The cryptocurrency market prices are surely uncertain and prices of currencies always going up and down. The cryptocurrency market is currently under correction value. The cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin and VeChain are facing bearish trend. VeChain is in the front news because of its alliances and value forecast. VeChain is enjoying bullish movements in its price this year.
The present value of the currency is bearish, but all over the price of the VeChain is positive. The currency was able to keep stability in the bullish trends for a long time. The experts are predicting that the VeChain’s value will go up.
Current Status of VeChain Thor (VET): Vechain’s current ranking is 28th in the cryptocurrency market. The trading value of the VeChain is $0.007220 USD and it is currently experiencing the downfall in its value by -4.06%. The market capitalization of the currency is $400,393,479 USD and the 24-hour volume of currency is $19,259,444 USD. The circulating supply of VeChain is 55,454,734,800 VET and the total supply is 86,712,634,466 VET.
VeChain Thor (VET) Value Analysis: However, the analysis of the VeChain’s value is bullish and of long-period, but the value of the VET is under bearish pressure. The alliances and situations around in the market are also not helping the value of VeChain. There was some mini bullish movement is a value of VET the previous week, but the correction comes in the market, but it was able to achieve the resistance level of 107 against BTC. It was a good sign for the currency.
The price of VET is hanging between 20-day EMA and 50-day EMA. Yesterday, the value of the currency was trading at $0.007151 and the decrease in the value by -5.62%. However, the price is able to go above 110 BTC, and the experts are predicting at the price will soon reach up to 123 BTC. The value can even go up to 150 BTC. The experts and analysts are advising to traders to buy the currency. The bullish pennant structure is under formation in this market and the bullish movement will come in upcoming future.
The main cause of the Vechain is that it is the victim of market manipulation and the big currencies could take advantage of them, but still VET is less manipulated than the other currencies. This is a positive factor for trading in VET. The alliances VeChain Foundations has made with the aim to increase the utilization of blockchain and the investment in VET token and because of this it strong long period investment option for the cryptocurrency traders.