VeChain price analysis: Bears overwhelmed the bulls on the daily chart

TL;DR Breakdown Vechain price analysis is bearish for today.VET/USD retraces after peaking at around $0.1244.VET is set to retest the $0.1125 support. Vechain price analysis: General price overview VeChain began her price analysis chart with a positive trend. The bulls controlled the market, pushing prices up in head and shoulder patterns that took them to intraday highs of $0.1196. The sellers erected a powerful barrier at the intraday highs, causing a falling price in a descending triangle. Vechain price analysis indicates bearish price action momentum to follow later today as the market peaked around $0.1185 earlier today and currently declined back to $0.1124 support. Therefore, we expect VET/USD to fall further and retest the $0.1122 support later today. Cryptocurrency heat map. Source: Coin360 The overall market traded in with mixed signals after some coins recorded gains while others posted losses. The tremendous assets, Bitcoin and Ethereum, gained 3.97 percent and 2.9 percent, respectively. The Binance coin is trading in the same direction, recording more than a 2 percent price increment. Despite many currencies trading bullishly, others like XRP, ADA, SOL, and FTT have recoded price drops. VET/USD 4-hour chart: VET set to retest the $0.1125 support? On the 4-hour chart, we can see the Vechain price declining again as bulls are not ready to break higher. Source: Tradingview The Bollinger Bands are wide as the price ...