Currently, VeChain is one of the most promising altcoins on the market, as many believe. It has a large and loyal community that is eager for the price to skyrocket.
A crypto analyst @CryptoMichNL calls VET one of the strongest coins and says it has a chance to spike in price referring to a chart.
‘If we hold, another move to 103-105 is likely’
The trading expert @CryptoMichNL points out to a retracement of the VET price on the chart. However, still calls VET one of the strongest coins.
$VET #VECHAIN— Crypto Michaël (@CryptoMichNL) November 20, 2019
Yes, one of the stronger coins holding up nicely here.
Ugh, retracement. All fine, it's still up more than 100% since the low.
The first area of interest hit here.
The second area of interest is at 61-63 sats.
If we hold, another move to 103-105 is likely. pic.twitter.com/8hTTYXAewP
Seems like, the second area of interest – 61-63 Satoshis ($0.0051) has already been passed.
As per the analyst, the next price move is likely to happen to the 103-105 Satoshis area ($0.0085) ‘if we hold’.
The recent VET price surge
About a week ago, CoinMarketCap recorded a 21-percent price surge on VeChain’s VET. Presumably, this was due to the recent big news that had come from China.
VeChain reported that it had partnered with ASI Group and DNV GL in order to start utilizing its DLT platform in the industry of food and beverage trade. The companies are planning to release a new logistics blockchain-based system dubbed Foodgates.
The media has called this the first blockchain-powered project in logistics made on a massive scale.