VeChain (VET) Price Falls Below The Support At $0.007, What Does It Mean For The VeChain Prediction 2019?

VeChain news has been positive since the VeChain token swap happened after the VeChain mainnet launch. The VeChain Thor price prediction 2019 was also positive due to the positive developments and partnerships by the VeChain Foundation. However, over the past 24 hours, the price of VeChain has been falling against the USD. Eventually, it fell below the resistance at $0.007 and continued declining against the USD. What does this VeChain VET price decline mean for the VeChain price prediction 2019?

VeChain Thor Price Prediction – VeChain News – VeChain VET Coin Bearish Short-term

Typically, altcoins are unpredictable during the weekends. One weekend they can be bullish and the next weekend bearish. This weekend has been bearish for altcoins. Even when the price of Bitcoin was gaining against the USD, some altcoins, including VeChain, have been recording losses. This is in line with the VeChain Thor price prediction that was posted on The Markel yesterday. The analyst predicted that the price of VeChain VET will fall below 0.007. At the time of writing, it was trading at $0.006909. This means that it is down by 3.02% against the USD and down by 2.93% against the price of BTC. The trading volume over a 24 hour period is $11,828,720 and the market capitalization is $383,121,646. The bears are determined to continue putting pressure on the market.

Keep in mind that the current price action of VeChain doesn’t make the VeChain Thor price prediction 2019 invalid. The VeChain VET token still has the potential to reach higher highs this year. As long as VeChain news continues to be positive and the blockchain keeps attracting partners, the VeChain Thor price prediction long-term will remain bullish. The project has crossed many milestones since it started about 18 months ago. These milestones have all influenced the price of the VET coin positively just like the VeChain partnerships.

VeChain Thor Price Prediction – VeChain News – VeChain Partnerships And Grant Pool

In the past week, VeChain was trending because of its partnership with the producers of Game of Thrones. In the coming week, another huge achievement is expected to lead to an increase in the price of the VET token. Sunny Lu announced that the VeChain Foundation would be launching a $500 million grant pool. This grant pool would be used to incentivize businesses and developers on the VeChain Thor blockchain. Draper Network announced that it is happy to support VeChain as it changes the world.

There are many people within the cryptocurrency community who believe that the VeChain VET token is undervalued due to the achievements of the blockchain and the VeChain Foundation. One user with the handle @danka72italy said;

“@Vechain1 @vechainofficial is really undervalued! It can explode and reach 1$ in few days!!!!! Great collaboration with governments, Italian ministers ready to collaborate and a lot of new partnership!!! A must have!!! @vechainitalia #VeChain #vet #ven #cryptocurrencies”

VeChain (VET) Price Today – VET / USD

Name Price24H (%)
Bitcoin (BTC)
$10,473.00
-1.65%
VeChain (VET)
$0.005849
2.34%

Unfortunately, the market makers think otherwise. Adoption of the VeChain blockchain hasn’t triggered a corresponding rise in price. At least not yet. Does this mean that the price will not move higher against the USD? No, it doesn’t. VeChain VET price has the potential to reach higher highs this year and beyond. So, traders should not be discouraged about the current price action as it doesn’t influence the VeChain Thor price prediction permanently.

What do you think about the VeChain news today? Will the current price of VeChain influence the VeChain Thor price prediction 2019? Share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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