VeChain Moves To The Red Zone After Trading In Green For Three Days In A Roll, Will VeChain Go Up Again?

VeChain News Today – VeChain spent the last three days trading in green even when many other altcoins were trading in red. In our VeChain news yesterday, we talked about how the VeChain Thor price prediction was bullish and how the price of VeChain will most likely hit $0.090 near-term. Well, VeChain successfully traded above the 200-day moving average yesterday and it was near its 2019 high. Even if the price of VeChain is currently correcting lower against the USD and BTC, there is a high chance that VeChain is going to bounce back soon and retest the 2019 high. How high will VeChain go when the bearish wave subsides and the bulls regain control of the market? Will VeChain recover? 

VeChain News Today – VeChain Thor Price Prediction 2019 – VeChain Thor Price Forecast – VET/USD

VeChain formed a head and shoulders pattern yesterday and was waiting for the formation of a right hand shoulder to confirm a bearish pattern. The good thing is that the technical indicators show that the bulls are going to keep supporting the price and encouraging a surge against the USD. The VeChain to USD trading pair is now falling and will most likely test the May lows before the bulls resume with full force. The relative strength index was bullish until this morning just like the MACD.

VeChain (VET) Price Today – VET / USD

NamePrice
bitcoin
Bitcoin
$18,767.15
vechain
VeChain
$0.017

Over the last three days, VeChain gathered bullish momentum due to all the positive fundamentals surrounding it. Recently, the VeChain Foundation announced the launch of a supply chain management application for BrightFood. This was around the same time that they announced that the VET token is available on Crypto.com. This move is going to support VET’s liquidity.

Mid-term, the price of VeChain VET is bullish against the USD and BTC. As long as it remains above the 200-day moving average, there is hope for the price of VeChain to bounce back with full force. The technicals shows mixed signals between bullish and bearish waves. There is no clear signal at the moment. The VeChain Thor price prediction on Crypto Briefing advises traders that the neckline of the inverted head and shoulder pattern is holding the most significant support.

VeChain News Today – VeChain Thor Price Prediction – VeChain Latest Update – Current Price Of VET

At the time of writing, the price of VeChain VET was $0.007701. This means that it is down by 3.14% against the USD and down by 4.73% against the BTC. The trading volume over a 24 hour period is $19,344,996 and the market capitalization is $427,046,737. There is still a high chance that the price of VET will recover higher before the end of trading today and that it would move above the $0.0900 level before the end of the year. The best thing to do now is to buy when the price is relatively low and wait for the bulls to reclaim control of the market. The future of VeChain is bullish. It’s only a matter of time until it reaches its full potential.

What do you think about the VeChain Thor price prediction in our VeChain news today? Share your thoughts about the price of VeChain in the comment section below.

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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