According to the VeChain VET price analysis on Captain Altcoin, the price of VET has formed a descending trendline against the USD. It was initially in the middle of the upper line and the bottom. If it is able to surge above the resistance at 109 satoshis, this level would be converted to a support level against the USD. This is when the bulls will recover their control over the market.
It is important to note that VeChain isn’t the only altcoin that is being outperformed by the BTC. Bitcoin has been surging higher in a rally above $6000 for a while now. This time, it didn’t carry all the altcoins along. This is why it’s market dominance reached a 7-month high above 56% a few days ago.
Even at the current price, VeChain still has strong buy pressure. Also, the VeChain Thor price prediction for the rest of the year is bullish against the USD. There are strong fundamentals like the VeChain partnerships that would eventually reflect on the price of the VET coin. So, it’s a good idea to keep holding on to your VET coins. Before the end of the year, the $0.1000 VeChain price prediction may happen per our previous VeChain news.
VeChain Price Prediction
VeChain (VET) Price Today – VET / USD
| Name | Price |
|---|---|
 | $0.00 |
 | $0.00 |
At the time of writing, the price of VeChain was $0.006293. This means that it is up by 1.26% against the USD and down by 1.70% against the price of BTC. The trading volume over a 24 hour period is $12,798,170 and the market capitalization is $348,960,270. Over the last 30 days, the price of VeChain is down by 6% against the USD and down by 27% against the price of BTC. It is important that the price of VeChain moves above the current resistance against the price of BTC to avoid more losses.
VeChain VET Price Analysis
As you probably already know, VeChain is one of the most promising projects in recent time. Ever since the VeChain token swap and VeChain mainnet launch, it’s been one good news after another for the VET coin. Due to the development and VeChain partnerships, the VeChain Thor price prediction is bullish mid and long-term. However, the VeChain to Bitcoin price prediction is bearish short-term as it has just lost a major support against the USD. This support at 107 satoshis was established in December. However, it was lost this morning and it has weakened the VeChain VET to BTC trading pair. What does the future hold for VeChain? Will the VeChain Thor price prediction improve this year or will it continue to fall against the USD and BTC?
According to the latest VeChain VET price analysis on Cryptonewsz; the market sentiment is positive for VeChain as the company has inked some strategic partnerships over the past few months. The collaboratihttps://www.cryptonewsz.com/price-analysis-of-vechain-on-8th-may-2019/18126/on with BMW marks the platform’s entry into the large automobile space. Soon, the outcome of this will be reflected in the overall worth of the coin as it climbs up the coin ladder. The immediate trend in the next few quarters looks bullish if VeChain stands its ground.
The next resistance level will come at 0.010 USD by the end of the quarter and the value of the coin should be between 0.020 USD to 0.050 USD. By the end of 2020, the price of the coin should reach over 1 USD.
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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.
