VeChain is a blockchain-based platform for products and information. This relatively new cryptocurrency is up more than 64% in the last 30 days, and it broke through the 0.0007 resistance level on January 8th. The VeChain Coin price is under a lot of pressure right now, as the market is concerned that the cryptocurrency will not be able to scale to accommodate the rapid growth it has experienced.

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As the crypto market slowly moves back to life, many coins and tokens are finding the strength to move higher. VeChain (VEN) is one of those coins. However, it is worth noting that the currency has had a difficult year. With a fall of more than 87% over 12 months, many investors have lost hope. However, the price has been recovering slowly over the past few weeks. This week, the currency was the best performer in the top 10. It is also worth noting that a lot of investors are optimistic about VeChain (VEN).

Summary of the situation

  • VET retests the Fib retracement level of 0.618.
  • The next major resistance is at $0.22.
  • The next support is at $0.16.

The price outlook for VeChain is bullish today, as the market has set higher lows in recent days and is preparing for an upward push next week. Heatmap for crypto-currencies. Source: Coin360 VeChain price prediction: VeChain prepares to move higher? The general market is trading in the red today, with bitcoin down nearly 2% and Ethereum down 5%. Solana (SOL) is one of the top companies with a 15% return. Polkadot (DOT), on the other hand, is among the worst performers, having lost nearly 9% in the past 24 hours. VET/USD opened at $0.172 today after yesterday’s downward trend. Over the past few hours, the VET/USD pair retested the local high at $0.19, after which the market turned lower and is now heading for a new higher low.

VeChain price movement in the last 24 hours

The ETV/USD exchange rate was in the range of $0.1701 – $0.1925, indicating moderate volatility. Trading volume rose 9.5% in 24 hours to $1.7 billion. The company has a market value of about $15.5 billion, making it the 17th largest company in the market.

4-Hour chart VET/USD – VET has been consolidating in an increasingly narrow range for the pastdays.

On the 4-hour chart, we see that the bulls are releasing selling pressure around the $0.175 level, suggesting that a new slightly higher low has been reached. VET/USD 4 hour chart. Source: TradingView VeChain price prediction: VeChain prepares to move higher? Overall, the market continues to move away from 7. Maximum of $0.25 in May. Within a few days, the total loss was 35%, indicating that the additional selling pressure had probably been exhausted. VeChain’s price action is currently creating a base from which it can go higher in the coming week. The last 24 hours were characterized by higher lows and lower highs, indicating a narrowing trading range. Thus, once VET/USD breaks through $0.19 to $0.195, we expect the market to move quickly towards the next major resistance target around $0.215 to $0.22. From here, the bulls are likely to gain momentum and drive the market towards the current historical resistance around $0.27-0.28. Otherwise, if Vechain fails to rise and break the current local low around $0.17, we will see another downward push in the next 24 hours. In such a scenario, the VET/USD is likely to drop to the next key support zone around $0.12-$0.13 in the coming week.

VeChain Price Forecast: Supplement

VeChain’s price outlook is bullish as the market continues to consolidate into an increasingly narrow range following a sharp drop earlier this week. Therefore, we expect the VET/USD to pick up early next week to make up some of its losses. While we wait for Vechain’s price movement to reverse, check out our guides to other great altcoins – Monero, Ethereum Classic and Ripple. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The cryptocurrency market is seeing a lot of movements through the last couple of months. Currently, the entire market is being led by Bitcoin, but as we know, some altcoins are working on some interesting developments. VeChain is one of the cryptocurrencies that are moving higher, and this could mean good things for the future. Therefore, we need to keep an eye on the currency, and we need to see how this situation develops.. Read more about vechain price prediction 2020 reddit and let us know what you think.

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