Is VeChain Dead? VeChain (VET) Falls Below Key Support Paving The Way For Lower Lows

VeChain News Today – The entire cryptocurrency market took a hit during the week with prices falling significantly along with the flagship cryptocurrency, Bitcoin. Thankfully, a recovery started and the prices started to surge higher. While BTC, ETH and XRP surged, VeChain VET struggled to record gains against the USD to no avail. In fact, the price of VET fell below the key support level risking lower lows. The bearish trend doesn’t have an end in sight. It will most likely continue indefinitely of care is not taken. Why is VeChain price falling even if the VeChain Thor price prediction 2019 is bullish? Most importantly, why is the price of VET falling despite all the VeChain partnerships that the VeChain Foundation sealed recently.

VeChain News Today – VeChain Price Prediction – VeChain Thor Price Prediction – VeChain Continues To Fall

In our previous VeChain news, we said that the price of the VET token was going to test the $0.0100 level near-term if the bulls are able to find a grip in the market. Unfortunately, this hasn’t happened. In fact, VET has been unable to rise above the $0.0080 level and has lost key supports against the USD. For starters, there is hardly a week that goes by without VeChain being in the news for sealing one new deal after another. So, why are these VeChain partnerships not affecting the price of the VET coin?

Another factor that was supposed to contribute to a surge in price of VET is the VeChain mainnet launch anniversary. A few days ago VeChain announced to the cryptocurrency community that it would be marking the anniversary of its mainnet launch by updating the VeChain community about the progress it has made so far with some of its partners. The tweet was as follows;

“To celebrate the one year anniversary launch of the VeChainThor Blockchain, we’d like to update the community on the progress of some of our partners. iTaotaoke is the first one in the ‘Partner Update and Spotlight Series”.

VeChain (VET) Price Today – VET / USD

NamePrice
bitcoin
Bitcoin
$8,185.271.93%
vechain
VeChain
$0.00340.385%

Everyone was expecting that the price of the VET coin will increase right after the announcement was made. However, nothing happened. Instead, it fell lower and lower. Over the last four days, the price of the VET token is down by more than 7%. In fact, according to CoinMarketCap, the ROI for VeChain VET stands at 53.32%. VeChain must break the loop if it is to break out of the bear trend. Unfortunately, there are no signs of recovery at this time.

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

At the time of writing, the price of VeChain VET was $0.006940. This means that it is down by 1.79% against the USD and down by 6.95% against BTC. The trading volume over a 24 hour period is $32,684,596 and the market capitalization is $384,853,802. The price of the VET coin will most likely fall below the support at $0.6800 this weekend.

While the VeChain Thor price prediction is still bullish long-term, it is important to note that short-term trades may lead to losses. So, proceed with caution until the price starts to recover.

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

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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