Price Analysis

VeChain Price Analysis: VeChain (VET) drops in the intraday market; Price hovers around $0.0052

  • VeChain price drops in the intraday market.
  • The coin may recover in the second half of the day.

VeChain (VET) is currently suffering from the bite of a bear. Where the rest of the market is surging, VET is slipping down. Well, the drop could be temporary. Bitcoin (BTC) opened with a hefty upsurge. We are anticipating that the coin will anchor many other coins along with it in the upsurge including VeChain. The coin is anticipated to close with a recovering price.

Let’s have a look at the chart.

VET/ USD Price Chart:

The chart is taken from Trading View on 05th August 2019 at 05:01:26 UTC for price analysis.

VeChain Price Prediction- August 05
VETUSD Price Chart by TradingView

Yesterday, the coin opened at $0.0054. The currency escalated to $0.0055 by 2.59%. Further, VET slipped from $0.0055 to $0.0053 by 3.94%. There was one more drop in the coin as it changed counters from $0.0054 to $0.0052 by 4.01%. The intraday loss in the coin is 0.39%. Today, the coin escalated from $0.0053 to $0.0054 by 1.61%. The coin couldn’t hold itself at the level and fell to $0.0052 from $0.0054 by 4.88%.

VET to USD Market Statistics:

  • The price of the coin is $0.00532295.
  • The ROI is marked as -64.21%.
  • The coin is ranked at the 33rd position in the crypto market.
  • The 24hr Volume stands around $23,256,472.
  • The market cap is noted as $298,537,163.
  • The circulating supply has 55,454,734,800 VET.

VET Price Prediction and Conclusion:

VeChain (VET) price is currently suffering in the market. The current price momentum could be disappointing, but soon the coin would recover in some time. The traders can dig in for profits for the long-term investment. In the coming year, the coin be seen dealing with a profit of 4% to 5% in price. The currency could close the year around $0.01.

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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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