What is VeChain (VET)?
VeChain is a blockchain-based supply chain management technology that allows companies to manage their global supply networks by steadily generating unique digital IDs for each product. This is managed by keeping an eye on the movement and authenticity of items from raw materials to final goods.
The VeChain blockchain also targets reducing fraud, added trust, and efficiency in the overall company and that’s why top global businesses like BMW, Walmart, BYD Auto, Bayer, and LVMH are using this blockchain technology.
VeChain has 3 types of levels: blockchain, wallet, and tokens [two different tokens: VeChain Token (VET) and VeChainThor Energy (VTHO)]
The network is composed of nodes (transactions are processed by these nodes). Nodes are controlled by token holders who can vote for projects that will be developed within the VeChainThor Network.
VeChain Fundamental Overview
Before analyzing the Vechain Price Prediction you should understand the fundamentals.
|52 Week High-Low||$0.1875 – $0.0329|
|Mechanism||Proof of Authority|
|Listed on||More Than 30|
|Max Transaction Capability||10000+ Per Second|
|Average Transaction Cost||Variable (Depend on Demand & Supply)|
|Current Circulating Supply||71.51B VET|
|Maximum Supply||86.71B VET|
|Web & Social||Vechain.org @Vechain, r/Vechain, Linkedin/Vechain, YouTube/Vechain, Insta/Vechain|
VeChina Price Prediction For Aug 2022
In the last 50 days, Vecain (VET) created a box pattern where the price was consolidating between two levels of $0.02690 – $0.02100. Recently, the daily candle closed above this box, indicating a breakout; if this level sustains itself, Vecain will likely go for a big move up to $0.04470.
However, if the price is rejected again, it will return to the side zone mode. You should consider this as a No Trading Zone and wait for a better opportunity to trade again.
Vechain Long-term Realistic Prediction (2022-2025)
On the weekly chart, we can see that Vecain (VET) has dropped by more than 90% over the past 15 months. At the moment, it finds support at around $0.0200, which will also act as a resistance zone in August 2020. Currently, in my opinion, it’s in a recovery state, and a big move could happen.
The support range is between $0.020 and $0.025; if the price rises, the next resistance range is around $0.044. However, in the rejection face, the next area is $0.010 if the price cannot hold the support zone and the 1W Candle closes below $0.020. Also, there may be strong chances for a complete rebound up to $0.27 if prices maintain the next level of $0.044.
High Chance of VET Recovery
Long-term price movements follow a Zig-Zag pattern, also known as Higher High – Higher Low (For Up Side) and Lower Low – Lower High (For Down Side). Anyone can see in the ablow chart that currently Vechain (VET) at LL and LH pattern which indicates every significant fall requires some reverse momentum.
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VeChain Historical Price History
|Date||VET Price Event|
|VET Current Price||$0.0329|
|May 2021 to Now||Bear Market Enter And Price Fall 90% ($0.020 Lowest)|
|April 2021||Jump Almost 20x with a High of $0.26|
|Jan 2021||First Time Cross The Previous High $0.02791|
|Dec 2018 to Dec 2020||Sideways Moment ($0.002247 Lowest Price)|
|Dec 2018||Touch a Low of $0.003379|
|Sep 2018||Make a High of $0.01947|
|June 2018||Trade on Exchange $0.013|
The current price of (VET) VeChain Coin is $0.0329
You can use the Relative Strength Indicator with a comparative symbol of BTCUSD In TradingView.
How far Vet Coin can reach depends entirely on how many businesses use this blockchain technology and conduct transactions. But if the cryptocurrency is a future and the VET closes above the $0.28 price level mark based on the weekly chart, then it has a good chance of reaching $1 as soon as possible.
Many businesses use Vechain Blockchain Technology to easily track their products across the multi-level global supply chain. As platform VE T doing well but currently Vechain trading for roughly 90% less than its all-time high price, so as crypto investors, we should be alert before making any investing decisions.
There are many platforms like Binance, Coinbase, and ByBit where you can buy & sell Vechain Crypto.
Everything is possible and also not, things work on cause and effect. Talk about crypto so everything happens on how much acceptance you have, let’s say if all companies use the Vechain Blockchain Platform to track their products on the global supply chain then yes it may cross the $10 price mark easily.
Because no one can predict 2030, the question is foolish. As a trader or investor, we should concentrate on the risk-reward trade ideas for today, this week, and this month rather than what will happen in 8 to 10 years. We should make our trades based on fundamentals, logic, and market sentiments.