VeChain (VET) Price Likely to Rise to $0.0085 ‘If We Hold’, Crypto Analyst Says

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Wed, 11/20/2019 - 11:06
Yuri Molchan
Recently, the VET price saw a 20 percent surge on the news from China about a major utility case for this blockchain, now an analyst says the coin may keep rising
Cover image via 123rf.com
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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.

Seems like, the second area of interest – 61-63 Satoshis ($0.0051) has already been passed.

Image via CoinMarketCap

As per the analyst, the next price move is likely to happen to the 103-105 Satoshis area ($0.0085) ‘if we hold’.

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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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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