VeChain Analysis: 01 August

Published by Cyber Flows on

VeChain, ranked 20th on CoinMarketCap’s charts, was one of the cryptocurrencies leading the altseason charge in early-July, with VET surging by leaps and bounds for over a week or so. Since then, however, VeChain has failed to replicate its bullish movements, with a correction wave sweeping across the VeChain market.

In fact, even Bitcoin’s hike and the larger crypto-market’s consolidation did little ti improve VET’s fortunes as the cryptocurrency was down by over 14.5% in a week, at the time of writing.

While the Awesome Oscillator pictured falling market momentum, the Chaikin Money Flow was seen falling on the charts, a sign of strengthening capital outflows.

Source: VET/USD on TradingView

Source: eng.ambcrypto.com

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