After the 5-day long mild price growth, the price of VeChain VET price trends are falling down. The coin has shaped lower highs over the last few days, the current momentum of VeChain (VET) is quite bearish. The bullish trendline has been broken before the coin closed on January the 28th, 2020. VeChain (VET) will probably find a support level soon to strike a price recoil at least over $0.0059. let’s find out more in the VeChain VEN news today.
Since the start of the year, VeChain (VET) has demonstrated a weak price growth since the start of 2020. The digital asset is on a bullish spree since January the 23rd, 2020, as wee can see on the monthly chart, but VeChain (VET) is correcting down since this morning. VeChain (VET) opened at $0.00555, and after falling a bit at $0.00550 it continually grown and achieved the level of $0.0059. The cryptocurrency had an increase of 8.21% within two days. It is worthy to notice that VeChain (VET), is forming lower highs since yesterday with a negative bias.
The VeChain VET price trends have strikingly grown till the middle of January when it experienced a bullish breakout above $0.00648 on January the 17th, 2020. After forming a head-and-shoulder pattern it began with a downtrend. The digital coin had found a support level at $0.0054 and is recovering from there at the moment of writing this article. In the meantime, Bollinger bands are indicating about upcoming volatility. It is to be seen whether the price trend of VeChain (VET) takes this volatile hit in a bullish way or not.
The VeChain (VET) cryptocurrency is one of the rare trendsetters in the altcoin news and rumors with not many stories or developments behind it. However, all of this has changed this last quarter of 2019 and we can see that in the wave of updates, a new VeChain price prediction was established by a couple of analysts.
To begin with, there are three partnerships that VeChain investors should know about. First of them is the one with China as the world’s largest emitter of greenhouse gases. Recently, they decided to come up with a system that will reduce the emission – naming it Carbon Bank Project which is linked to VeChain and its partnership with BYD, China’s largest electric vehicle manufacturer.
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