- If the bullish trend continues VET price can reach $0.1.
- Bearish VET price prediction for 2021 is $0.028.
VeChain (VET), a blockchain-related supply chain platform. Moreover, the project started in 2015 and launched in June 2016. However, VeChain aims to use distributed governance and the Internet of Things (IoT) to develop an ecosystem that solves some problems with supply chain management.
The platform uses two in-house tokens, VET and VTHO, to help and create value based on its VeChainThor public blockchain. More so, the idea is to boost the efficiency, traceability, and transparency of supply chains, however reducing costs and placing more control in the hands of individual users.
Let us see about the VeChain price prediction 2021.
VET Price Analysis 2021
According to CoinGecko, the VET price is $0.596, at the time of writing.
- Resistance Level 1 – $0.06
- Resistance Level 2 – $0.067
- Next Resistance Level – $0.1
- Support Level 1 – $0.35
- Support Level 2 – $0.028
The above chart shows the impressive performance of VET in the last few days. Also, we can see the price boost of VET to almost 77.28% from February 1 to 28. Despite a dip, VET is showing a bullish trend. However, if the trend continues, VET will run along with the bulls, overtaking its $0.067 resistance level and climb higher to $0.1.
In contrast, if the investors turn against the cryptocurrency, the bears might take over. More so, the VET price might plummet to almost $0.35, a bearish signal.
When it comes to the relative strength index (RSI) of the crypto, VET is at a 60 levels. In other words, the cryptocurrency is already oversold and may trigger a price reversal at any given time. Also, the volume trend is low, since many investors are putting a small amount of money at risk.
Therefore, traders must trade smartly and must not be influenced by the market hype. With this in mind, traders can stay away from unexpected losses due to the crypto market’s wild swings.
Disclaimer: The opinion expressed in this chart solely the authors. It is not interpreted as investment advice.