VeChain Price Prediction and Analysis in June 2020

VeChain Price Prediction and Analysis in June 2020

June 6, 2020

Today, we will be examining some of the past price trends, developments, and market opinions for VET so that we can issue a VeChain price prediction for June 2020.

VeChain Overview

Vechain is a blockchain platform that was designed to allow the easy tracking and management of various products, as they make their way through the supply chain from manufacturer to end-user. The native crypto of the platform is VET.

VET currently holds 30th position based on a market cap of $383,226,395, with a 24-hours trading volume of $200,000,369 worth of VET. There are 55.454.734.800 VET coins in circulation out of a total supply of 86.712.634.466 VET. VeChain is currently priced at $0.006911, with a decrease of -1.13%.

VeChain Price Prediction: Analysis

After seeing an impressive performance in April, where VET rose by 23% on April 21 and another gain of 11% on April 27, VeChain lost 14% at the beginning of May like most of the coins on the market.

Until May 21, VET had been largely trading between a tight range of $0.0044 and $0.0045, with unsuccessful attempts at breaking the $0.0046.

But then, VET/USD started a bullish trend, initiating a fresh rise to $0.0047. For a few days, VeChain even consolidated around the $0.0046 and $0.0047 level before going up to a new high of $0.0051 on May 25th.

But the price corrected itself from $0.0051 to $0.0048 the next day. On May 28th, VeChain made another recovery to a new level, $0,005516, to be more precise, and closed at an optimistic $0.0054. The bullish trend continued even further toward the last few days of May, with the coin hitting a new resistance level after another. On May 29th, it climbed to $0,005633, on May 30th-$0,006244, and on May 31st-$0,006926.

VET started June pretty tame, at a price of $0,006267, escalated to a daily high of $0,006267, and closed at $0,006644.

The resistance, pivot, and support levels calculated by WalletInvetsor are:

Resistance Level (R3): 0.00758
Resistance Level (R2): 0.00722
Resistance Level (R1): 0.00694
Pivot Point: 0.00658
Support Level (S1): 0.00629
Support Level (S2): 0.00593
Support Level (S3): 0.00565

Developments

VeChain has been very active this May in terms of partnerships. The platform recently announced its partnership with Bayer China, the Chinese branch of the global pharmaceutical company Bayer. The two entities will be working to develop a new Blockchain-based tracking platform for the monitorization of medicines throughout the supply chain.

Another headline-making partnership of Vechain was with I-Dante, where they developed a new app that archives data records on COVID-19 RT-PCR (real-time polymerase chain reaction) and antibody tests (rapid test). The VeChain Thor-based app is called E-HCert and is designed to aid in the fight against the COVID-19 pandemic. This health passport has already been implemented in a hospital in Cyprus.

US-based Producers Market partnered with VeChain to support the agricultural sector. Through VET’s technology, they will be able to track farmers’ products and improve their export competitiveness on the global market.

VeChain Price Prediction: Market Opinion for June 2020

As there are various sites that have made their own VeChain price prediction, we will be featuring some of the most relevant ones to help you determine the market sentiment for VET.

Digitalcoinprice

Digitalcoinprice’s VeChain price prediction comes with another positive price for VET this June, placing the coin at a value of $0.01767018, with a change of 139.89%.

Coinpredictor

Coinpredictor projected that VET will hit a price of $0.000375, with an increase of +7.4% in the next 24 hours, and in the next 7 days the site foresees an increase of +5.4% which would place the coin at $0.000368. By the end of June, they expect a spike of 54.2% to a price of $0.00016.

Bitverzo

Bitverzo’s VeChain price prediction extends for all of the days in June, along with their average, minimum, and maximum values.

Cryptoground

Cryptoground estimated that tomorrow, VeChain will have a price of $0.2168, with a decrease of -94.77% and in one week, the site projected that VET will have a market price of $0.5105, with a decrease of -87.70%. The coin is expected to close the month at $0.2393, with a change of -94.23%.

Cryptorating

Cryptorating predicted that tomorrow, VeChain will have a price of $0.008392, with an increase of 20.84%, and in one week, the site estimated that VET will have a market price of $0.010212, with a decrease of 38.58%. The coin is anticipated to close the month at $0.011519, with a change of 56.32%.

Gov.capital

Gov.capital estimated that by mid-June VeChain will have an average price of $0.00574, with a maximum expected price of $0.005797 and a minimum price of $0.005682.

WalletInvestor

WalletInvestor posted daily predictions for the next 10 days of June, also including the minimum and maximum values of the coin for each individual day.

VeChain Price Prediction: Verdict

This is the end of our VeChain price prediction. Judging by the data we have collected from other cryptocurrency prediction sites, VET predictions seem very positive based on the current bullish trend.

Featured image: ihodl.com

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