Price Analysis

VeChain Price Analysis: Plunge In VET Coin Is Going On, Fresh Guideline Is Introduced In Jur Project

After launching the new legal project on OceanEX GO platform, i.e., Jur, VeChain foundation has now introduced a set of rules for subscribing the project resources.

Current Statistics of VeChain:

  • VET price was trading around $0.00448122.
  • Against Bitcoin, the VeChain was valued around 0.00000044 BTC.
  • Market Cap of the VET coin was around 251,918,300 USD.
  • 24-hour trading volume in the altcoin was 22,257,150 USD.
  • With an ROI of -69.80%, the number of VeChain coins circulating in the market was 55,454,734,800 VET.

VET to USD Price Comparison:

Vechain Price Prediction
Vechain Price Chart by TradingView

On July 23, VeChain price was trading around 0.00635597 USD. However, today after 25-days, the crypto coin has declined by 29.49% from its earlier value. In the weekly trading as well, the altcoin has gone down by a margin of 8.28% from the level of 0.00500624 USD on August 10. The digital coin has made a similar movement in yesterday’s trading as well. It opened the other day at 0.004715 USD and with a decline of 3.25%, closed the day at 0.004561 USD.

VeChain Price Prediction & Conclusion:

The declining trend is persistent in VeChain, and most probably will go on for little longer. For now, staying away from the crypto is the right option. As of now, the immediate resistance for the coin is at 0.00473 USD, and the support level is at 0.004426 USD.

VeChain is mainly focused on business-to-business exchanges unlike most of the cryptocurrencies. As far as trends are concerned, the short-term is utterly bearish. Besides, one might get some returns in the long-term if VeChain coins are bought at the current level.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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