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Tag: VeChain Coin

  • VeChain (VET) coin bearish – Will it rise?

    VeChain (VET) coin bearish – Will it rise?

    VeChain (VET) established its all-time high at $0.25 – with a one-year increase of 670%. At the time of writing, VeChain crypto was trading hands at $0.11 apiece. The price has been falling in the past twenty-four hours and so has been the daily trading volume. VET crypto had embarked on an uptrend after the market crash but recent price movements suggest another pullback to the downside may be imminent. The recent performance has also turned the one-month growth to a decrease of nearly 50%.

    VeChain (VET) Technical Analysis

    The market sentiment continues to be bearish for VeChain coin. The technical indicators suggest a downtrend in the cryptocurrency to be continues in the upcoming days. Out of the total twenty-six technical indicators, thirteen are giving out a signal of buy with ten indicators standing on a neutral position and only three indicators suggesting a buy position. Both the oscillators and moving averages are bearish.

    VeChain (VET) Technical Analysis
    VeChain (VET) Technical Analysis

    VeChain (VET) has been identified to be operating on a coherent wave count by a trader. P0er the trader’s analysis, VET crypto has completed the first four waves of the formation and is now developing the fifth and final wave. The fifth wave will lead VET coin to test the important support level at $0.034. If the support level hold then bullish divergence can be expected from the cryptocurrency. However, the market sentiment suggests the support level may not hold, in that case, VeChain can be expected to fall much lower.

    Why VeChain (VET) will rise again?

    VeChain is a supply chain platform based on blockchain technology. The aim of the project is to utilize blockchain technology like distributed governance as well as the Internet of Things to solve the problems that are rampant in the supply chain ecosystem. The project rose to popularity amidst the bull run of 2021 like many other altcoins.

  • VeChain (VET) price prediction: Heading near $1?

    VeChain (VET) price prediction: Heading near $1?

    VeChain (VET) established its all-time high at $0.27 in the previous week. VET coin subsequently suffered from market pullbacks are bearish divergence become dominant in the market. At the time for writing, VeChain stands at a price level of $0.20 – which had observed a decline of 8.07% in the past twenty-four hours. The daily trading volume of VET crypto has increased by 24.23%.

    VeChain (VET) Technical Analysis

    The market sentiment for the thirteenth largest coin in the market is largely bullish as the pullbacks are expected to be minor and temporary. Out of the 26 technical indicators, fourteen are giving out an indication of buy while eight indicators are neutral and only four are bearish with a sell position. The oscillators are neutral while the moving averages are standing at a strong buy position.

    VeChain (VET) Technical Analysis‎
    VeChain (VET) Technical Analysis‎

    Analyst Trading Shot has identified an upward trend for VeChain (VET) in their price analysis. Per the trader, the one-day 50 Moving Average has been acting as a strong support level for VET crypto since November 2020. The close study of the previous price actions of the coin has also revealed a recurring pattern of pullbacks occurring at systematically increasing Fibonacci levels. The previous pullback, albeit very minor, had occurred at the 3.0 Fibonacci level while the current pullback is at the 3.5 Fibonacci level.

    VET coin appears to have broken out of the market retracements and the trader expects the cryptocurrency to head towards $0.40, followed by $0.60. At each price target pullbacks are predicted to occur. In the long run, the trajectory identified by the trader suggests VeChain to be heading near $1 – the 4.5 Fibonacci retracements to occur at $0.80.

    What is VeChain (VET)? 

    VeChain is a blockchain platform designed to aid the supply chain process. The network utilized distributed ledger technology (DLT) to streamline the information flow in complex supply chains in order to increase efficiency throughout the supply chain.  The aim of the project is to create a distributed business ecosystem with transparent flow of information. VeChain network has two distinct tokens – VET used for governance and VTHO used as gas token.

  • VeChain (VET): A Crypto that extends its network across broader markets

    VeChain (VET): A Crypto that extends its network across broader markets

    VeChain focuses on sustainable energy and is one of the pioneers in the blockchain industry.

    VeChain (VET) is one of the most diversified crypto projects in the market. Since day one, VeChain has had one objective and that is to support sustainable projects and drive the new market space with the go green initiative.

    The technologies and strategies behind the VeChain network have positioned itself as the inimitable enterprise public blockchain provider. For the real corporate world, VeChainThor public blockchain has proven to be the real asset in the market that is being adopted by businesses. The positive edge VeChain has is its solution-building capability through blockchain that copes up with hostile environmental factors.

    What’s Next?

    VeChain (VET) has just collaborated with DNVGL’s client, the sustainable pioneer Resea. The basic purpose of this partnership is to track Resea’s ocean clean-up solution. The digital asset will this agreement as a possible opportunity to provide its blockchain services to restore a green and clean environment.

    By using blockchain, all sustainability efforts can be immutably stored and made visible. VeChain will play an important role in stopping plastic pollution. VeChain has consistently managed to solve mass adoption hurdles, such as preventing unstable transaction fees with its VET-VTHO two-token model and eradicating the threat of congestion with its scalable network that proactively adjusts itself in response to network usage. 

    VeChain has ToolChain, a Blockchain-as-a-Service (BaaS) platform, that provides low development and customizable environment for applying blockchain solutions across different businesses.

    From making its impact from small scale businesses to large corporations, VeChain has come a long way. For instance, it provides its blockchain services across BMW’s VerifyCar to DNV’s MyStory.  

    There will be much need for blockchain in the future. The development of new industries requires the solution-building process guided by blockchain. The fact is that businesses need blockchain and VeChain is ready to deliver its protocol to the new markets in the years to come.

    VeChain is the real-world blockchain that has expanded its ecosystem across masses. The technology is being utilized in different businesses. This is where VET becomes a long-term investment option for investors.

    The increasing demand for blockchain has opened new ways for VeChain to prove its worth in the market. Its successful business applications are surely apart from the rest of the blockchains in the market. There’s a reason the real world chooses to build on VeChain. 

    Conclusion

    VeChain (VET) has much coming up its way for 2021. So, investors need to keep themselves updated and follow the market movements. As we write this, VET was trading at $0.053, up by 11.28% and 7.87% against BTC.