VeChain (VET) is posting a rebound from today’s low of $0.020. At the time of publication, VET was changing hands at $0.023, up 3.50% in the last 24 hours. Shopping.io has orchestrated one of its biggest collaborations to date, with Vechain taking part. Starting on September 10 and lasting for 48 hours, all orders paid for using VET via ShoppingPay will be rewarded with 20% of their order value back in SHOP tokens. SHOP will function as Shopping.io’s native token, built on the Ethereum blockchain, and will function as a utility token within the Shopping.io ecosystem. VeChain Thor has launched with ood: the first-ever art and collectibles marketplace backed by highly efficient and eco-friendly blockchain technology to assure authenticity and provenance.
Key Levels
Resistance Levels: $0.0350, $0.0300, $0.0262
Support Levels: $0.0225, $0.0206, $0.0198
VET/USD Daily ChartThe daily chart shows that recent lows at $0.0226 may contain potential bearish moves, while the $0.0262 level, followed by the moving average (MA 50) area at $0.0270, is currently holding the upside. Furthermore, as long as VET/USD remains beneath the key moving average 50 at $0.0270, it is expected to retain its negative bias.
Growth from a $0.0198 yearly low is viewed as a medium-term growth phase within a long-term consolidation trend. Further gains are expected as long as the support level of $0.0206 is maintained. If $0.0262 is breached, a further rebound to $0.0300 is possible. A break lower of the $0.0225 level, on the other hand, would argue that the rally from $0.0198 has ended and will draw attention to this low.
VET/USD 4-Hour ChartVET/USD 4-hour trend remains sideways for the time being but intraday bias is skewed upwards, as it continues to range from the temporary low of $0.0225. Even if there is a strong rebound, a steeper fall may remain in support as long as the $0.0262 resistance level remains.
A break of the temporary low of $0.0225 could restart the drop from $0.0340 to the retracement at $0.0300 and back to $0.0198, which is still the present yearly low. However, the lower border of the 4-hour chart may provide short-term support for the cryptocurrency price.
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