Recent Pullback

VeChain (VET) News

VeChain has come up with a new tool that allows the food industry to deploy on-chain safety management solutions. It includes traceability templates. This is likely to cut the cost of certification, auditing, insurance, and supply chain financial services.

VeChain Price Analysis

Yesterday, VET/USD spotted around $0.0207 in the first hour, and over the next 11 hours, the price gradually escalated and touched $0.0229. However, after this escalation, the VeChain faced sharp pullback which took the price to $0.0213 by 15:00 UTC.

Later, VET coin price managed to regain the upward momentum and again marked a steady escalation. By 19:30 UTC, the currency retested $0.0228 mark but then, VeChain faced rejection and started correcting downwards. Today, the coin continued to decline and fell to the lowest of last 24 hours at $0.02008.

However, after hitting $0.020, VET/USD has started recovery and at the press time, it spotted at $0.02124. The MACD indicator shows a bearish crossover due to recent sharp pullback. As per the current momentum, VeChain might register moderate price movement and continue to hover around $0.021 price level for the near-term.