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The VeChain price is contained in a widening wedge pattern on the 12 hour chart.
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According to a key indicator, the digital asset is facing strong selling pressures in the short term.
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Vocational training faces only one critical level of resistance before a potentially massive outbreak.
VeChain was trading within an uptrend on the 12-hour chart, but one key indicator only showed a sell-signal and increased its selling pressure. The digital asset is likely to retreat before any potential new move up.
At the time of writing, VET is trading at $ 0.095.
VeChain price close to a major correction
VeChain has set an ascending, widening wedge pattern on the 12-hour chart. The digital asset is trading right on the top trend line, but the TD Sequential indicator just displayed a sell signal.
Confirmation of this sell signal has the potential to bring VeChain down to $ 0.084 at the bottom of the pattern in the short term. A breakdown below this point would drive the VeChain price towards $ 0.07.
To invalidate the bearish outlook, bulls will have to push VeChain price above 0.098 which will also invalidate the sell-signal. A breakout above the pattern’s upper trendline resistance will immediately propel VeChain towards $ 0.12.
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