Our VeChain Thor price prediction this year has always been bullish. Even the VET price analysis mainly involved the price of VeChain moving higher against the USD and Bitcoin thanks to the many VeChain partnerships that have been in play. During the VeChain summit, more VeChain partnerships were announced. Unfortunately, these didn’t have a significant impact on the VET price because the entire market was bleeding out and the VeChain token wasn’t an exception. The VET price fell below the support at $0.70 as the bears put serious pressure on the market. In the VeChain news today, things are looking up for the VeChain Thor price prediction.
VeChain News – VET Price Recovers Higher Against The USD – VET VeChain Thor Price Prediction
Some days ago, the VET price fell below the 0.50 Fibonacci retracement level indicating a trend reversal. However, things are looking up now. The bulls are struggling to break above the existing EMAs which would take the price of VET VeChain as high as $0.00800. Right now, according to the VeChain technical analysis on Bitcoin Exchange Guide, there are support levels at $0.005000, $0.005500, $0.006000. On the other hand, there are resistance levels at $0.007500, $0.008000, and $0.008500.
The price of VeChain is currently bullish against the USD and Bitcoin. There will most likely be higher highs this weekend. You’ll recall that the highest high this month was $0.008000. After the bulls surged to this level, they faced resistance and the price started correcting lower against the USD. The VET coin price ended up falling lower against the USD until it fell below the 26 day EMA. The bulls attempted to take over but the bear grip was too strong.
At the time of writing, the price of VET VeChain was $0.006122. This means that it is up by 1.63% against the USD and up by 1.72% against the price of BTC. The trading volume over a 24 hour period is $12,532,573 and the market capitalization is $339,486,501.
VeChain Thor Price Prediction – VeChain Partnerships Continue To Support The VET Price
Since the beginning of this year alone, VeChain has sealed many deals. Adding new deals to the list of VeChain partnerships have helped support the price of VeChain amid a bear market. Between January and now, the price of VeChain is up significantly against the USD. During the VeChain summit, the CEO of the company announced that professional services firm Deloitte will be migrating from Ethereum to VeChain. He also said that BMW will be using the VeChain blockchain for its VerifyCar service. Let’s not forget that the VeChain nodes will be used by the producers of Game of Thrones to track sneakers that are based on the show.
VeChain (VET) Price Today – VET / USD
VeChain is also going to dominate the global supply chain industry which is currently worth more than $50 trillion. When this happens, the demand for the VET coin will increase significantly along with the price of VeChain. Already, the supply chain giants are slowly migrating to blockchain technology and the VeChain Thor blockchain presents the perfect opportunity for business to easily integrate blockchain technology in the supply chain. The impact may not be noticed today or tomorrow but it will be noticed in the next few years. So, VET VeChain is a high value asset with strong growth potential.
What do you think about the VET price, VET Thor price prediction, and VeChain future forecast in our VeChain news today? Kindly share your thoughts in the comment section below.