VET Technical Analysis Jan 21

While VET’s RSI at 38.42 level signals an approaching oversold condition, MACD confirms bearish momentum with a negative histogram; short-term trend is weak but support levels are approaching.

Trend Status and Momentum Analysis

VET’s current price is stabilizing at the 0.01 dollar level, with a slight 0.58% drop observed in the last 24 hours. The daily range has narrowed and squeezed into the 0.01 – 0.01 band, indicating reduced volatility. Momentum indicators generally paint a bearish picture: RSI at 38.42 in the neutral zone but trending downward, MACD in bearish configuration, and price trading below EMA20. The Supertrend indicator is also giving a bearish signal, with strong resistance holding at the 0.01 level. Volume is at a medium level of 21.18 million dollars but not sufficiently supporting the downside, hinting at potential momentum weakening. 9 strong levels were detected across multiple timeframes (MTF): 2 support/2 resistance on 1D, 1 support/2 resistance on 3D, and 1 support/2 resistance on 1W. This confluence makes the 0.0096 and 0.0101 supports critical. The overall trend continues as a downtrend, but with RSI slowdown, momentum exhaustion signals can be sought.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI(14) is currently at 38.42 and showing a steady decline recently, moving in sync with price and staying away from regular bearish divergence. As price makes new lows, RSI is not forming higher lows, confirming momentum has not yet reversed. However, on the 1W timeframe, there is a slight trace of hidden bullish divergence: As price falls, RSI shows recovery tendency without approaching 30s, carrying potential for bullish reversal at strong support. No divergence in the short term, selling pressure dominates but positive deviation should be watched without dropping below 30. If not confirmed by volume, this signal remains weak.

Oversold/Overbought Regions

RSI at 38.42 is approaching oversold (below 30), with slippage from the neutral zone reinforcing bearish momentum. In the past, VET recovered from similar levels after 20-30% pullbacks, but currently lacks volume confirmation. Remaining below 50 sustains the sell signal; if it drops below 40, VET Spot Analysis can be followed for oversold bounce. In momentum confluence, RSI shows bearish bias aligned with MACD.

MACD Signals and Histogram Dynamics

MACD is bearish, with the signal line below the MACD line and histogram expanding with negative bars. This indicates strengthening bearish momentum; as histogram depth increases, short-term selling pressure has risen. The latest crossover occurred bearish on the 3D timeframe, pushing price below EMA20. No histogram contraction, instead expansion with downtrend confluences. On 1D, histogram not approaching zero line, signaling it’s early for reversal. Even supported by volume, long positions are decreasing in futures market per VET Futures Analysis, strengthening sell signal.

EMA Systems and Trend Strength

Short-Term EMAs

Price below EMA20 (0.01), confirming short-term bearish bias. EMA10 and EMA20 ribbon squeezed, trend strength weak but downward. Short-term EMAs forming resistance, selling pressure expected on attacks toward 0.0107.

Medium/Long-Term EMA Supports

EMA50 and EMA200 sloping downward, medium-term trend weak. Price near EMA50 (around 0.0101), critical support here. Ribbon dynamics favor bears, but if 0.0096 breaks, accelerates toward EMA200 (around 0.009). EMA ribbon width narrowing in trend strength measurement, opportunity for momentum exhaustion.

Bitcoin Correlation

BTC at 89,136 dollar level with 2.18% drop in downtrend, Supertrend bearish. VET highly correlated with BTC (0.85+), BTC’s break below 88,308 support would push VET below 0.0096. If BTC resistances at 90,221 and above are surpassed, short covering could come in VET, but rising dominance pressures altcoins. If BTC drops below 86,669, VET bearish target 0.0052 activates; BTC levels to watch: support 88k, resistance 90k.

Momentum Outcome and Expectations

Momentum indicators show bearish confluence: RSI at 38.42 approaching oversold, MACD negative histogram expansion, price below EMAs, and Supertrend bearish. Volume not confirming downside, increasing consolidation probability. MTF levels create confluence at 0.0096 support and 0.0107 resistance; bullish target 0.0160 low score (31), bearish 0.0052 (22) more likely. No divergence but hidden bullish signal sought if RSI recovers. Short-term selling pressure dominates, preparing for support test; BTC downtrend limits altcoin momentum. Observation: RSI below 30 + MACD histogram contraction key for reversal.