Price Analysis

VeChain Records Significant Hike of 13% Since the Last Week

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VeChain was traded at $0.00419107 on August 21, 2019, post which it began to rise rapidly, and price reached the highest trading price of $0.00504558 on August 25, 2019. However, since it was not able to maintain its efficiency, VET coin gradually started to decline. Despite the few rises in the first week of this month, VeChain price reached as low as $0.00359908 on September 13. Though it has risen upwards since the fall, the current trend indicates that price may fall marginally in the near future.

VeChain Price Analysis:

VeChain Price Analysis
VeChain Chart By TradingView

VeChain (VET) indicates an upward rise of 13.77% as compared to the price of September 13, 2019, when it was priced at $0.00359908. However, as per the current trend and our analysis, the VET price may fall marginally and may find support at $0.00401.

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It is advisable to purchase new coins today as per the current trend. VeChain may be traded in the range of its immediate support and resistance levels of $0.004136 and $0.00433 today. The CMF indicator also points out that the movement at present indicates a downward trend. We recommend investing in the coin with a long-term focus as trading on short-term basis may not be that fruitful.

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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