VeChain News Today – Things haven’t been rosy for VeChain VET and other tokens in the cryptocurrency space. The bearish pressure has been so intense that investors have grown skeptical about the future of VeChain. The fact that the price of VeChain VET is falling is discouraging because the platform has a lot of prospects and everyone expected that the VeChain partnerships will support a surge in the price of the token. Why is the price of VeChain falling and what hope is there for the VET token? Will the VeChain Price predictions remain bearish for the rest of the year?
VeChain News Today – VeChain Price Prediction – VeChain Latest Update – VeChain Thor Price Analysis
Over the last 90 days, the price of VeChain has been stuck in the $0.0065 – $0.0088 range. On the 16th of May, VeChain VET moved as high as $0.0088175 from the $0.00600 level allowing traders to get quick returns of their investments. Unfortunately, the downtrend started again and the price of the VeChain VET token fell to the support at $0.0069. There was a strong resistance at $0.0085 and VET hasn’t been able to surge above this resistance for a long time now.
Today, however, amid the market-wide cryptocurrency downtrend, the price of the VeChain VET token fell below the support at $0.0069 and it may fall even lower before the end of trading today. The next significant support for VeChain is at $0.0054. If the price of VeChain VET is able to move below this support, it will face lower lows near-term. Traders who want to make short-term profit may want to reconsider their stance at this point. Those who are ready for long-term returns can take advantage of the bear market and buy the token when it reaches the support at $0.0054.
VeChain (VET) Price Today – VET / USD [ccpw id=”20317″]
If the price of VeChain falls to the $0.0054 level, it will be floating in the oversold region. If you buy at $0.0054, you may be able to gain when it gets to $0.0067. If you don’t sell your profits at this point, you can wait until it gets to the $0.008 level but it’s not clear when this will happen.
VeChain News Today – VeChain Price Prediction 2019 – VeChain Latest Update – Current Price Of VeChain VET
At the time of writing, the price of VeChain VET was $0.006364. This means that it is down by 9.38% against the USD and down by 3.43% against the price of BTC. The trading volume over a 24 hour period is $35,267,127 and the market capitalization is $352,908,763.
It is important to note that the current downturn isn’t limited to VeChain alone. The entire cryptocurrency market is suffering. Apart from the fact that the market is correcting lower following the recent price surge, the regulatory concerns about the Facebook cryptocurrency is also contributing to the bear market. You see the Fed’s Jerome Powell said that Facebook’s Libra is going to be a problem because of privacy, financial stability and some other regulatory concerns he cited. Since he made the comment, there has been a panic sell-off in the market. Hopefully, things will get better in the next few trading sessions.
What do you think about the VeChain Thor price prediction in our VeChain news today? Share your thoughts in the comment section below.