VeChain Corrects Lower To $0.0044 After Hitting $0.0052

VeChain corrects lower to $0.0044 level after it received a lot of mixed movements over the past two months. The bears had the upper hand since the start of March but then the cryptocurrency fought back and started an upward trend on March 13. The VET price was seen moving between $0.0015 and $0.0085 as we are reading in the Vechain VET news today.

Vechain has seen the price gets pushed down from a recent high by the bears and the recovery in just two months. During February, the coin was trading with a  bullish influence and it was seen trading around $0.0085 but immediately after that, the VET price started a correction and the continual price pressure took the price to a newer low of $0.0015 on March 13. After that, VeChain corrects further and the price managed to go through a strong recovery and has been on an uptrend ever since.

This uptrend led the price of the coin to increase to $0.0047. Later, however, the currency continued to reflect the upward momentum but today it is hitting new key resistance levels at $0.0051 while the coin corrects lower to $0.0044. The VET coin already surpassed the crucial resistance level and if it manages to trade with positive momentum, it could cross a bigger resistance by $0.0071 in the upcoming days. According to the recent momentum, it could correct down to support of $0.0040.

As per the recent VeChain VET news, The COS Fashion label under the H&M Brand likely partnered with VeChain in order to verify the authenticity of the high-quality clothes. VeChain already started a partnership with H&M back in 2018 which now uses the VeChain Thro blockchain to verify the authenticity and to track products. The CEO of VEchain Sunny Lu speculated that the crypto platform is working with DNV GL on a new ‘’fashion brand’’ project.

Also, The fintech platform Crypto.com added support for Vechain VET token on the Syndicate Lite Platform. According to the announcement, all of the crypto.com token stakers will be able to bid for $500,000 worth of VET on the sale available on the platform at a discounted price. All of the VET tokens will be sold at a 50% discount for CRO stakes only.