Price Analysis

With a 12.48% Jump Will VET Embark on an Affirmative Trade?

  • VeChain price has managed to have a good upward trend to the extent of 12.48% on Nov 07

VeChain (VET) price has been under bear pressure for most part of this year. The price has been continually in the lower range. However, the past one-day price chart indicates a lot of downward and upward fluctuations for the coin with the price of VET moving in the range of $0.0051–$0.0058.

VeChain Price Analysis:

VeChain price had performed exceptionally well, as seen from the one-day price trend on Nov 7, even when the crypto market was under solid bearish pressure. The price of VET was at a low of $0.0051 at 00:51 UTC. The price notably traveled upwards to the extent of 7.95% at 8:58 UTC to trade at $0.0056. The price had a low moment when it fell to $0.0052, the fall being 7.15%. The price oscillations continued, and the price went on an upward rally of 12.48% to trade around the price area of $0.0058 at 14:21 UTC. At 23:31, the price of VET again fell to $0.0056, and the fall was to the tune of 3.12%. VET had a good day yesterday; it has to be seen whether it will be able to sustain this momentum in the days to come.

VeChain Price
VET Chart By TradingView

VeChain price has been undergoing a lot of variations due to the continuous crypto market volatility factor. The bears are in no mood to relent, and the price of VET was being continually hammered, but in the past one day on Nov 07, the price showed some positive upward movements. VET will be able to perform well if it could maintain this momentum in the short run, according to analysts.

Long-term investors should continue to hold on to their investments as now there is too much volatility in the crypto market, and they could incur losses if they take any trading actions.

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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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