Price Analysis

VeChain Price Analysis: VeChain (VET) Has Shown Some Stability In The Last Two Days

In a recent interview, the COO of VeChain Foundation, Kevin Feng, elaborated about the future roadmap regarding the scalability problem of the VeChain. VeChain built a lot of use case while working directly with large companies till now, but their next step is to release a toolchain for enterprise clients.

Current Statistics of VeChain:

  • VeChain price was trading around $0.00458802.
  • Against Bitcoin, the VET coin was valued around 0.00000045 BTC.
  • Additionally, the Market Cap of the VeChain was around 257,730,203 USD.
  • The 24-hour trading volume in the altcoin was 26,243,907 USD.
  • With an ROI of 69.10% (but in the negative), 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 26, VeChain was trading around 0.00605792 USD. However, today after 25-days, the crypto coin has declined by 24.26% from its earlier value. In the weekly trading as well, the altcoin has gone down by a margin of 10.46% from the level of 0.00512074 USD on August 13. Nevertheless, the movement of the VeChain in yesterday’s trading was a bit of consolidating one. It opened yesterday at 0.004475 USD and with a strengthening of 0.95%, closed the day at 0.004518 USD.

VeChain Price Prediction & Conclusion:

The declining trend in VeChain has stabilized a bit. As per past data and analysis, the VET price might cross it’s 30-Day high value 0.006413 in few weeks. As of now, the immediate resistance for the coin is at 0.0048 USD, and the support level is at 0.00445 USD.

Surpassing the declining trend of more than two weeks, VET coin has shown some recovery. And the latest comment by Kevin Feng cleared the cloud regarding the future of the VeChain. But for now, the long-term investment might be helpful to gain considerable profits.

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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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