Price Analysis

Will Bears Continue to Take A Dig at VeChain (VET)?

VeChain price did not have a good start to the year, and the price was below the baseline. The price started picking up in April and reached its peak in July. With the onset of the bearish trend, it was downhill for the price and has been below the baseline ever since. The YTD price chart for VET shows price fluctuations in the range of $0.0035 – $0.0086.

VeChain Price Prediction

VET price started the year below the baseline and was at $0.003548 on February 05. The price was at the lower end, but then the crypto market took a bullish turn, and the price saw an upward trend. VeChain price reached a high of $0.007616 on April 08, showing an upsurge of a whopping 112.67%. During May 12, there was a fall in the price of VET coin to the extent of 19.19% at $0.00617. The bulls got stronger again, and the price rallied to a high of $0.008655, indicating a rise of 40.80%. July saw the bears taking charge of the crypto market, and the price took a turn for the worse and has been below the baseline since then. On October 15, VET price was at $0.003671, the downward movement being 57.58%. There seems to be no respite from this bearish trend though the price is trying to get into the upper range as seen from the, of today, which is at $0.005392, the upward swing is to the tune of 45.95%.

VeChain Price
VET Chart By TradingView

VeChain is still struggling to hold its ground as the price is continually under market pressure. With the crypto market volatility to continue, the short run, there seems to be little improvement in the price of VET. Analysts, however, expect the crypto market conditions to improve by the year-end and, subsequently, expect VET price to gain an upward swing. Current investors can consider this crypto market volatility for making or holding investments for the long-term.

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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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