VeChain (VET) Price Prediction 2021: Market Analysis and Opinions
The cryptocurrency market is becoming increasingly popular, especially among those looking to invest in 2021. As a result, special attention is paid to currencies that have a favorable price behavior for investors. In this VeChain price prediction, you can find a detailed price analysis, the most real forecasts, as well as important events to consider.
VeChain currently has a market cap of $7,094,044,610, a circulating supply of 64.32 billion VET, and a maximum supply of 86,712,634,466 VET.
VeChain (VET) Price Prediction: Analysis
VeChain has followed in the direction of the market as determined by Bitcoin. After dropping from $0.252 to $0.0869. It started to recover and gained a value of $0.1135 in June. The recovery, however, has been delayed as the bear market continues to linger. The market has been down for weeks in a row, and while it is showing signs of recovery in June, it is not certain if this will be sustained.
In this article, we will look at VeChain price prediction and try to analyze it to project how it will perform in 2021. We will also get the opinions of some top websites that do price predictions to give you a better understanding of the price behavior and what to expect.
VET price has been in an up and down trend recently, ranging between $0.154 and $0.066. The range has been tightening into what appears to be a consolidation. More recently, a small green candle has broken out, but how strong is this?
At the moment, the sentiment remains bullish for VET, but this may be short-lived. The only sign that the trend will continue will be a dark green candle appearing at the end of the volume bars in the moving average convergence divergence indicator under the VET chart below.
The 50 Moving Average (Green line) in the chart below has crossed above the price and may turn to a resistance if the price attempts to break above it again. At the same time, the 200 MA (Orange line) could also be potential support for the price, as it is still safely below it for now. However, where the price will eventually go depends largely on the general trend of the market.
For those trading VET, here are important support and resistance levels to keep in mind as calculated by Walletinvestor.
- Resistance Level (R3): 0.138;
- Resistance Level (R2): 0.128;
- Resistance Level (R1): 0.121;
- Pivot Point: 0.111;
- Support Level (S1): 0.1034;
- Support Level (S2): 0.0934;
- Support Level (S3): 0.0860.
VeChain Price Prediction: Market Opinions
The following are market opinions from top websites on VeChain price prediction in July and for the rest of 2021.
VeChain Price Forecast for July
30rates expects that the price of VeChain in July will remain about the same. Their VeChain price prediction says that the maximum price for the month from now on will be $0.12, while the minimum will be $0.07.
Longforecast’s VeChain price prediction says that VET price could reach as high as $0.12 in July. The price may also drop as low as $0.07, just as predicted. By the end of the month, the price is expected to be $0.09.
VeChain Price Forecast for the Rest of 2021
The VET price prediction on this website suggests that the price will increase steadily till the end of the year. By December, it is expected to reach $0.1834028, which is the highest expected price for the rest of the year. The least expected price is $0.1176698, which will be in July.
|Month||Minimum Price||Maximum Price||Average Price||Change|
|July 2021||0.1176698||0.1730438||0.1384350||26.93 %|
|August 2021||0.1189667||0.1749510||0.1399608||28.33 %|
|September 2021||0.1203315||0.1769581||0.1415665||29.80 %|
|October 2021||0.1217156||0.1789936||0.1431949||31.29 %|
|November 2021||0.1232094||0.1811902||0.1449522||32.90 %|
|December 2021||0.1247139||0.1834028||0.1467222||34.53 %|
Digitalcoinprice expects the price of VET to peak at $0.18105450 in August. It could then drop to $0.15788403 by the end of the year, their VET price prediction says. This is generally a more bullish prediction than most websites give.
|Month||Average Price ($)||Change (%)|
|Jul 2021||$0.18017480 USD||62.78 %|
|Aug 2021||$0.18105450 USD||63.57 %|
|Sep 2021||$0.17139714 USD||54.85 %|
|Oct 2021||$0.17004074 USD||53.62 %|
|Nov 2021||$0.16034918 USD||44.87 %|
|Dec 2021||$0.15788403 USD||42.64 %|
Gov.capital’s VET price prediction is that the highest price it will ever reach in 2021 is $0.16. The least expected price is $0.09605. The highest possible price is expected at the end of the year.
Latest News and Happenings Concerning VeChain
VeChain is a blockchain project with a focus on enterprise, and its latest project is in collaboration with DNV. The collaboration will bring the world’s first blockchain-based IVF service app known as MyBaby. One of the largest hospitals in China, Renji Hospital, is announcing the launch of the project.
DNV, a hospital with over 170 years of history in medical treatment, teaching, and scientific research, will harness VeChain’s blockchain technology to verify key steps in In-Vitro fertilization (IVF) and provide private, exclusive, end-to-end data access for prospective parents undergoing treatment in the hospital.
The project also entered the NFT ecosystem. This was marked by the announcement of a $1 million grant program for the VeChain eNFT Ecosystem as part of efforts to help small enterprises and community startups to build their projects.
VeChain Price Prediction: Verdict
VeChain’s market performance is very bearish at this time. This is not likely to change soon, as the market is not showing any signs of improvement in the short-term. It may be in a consolidation, and a time to accumulate if you wish to invest in it. This is not financial advice, meaning that more research should be done before investing in the asset.
Featured image: cryptonomist.ch