Vechain Price Forecast: VET Price Forecast A Gain Of 20% In The Future

VET bulls are getting ready for a new run
  • VET price is currently in a parallel channel with a gain of 3.42%. Meanwhile, the VET/BTC pair is at 0.000001581 BTC with a gain of 1.71%
  • The S2F number for VET is negligible in comparison with the other altcoins. In Contrast, the technical indicator suggests an uptrend.

Vechain has seen a gain of more than 100% from the start of this year. VET price forecast a gain of more than 40% in upcoming days. Vechain is a blockchain-powered supply chain platform that is boosting the efficiency and traceability of the current system. It was launched in 2015 and has seen an ROI of 480% since its inception.

VET is currently ranked 19th with a market capitalization of $7,616,621,566.The volume( $1,201,440,835) of the coin has seen a loss of 16.07%.The volume to market capitalization ratio for the coin is 0.214. If it crosses above 0.8, then a huge buying rush can be seen.

Technical Indicators Hints A Bullish Move For VET Price Forecast

Source:Trading view
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The weekly technical chart of the VET showcases bearish momentum. The daily chart of the VET Price forecasts a bullish sentiment. Vechain price is trading above 50 and 100 Moving average. The 50MA(RED) line is at $0.055, making it temporary support for the coin. Resistance for the coin on the upside is at $0.094 while coming on to the downside, and the bounce-back can be seen from $0.08. A downward parallel channel is formed on coming to the shorter time frame of 4 hr chart. If the price breaks 10% above the parallel channel, then there is a good chance that the price will see momentum up to $0.15.VET/BTC pair can also see a gain of 20% in the upcoming months.

RSI(Bullish): It is trailing at 53.73, showcasing its presence in the neutral zone. There is a positive slope formation in the RSI, highlighting that the price can see a strong uptrend. The overall sentiment of RSI is bullish.

Conclusion 

VET price forecast a great future while disrupting the supply chain ecosystem. Vechain use in agriculture has crested the investor’s interest. The VET/BTC pair can also see a great return in the future. An investor should do their due diligence before investing

Technical Levels

Major Resistance:$0.094

Major Support: $0.08

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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