VeChain Price Analysis: VeChain (VET) Moves With A Flattening Trend
Data: VeChain has grown a bit in today’s trading as well. However, the coin is still in the red zone and is facing a bearish trend.
The VeChain Foundation has partnered with Open Nodes, a hyper-connected platform which aims to be inclusive, connecting enterprises, in order to grow the blockchain ecosystem in Singapore. VeChain will be a technical partner of Open Nodes and will help in linking industries and the right vendors.
Current Statistics of VeChain (On August 27, at UTC 11:35):
- The trading price of VeChain (VET) was trading around $0.0045534.
- Against Bitcoin, the crypto was valued around 0.00000044 BTC per chip.
- At present, the rank of VeChain (VET) is 31st in the crypto market.
- Additionally, the market capitalization of the cryptocurrency was around 250,819,968 USD.
- At the same time, the 24-hour trading volume in the altcoin was 29,584,727 USD.
- With a return on investment of -69.93%, the number of VeChain chips circulating in the market was 55,454,734,800 VET.
VET to USD Price Comparison:
If you look at the 5-day chart of VeChain, it started with a hike of 13.23% and climbed to the level of 0.00466911 USD. The crypto hovered around that level for a while, and in the second half on August 24, the coin made another jump of 11.43% and touched the 0.0049968 USD. However, it soon declined by 14.57% and stooped to the level of 0.004311 USD. Thereafter, VeChain kept hovering around those levels with an overall variation range of 6.97%, till the time of writing.
VeChain Price Prediction:
A similar action like yesterday is continued in VeChain. Although the crypto has moved a bit up, it is far from making any assuring movement. For now, the immediate resistance for the coin is at 0.0046865 USD and the support level is at 0.0043245 USD.
Open Nodes is a reputed firm, and the tie-up will help VET at many fronts. As far as trends are concerned, the short term is bearish at present. Additionally, it will most probably give a good return in the long term.