Price Analysis

VeChain Price Analysis: VeChain (VET) announces buyback; will this result into a flourishing future?

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VeChain (VET) price got caught in the market pressure and is hovering at a lower level. The coin is at the 30th position and is trading at $0.0076. The recovery in the price is not expected to take place any time soon as the coin has already manifested a 16% downtrend in last 5 days.

However, the brain behind is planning to buy back VeChain. The same is indicating that the coin is expected to rise in the coming period. The traders can expect good numbers later and can dig in for long-term investment.

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Let’s have a look at the price chart of VeChain.

Current Statistics of VeChain:

The price chart of VeChain is taken from Trading View on 06th July 2019, at 03:55:51 UTC for price analysis.

VET

Looking at the three-months chart of VeChain, the momentum is indicating a moderate improvement in the coin. The coin started with $0.0060 in the month of April and booked 9.74% profit during the month. May was a wild month for the coin. VeChain touched the lowest price of three months $0.005 and also the highest price of the month $0.008. The growth in price was of 16.16% as the price changed from $0.006 to $0.007. June was a power packed time for VeChain. The coin jumped till $0.010 from $0.006 in 10hr. The same was registered as the highest price counter in three months. July has turned out to be disappointing until now. However, we have high hopes that the coin will pick up soon.

Summary of the statistics:

  • The current trading price of the coin is $0.00760070 USD.
  • The 24hr volume of VeChain is $56,592,235 USD.
  • The market cap of the coin is $423,628,999 USD.
  • The circulating supply of VeChain is 55,454,734,800 VET.
  • The coin is at the 30th rank in the crypto market.
  • The return on Investment (ROI) is marked as -49.21%.

Price Prediction and Conclusion:

VeChain would complete the buyback within a year. The future of the coin is expected to be bright. By the end of July, the coin might be hovering around $0.015. Towards the end of 2019, the coin may trade beyond $0.0090.

The short-term investors are recommended to diverge the investment to deteriorate the risk. The long-term investors can go long and expect higher dividend in return.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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