VeChain price analysis: Bears overtake bullish momentum to push VET below $0.12

TL;DR Breakdown The latest VeChain price analysis shows a decline.Price levels have once again dropped to $0.12.Further decrease in the coin value is expected. The VeChain price analysis is indicating a drop in price today, as the price has lowered to its former level i.e. $0.11. The past few hours have been crucial for the cryptocurrency, as there has been a huge bearish slide. The bears have taken the price down to a critical support level of $0.11, and a further decline in the VET value can be expected as well. The bears have pinned down the outgrowing bullish momentum, in their struggle to maintain the lead. VET/USD 1-day price chart: Bulls get rejected as recent setback promotes bearish momentum The 1-day Vechain analysis is showing a considerable decline in the price today, as it has undergone a sharp drop. The price has been downgraded to a great level as it is now resting at $0.11 in the 1-day price chart. The past week has been highly supportive for the buyers, which resulted in a continuous bullish trend line. Yet, today’s trend has been quite the opposite, as the moving average (MA) is also standing above the current price i.e. $0.14. VET/USD 1-day price chart. Source: TradingView Moreover, the volatility is increasing at a slow rate, and the upper Bollinger band is present at $0.15 while its lower band is at $0.11. The Relative Strength Index (RSI) is also going through a decline because of the recent bearis...