Price Movement – VeChain ( VET):
VeChain is one of the most promising project. The way people are so euphoric shows how bullish this project is in long terms
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At the time of writing, VET is being traded at the price of $0.1745. The price of VET has increased by almost 4.24% in the past 24 hours. The daily trading volume has also increased by almost 83.64% in one day. VET is listed on coinmarketcap at the 22nd spot according to market capital and has a market dominance of about 0.39%.
VET before the crash had achieved it all-time high around the price of $0.2546 in April 2021. It later fell down to the price of $0.057 during the crash and showed a reversal from there. Just like many other coins VET has been fast to recover and is trying to regain all time high level.
VET has a total supply of 86B tokens and has an equal circulating supply of 64.32B coins. VET can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.
Technical Analysis – VeChain (VET)
VET on a higher time frame is highly bullish in nature. The fundamentals of these coins are really good which means that the coin would ultimately survive the worst of the days. But now the price is approaching a very critical level. The price already broke the $0.15 level of resistance which was very critical of the coin. Right now we are already above the order block. The price touched the level again and then it rallied again.
Now the price is coming to touch the level of $0.20 where liquidity is present which can be grabbed by the market before coming down. It can be seen that the price has been respecting the trend line all along. So it can be expected it would do the same as before going up again to break the resistance and on its way to create new highs.
Long Term Prediction – VeChain (VET)
According to wallet investors, the price of VET is highly bullish in nature and is a safe investment, and would continue to grow more and more. According to their predictions, VET will reach a value of $0.265 in one year. For a five-year plan, VET is expected to reach a value of $0.695. But many people think it will be much more than that in the future.