VeChain Price Analysis: VET swiftly retraces to $0.116, a higher low formed?

TL;DR Breakdown VeChain price analysis is bullish today.VET/USD continued to retrace yesterday.VET found support at $0.116. VeChain price analysis is bullish for today as a new higher low was established after a strong retracement yesterday. Therefore, we expect VET/USD to reverse and start heading higher later today. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market trades in the red over the last 24 hours, with Bitcoin losing 3.85 percent. VeChain (VET) is among the worst performers, with a loss of 11.4 percent. VeChain price movement in the last 24 hours: VeChain retraces to retest $0.116 mark VET/USD traded in a range of $0.1133 – $0.1345, indicating substantial volatility over the last 24 hours. Trading volume has dropped by 6.17 percent and totals $1.3 billion. Meanwhile, the total market capitalization trades around $7.56 billion, resulting in a market rank of 22nd place. VET/USD 4-hour chart: VET prepares to rally again? On the 4-hour chart, we can see the VeChain price establishing a higher low in preparation for further upside over the following days. VET/USD 4-hour chart. Source: TradingView VeChain price has rallied around 150 percent over the past month after a new major swing low was set around the $0.056 mark on the 20th of July. Since then, VET/USD has broken through the previous swing high of around $0.095, indicating a change in the market sentiment. However, the next major swing h...