VeChain (VET) is still under bearish pressure and not performing very well. In the cryptocurrency market, some of the currency’s values are still uncertain.
Vechain currently is trading at the value of $0.007701 USD and its value is decreased by -3.30%. The market capitalization of the currency is $427,060,836 USD and the 24-hour volume is $21,263,103 USD. The circulating supply of 55,454,734,800 VET and the total supply of 86,712,634,466 VET.
VeChain (VET) 4-hour Analysis: VET is in bearish pressure. It did experience mini bull trend 10 days earlier, but soon bullish trend correction comes in and its value again decreases. In the 4-hour time frame the value of VET is going towards the previous support and now resistance level of 110 sats, but still it wasn’t able to cross it in its first and second chance. It is hanging between 2 Fib levels in a golden ratio zone and it decreased up to Fib 886. Fib levels are known for its sharp rebounds in the price. The Fib level increased up to Fib 50 but then dived back at MA 50. However, it is predicted to examine the value at Fib382 at the value of 99 sats before another correction.
The EMA20 line is the history of the VET value, if it is able to come near it, then it will be powerful support. The breakdown level of the 87 sats is Fib 786 and it is doesn’t keep this level then it will come down at 80 sats. The current peak value of 110 sats is the breakdown point and it is required to be broke before it examines the 123 sats and likely 142 sats level.
The experts are thinking that it’s right time to enter VET just right before the good risk/reward judgment and just only coming out with secure stop loss just right under the breakdown level.
VeChain (VET) 1-day Analysis: It is currently under the inversed Elliot 5 waves and creating C wave of correction platform for Elliot structure. VET is the only one which is manipulated much in the market and known as “Real 10” metric as per Messari displays VET’s 24-hour volume at $7.4 million and the volume registered by the exchanges is around $18.1 million.
The fundamental and technical indicators are measuring VET value in the right direction and the reflection is yet not there at the VET value. The value of the VET is increased by 3% in USD and decreased by 27% in BTC, which is disappointing for the investors.
But, it still has powerful purchasing support. The buying support is evaluating the sum of purchase actions at 10% distance from the peak bid value. This is the way we can see the exact buy support and clear out fake walls or whale manipulation in the market. It has $1.1 million of buy orders, which makes the market cap ratio of VET at 0.33%, along with below the average price. The bitcoin’s ratio is 0.27% and the Ethereum’s ratio is 0.28%.
Social Metrics: The single simple analysis SentScore binds all the value analysis of the VeChain and it is made of five different things that are news, social media, buzz, fundamentals, and technical analysis.
The VET’s SentScore is in the neutral zone and at the value of 4.0. The Reddit buzz of VET is increased in the previous 30 days, as impacted by the twitter and search volume’s little decrease. Sentscore is also still for the full previous 30 days.
The VAT is ranked at B category basic based on total 736 points on the May 7th. This powerful metric is build up because of the developer activity of 790 points, succeeded by consumer activity of 687 and because of the market maturity of 627 points.
Important activities of VeChain (VET) in the previous 30 days:
On April 27th, the VeChain blockchain made an enormous amount of transaction and it even crossed the record of the Bitcoin in total transaction number. The change of Deloitte certificates from Ethereum (ETH) to VeChain (VET) and other initial milk product transactions done by Bright Code is behind the enormous number of enormous transaction.
VeChain Thor networks alliances with the Professional service company Deloitte. Deloitte is in the “Big Four”.
Also collaborating with the automobile manufacturer “BMW” with launching new service VerifyCar on the VeChain Thor.
The VerifyCar deals with the milage fraud in the present situation of the crime in Germany. VerifyCar is a kind of digital passport that permit users to check their odometer and maintenance history.
Another declaration was made in April of “ToolChain”, which permits consumers to build their solution on the VeChain Network.
VeChain is an Asia based company which is extending its IoT and supply chain by VeChain Thor stage. 2018 was great for VET in comparison with the other cryptocurrency because it was experiencing the expansion in the growth of transaction. All of this because of the 3rd system developer and enterprise adoption on the VeChain Thor Network.
The VeChain’s launch of MPP and alpha testnet in the months of April and May. The other reasons are the alliances it made with Shanghai eGrid, Inpi Asia, PwC Hong Kong, PwC Shanghai, and DNL GL. VeChain is announcing this type of collaborations news with the Asian companies in the month for 1to 2 times.
The VeChain’s mainnet was introduced in the month of Junes and it was strengthened with upgrades at bootstrapping by their developers. They also introduced their mobile wallet in July and get updated a lot of time in the year. The most interesting was the token swap, in which Vechain changes the 1 old token by 100 new tokens and renamed itself as VET instead of VEN.
Comet releases at the end of the year. Comet is the MegaMask of the VeChaina and the prominent window of the VET network. And the other introduced assignments of the VeChain’s blockchain technology are Plair, DecentBet, Totient, OceanEx, Safe Haven and others. For 2019, VeChain is focusing on dapps and enterprise applications for the actual world business. The decreasing of the altcoins this year involving VET.
VET Value Prediction 2019: The world’s biggest cryptocurrency Bitcoin’s price manipulate the value of the altcoins in the market. When the value of the Bitcoin is stable, then the value of the other altcoins in the cryptocurrency market tends to that way.
The VeChain has no chance of recovery in the market and the only increase we see is of 1% in the previous hour. But, VET is decreasing by -10% in the previous 24 hours. It is difficult for the value of the VET to cross $0.011 USD and $0.0051 USD.
The correlation level of the BTC and VET is not noticeable in the previous 100 days. The coefficient of the correlation between BTC and VET is 0.11. The technical analysis of the currency shows that it will go down up to $0.000001 in one year. The experts are predicting that the value of VET will be between $0.01 and $0.02. The value might go up to $0.258 by the end of 2021 and the value might reach at $0.612 by the end of 2023.