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Vechain Price Analysis: VET keeps struggling as bears hold back

Although the crypto market in the trading period of a few days ago was seen dealing with the bulls, the momentum didn’t last long.

Despite the market’s uptrend, there has been little improvement in the coin’s value. However, the bulls not at all seem to be in favour of the VET. This is so because just after a few days of VET meeting the uptrend, the coin faced enormous bearish moves along the way and, truth be told, the VeChain’s price is still falling.

There’s also no coin expectation of improvement by the end of the day, today.

The coin reached a high at $0.003962 as per yesterday’s graph and a low at $0.003729. As far as the volume of the crypto is concerned, on September 6, 2019, it was found to be around $31,067,451.

Vechain Statistics

Before evaluating this crypto’s depths, let’s look at where it currently stands.

Vechain VET was noted trading around 0.003818 USD which is enormously low when compared to its previous prices.

At this point in time, the market ranking of the crypto was found to be at 35th rank. The ranking has also fallen down as the crypto is unable to perform well.

The ROI of the crypto lies somewhere near -74.61% whereas the 24 Hour Volume was 32,773,345 USD. Moreover, the market capitalization of the firm was found to be 211,748,875 USD

As far as the Total supply and Circulating Supply is concerned, it is around 86,712,634,466 VET and 55,454,734,800 VET respectively. Whereas the 7 Day high as well as low was found to be 0.005306 USD and 0.004395 USD.

Vechain Price Analysis

Considering the very recent graph of VeChain, one can clearly observe that the price chart shows a downward trend in the coin. Just a few days ago, the cost of VeChain opened with a 3.03 percent uptrend and moved from $0.0039 to $0.0040.

Soon after that, the VET began to slip with a significant fall of 5.71%. The cost changed 5.71 percent from $0.0039 to $0.0037. VET fell to $0.0037 and the day was closed. Keeping all the facts and figures in mind, the day booked around 4.98% regression. However, on 7th September, the VET began with a 2.83 percent uptrend and countered a $0.0037-$0.0038 change. From morning until now, the coin has held it the same.

According to an analyst on Trading view, Sonic Trade the Vechain VET price is drawing a bullish wedge and RSI is forming a bullish divergence. There are zones of interest and targets mentioned in the chart. 

Vechain Price Prediction 2019

Well, there is no denial in the fact that VeChain has terribly suffered for quite some time on the market.

In fact, truth be told, the latest fall in prices has somehow or the other influenced the coin as a whole, and no matter what but one can clearly notice that VET would take some time to get back on its true track. Therefore, with all that awareness in mind,  VeChain’s intraday trading (VET) is undoubtedly an investment that has all the bears now and one should not go for that.

However, if invested with a long-term plan in VeChain, the future will have some incredible results. The coin is expected to bring in 4 percent to 5 percent profit in the coming years.

It is suggested that traders go for long-term VET investment. The same would offer the expected outcome to them.

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About Zaryab Afser

A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

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