VeChain (VET) Eyes a Surge to $0.25 – Price Prediction


  • VeChain is a blockchain platform focused on enterprises.
  • The altcoin saw a crucial resistance around $0.1420.
  • The coin has chances to bounce back in the short term.

VeChain (VET/USD) has had pressure over the recent sessions as the crypto rally appears to pause. For now, VET’s price stands at $0.1163, a level beneath its weekly high at $0.1420. Meanwhile, the altcoin has an overall market cap of over $7.5 billion.

VET Rally Pauses

VeChain blockchain aims to serve enterprise customers. The platform helps firms in logistics, retail, finance, and agriculture solve their critical challenges. Some recognizable firms that embrace the VeChain platform as Walmart and BMW.

The platform’s activity appears to support the coin’s future. For instance, the developers revealed another vital user of the network this week. They announced that an Arizona agriculture firm Oatman Farms would utilize the VeChain network to upgrade its logistics. The agriculture company will use a VeChain product, StoryBird.

Oatman official Dan Hansen stated that the company adopted StoryBird to handle its organic and farm mixes. The technology differentiates and shows the farming practices, finished goods, and ingredients with transparency, flair, and clarity.

Like other alternative coins, VeChain has registered lucrative moves since it claimed reliable support near $0.5730. The token has climbed by over 105% from the March lows. The bullish moves came as the leading cryptocurrency, Bitcoin, registered value gains. BTC enjoyed recoveries past $48,000 after dropping beneath $30,000 in July sessions.

Most alts have surged recently. For instance, Cardano managed to recover its June and May losses. Also, Binance Coin and Ethereum had their valuations increasing as the market crossed over $2 trillion.

Price Prediction

According to the daily price chart, VET’s price rises towards the critical resistance zone at $0.1420. Keep in mind that this was the coin’s highest mark on 3 July. VET also moved over the 25 –d and 50-d WMA (weighted moving averages). The RSI moves away from the overbought territory.

With the current condition, VeChain (VET) might bounce back in the coming sessions as investors aim to overcome the resistance zone at $0.25. Meanwhile, plunges beneath $0.093 will nullify this narrative.

Feel free to share this article.

Leave a Reply

Your email address will not be published.


Asia-Pacific Stocks Gain with Investors Weighing Economic Concerns

On Tuesday, shares in the Asia-Pacific region climbed higher, as investors were weighing the economic concerns. Most indexes record gains The Hang Seng index in Hong Kong had been trading at a loss but rose 0.7% in the last hour of trading. There was also a 0.73% gain in the Hang Seng Tech index. On […]

European Shares Reach Two-Week Highs Thanks to Miners and Prosus

On Monday, European shares rose to a high of two weeks, thanks to mining stocks as China lifted COVID-19 curbs, which gave global commodities a lift and also eased fears of inflation. Meanwhile, Prosus’ plans of trimming its stake in Tencent saw the Dutch company’s stock rally. Index records gains There was a 1.1% gain […]

Stocks Climb Up after Recent Big Gains, as Yields and Oil Rise

On Monday, volatile trading pushed global indexes higher, for the most part, allowing them to extend the sharp gains recorded in the previous week. Meanwhile, there was also a rise in Treasury yields and oil prices. Oil records gains After the rout seen in the previous week, oil finally managed to climb up, as investors […]

When Multiple Tokens Experience Demises, a Stablecoin Demonstrates a Strong Performance

When Multiple Tokens Experience Demises, a Stablecoin Demonstrates a Strong Performance

In recent weeks, the borrowing and lending spaces within the cryptocurrency industry have come under the microscope of regulators. These spaces have undergone scrutiny in recent months and the reason behind the growing pressure is the sell-off observed in the crypto-verse. Now, the investors and users within the cryptocurrency industry want to know exactly how […]

European Shares End Nervous Week on a Strong Note

On Friday, there was a 2.6% rise in European stocks, which helped them enter positive territory. The week saw investors moving into riskier assets, as they began to scale back on bets of central bank tightening. Best Session for Indexes The STOXX 600 index of European countries recorded its best session in over three months. […]