VeChain Price Analysis: VET spikes to $0.125, slow reversal to follow?

TL;DR Breakdown VeChain price analysis is bearish for today.VET/USD rallied over the last 24 hours.VET rejects further upside at $0.125. VeChain price analysis indicates bearish price action momentum to follow over the next 24 hours as the market saw a rapid spike higher today after a several-day slow retracement. Therefore, we expect VET/USD to continue lower and look to retest the $0.115 mark next. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with mixed results over the last 24 hours. Bitcoin decreased by 1.56 percent, while Ethereum gained 3.12 percent. Polkadot (DOT) is the best performer, with a gain of almost 19 percent. VeChain price movement in the last 24 hours: VeChain spikes to $0.125 VET/USD traded in a range of $0.1165 – $0.1272, indicating strong volatility over the last 24 hours. Trading volume has increased by 16.13 percent and totals $821.83 billion. Meanwhile, the total market capitalization trades around $8.07 billion, ranking the coin in 22nd place overall. VET/USD 4-hour chart: VET set to retrace overnight? On the 4-hour chart, we can see the VeChain price rejecting further upside as of now, which should lead towards further retracement overnight. VET/USD 4-hour chart. Source: TradingView VeChain price action traded with a strong bullish momentum over the past weeks.  After gaining 160 percent from the $0.056 support set on the 20th of July to the $0.144 resista...