VeChain (VET) could advance even more in the ongoing bull market, but the risk remains very high

VeChain (VET) could advance even more in the ongoing bull market, but the risk remains very high
фото показано с : invezz.com

2021-1-8 01:17

The cryptocurrency market is advancing this Thursday; Bitcoin’s price went above $40000 resistance and reached a new all-time high. VeChain (VET) has increased from $0.012 above $0.031 in less than several weeks, and the current price stands around $0.029.

Fundamental analysis: VeChain improves supply chain and product lifecycle management

VeChain is a blockchain platform designed to enhance supply chain management and business processes. The logistics sector suffers from a large amount of data that are not communicated optimally.

The entire supply chain relies on centralized data sources, which results in a lack of transparency and delayed data transmission. VeChain provides businesses the ability to track enormous data through a trust-free and distributed business ecosystem.

It is important to say that VeChain is not a fully decentralized platform and has the best features from both the DeFi (decentralized finance) and CeFi (centralized finance) sectors. The main characteristic of this platform includes high-speed value transfers, transparent information flow, and efficient collaboration.

VeChain utilizes various technologies to monitor gigantic networks and keep businesses up to date in the supply chain sector.

It also enables continuous and rapid innovation and derives its value from activities created by members. The result of this is a consensus that balances the views of all stakeholders in the ecosystem.

This platform was built with Internet-of-Things (IoT) integration in mind, and it has its cryptocurrency under the symbol VET. It triggers smart contracts and enables users to pay for transactions on Dapps that function on the VeChain blockchain.

This cryptocurrency could advance even more in the ongoing bull market, but if you decide to buy VeChain (VET) this January, you should use a “stop-loss” order because the risk is very high.

Technical analysis: Bears are focused on breaking the support level at $0.025

When trading VeChain (VET), you should consider that the price could also weaken in the upcoming days. VeChain price is in correlation with Bitcoin, and if Bitcoin enters the correction phase, that will have a negative influence on VeChain (VET).

Data source: tradingview.com

The current resistance levels are $0.035 and $0.040; $0.025 and $0.020 represent the current support levels. If the price jumps above $0.035, it would be a signal to trade VeChain, and we have the open way to $0.040.

On the other side, if the price falls below $0.025, it would be a firm “sell” signal, and the next target could be around the $0.020 support level.

Summary

VeChain tries to improve supply chain and product lifecycle management with various new functionalities that make it ideal for businesses. VeChain (VET) is one of the cryptocurrencies that could advance even more in the ongoing bull market, but there is still a level of uncertainty. If Bitcoin enters the correction phase, that will negatively influence VeChain, but as long as this cryptocurrency’s price remains above $0.025, there is no risk of the bear market.

The post VeChain (VET) could advance even more in the ongoing bull market, but the risk remains very high appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

VeChain (VEN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0408791
Капитализация $0 Rank 99999
Цена в час новости $ 0.0281811 (-100%)

vet vechain market high above price increased

Источник: invezz.com

vet vechain → Результатов: 126


Фото:

Is March a good month for buying VeChain (VET)

VeChain (VET) tripled its price in 2021 as it inches closer to the $0.1 milestone. What’s next for VeChain in March, and should you consider buying some VET now? Fundamental analysis: strong use cases push the price of VET up VeChain (VET) is a blockchain-based platform that uses IoT and distributed governance to solve problems […] The post Is March a good month for buying VeChain (VET) appeared first on Invezz.

2021-3-14 21:42


VeChain (VET) Treads Water Awaiting Next Big Move

VeChain (VET) has been one of the best performing cryptocurrencies since hitting an all-time low in March. The VET/USD pair increased by 1,500% in the three months that followed. However, failure to reach a close above an important long-term resistance level has lead to the possibility that the upward move has ended and the price […] The post VeChain (VET) Treads Water Awaiting Next Big Move appeared first on BeInCrypto.

2020-8-4 14:30


Reversible ICOs Proposed at Ethereum’s (ETH) Developer Conference in Prague

The ICO boom of 2017 and 2018 brought with it a mixed bags of fortunes for investors who crowdfunded blockchain projects on the Ethereum (ETH) blockchain. In terms of successful projects, we have seen the likes of Tron (TRX), Binance, VeChain Thor (VET), EOS – just to name a few – continue to live up […] The post Reversible ICOs Proposed at Ethereum’s (ETH) Developer Conference in Prague appeared first on Ethereum World News.

2018-11-1 20:21


Фото:

VeChain Price Prepares for Lift-off as HitBTC Trading Goes Live

A lot of the top cryptocurrencies are on the brink of noting strong gains. VeChain is one of the first movers in the top 20 to show some signs of life. The VET price has noted a strong 2% increase over the past 24 hours, and it seems there may be further gains on the […] The post VeChain Price Prepares for Lift-off as HitBTC Trading Goes Live appeared first on NullTX.

2018-10-3 00:40


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Immutable Pre-Approved Transactions: The End of Disrupted Gameplay

Immutable Web3 unveils Pre-Approved Transactions, a feature integrating blockchain approvals directly in-game, offering seamless transactions and a true Web3 experience. The post Immutable Pre-Approved Transactions: The End of Disrupted Gameplay appeared first on NFT News Today.

Earn Big with NXI Airdrop: 2 Reward Campaigns

Play Billionaire’s Path for $500,000 in rewards or join Everdawn Champions for a share of 105 million NXI tokens. Explore both airdrop campaigns and start earning. The post Earn Big with NXI Airdrop: 2 Reward Campaigns appeared first on NFT News Today.

GOAT Gaming: Step into Reward-Driven Web3 Games and Win Big!

GOAT Gaming is redefining Web3 gaming with mini-games, real prizes, and community engagement through its Road to $GOAT campaign on Telegram. The post GOAT Gaming: Step into Reward-Driven Web3 Games and Win Big! appeared first on NFT News Today.