VeChain Price Prediction and Analysis in February 2020

This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012.

We will be trying to formulate a VeChain price prediction by analyzing the past price trends, project developments, and market opinions, and see what price VET might have in February 2020.

VeChain Overview

vechain logo pngVeChain was developed as a blockchain-based traceability solution in order to simplify the process of authentication and tracking various products as they make their way through the supply chain.

VET currently holds the 33rd position based on a market cap of $371,844,838 , with $130,203,478 worth of VET being traded in the last 24 hours. There are 55.454.734.800 VET coins in circulation out of 86.712.634.466 VET.

VeChain Price Prediction: Analysis

On January 23, the price slipped to $0.005388 by 10.32%, but in the next five days, VET recovered and shot back to $0.00595 by 10.51%. In the last days of January, VET reached a price of $0.00552, with an increase of 7.19%. On January 31st, the coin maintained its uptrend and closed at $0.005779.

February started with VET still going bullish, with the coin opening at $0.005779 and surpassing that day the $0.006 resistance. VET closed at $0.006005.

February 2nd was also favorable for VET, the coin testing $0.006401 and closing at $0.006259. The next day, VET opened at around the same price and continued to increase, and ultimately closed at $0.006309.

On February 4th, VET opened at $0.006272, and tested the $0.006 resistance level, closing successfully at $0.006509, which represents an enormous hike of 20.5%. We can notice that since the month started, VeChain has incrementally grown each day.

VEchain price predictionSource: news.trade99

Today, February 10th, VET is trading at $0.006697, with a decrease of 1,77% within the last 24 hours.

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

  • Resistance Level (R3): 0.007032
  • Resistance Level (R2): 0.00682
  • Resistance Level (R1): 0.00666
  • Pivot Point: 0.00645
  • Support Level (S1): 0.00630
  • Support Level (S2): 0.006081
  • Support Level (S3): 0.00593

Developments

VeChain Foundation’s newest announced partnership is with ShareRing, a travel app based on distributed ledger technology. The new collaboration is expected to drive up the adoption of its VET token.

ShareRing will enable its users to spend VeChain’s VET on its platform in booking or renting over 2.5 million hotels in 190 countries and 1.2 million cars in 150 countries worldwide.

The platform also allows users to pay with VET for activities such as eVOA (Electronic Visa on Arrival) in Thailand, tours, flights, insurance, and other activities.

The VET integration will be final on the platform starting with February 8, when the mainnet launch of ShareRing will reach completion.

VeChain’s integration has been credited to its strategic partner CREAMethod.

VeChain and ShareRing share the same value in the sense that the latter’s mission is to ensure transparency and decentralization through blockchain technology, and VeChain offers a similar solution.

The foundation will also benefit from the partnership, as it will allow 20 million travelers from 20 countries to use its coin. ShareRing is among the only two companies that have received approval from the Thailand immigration department to manage the eVOA program.

“Did you know, there’s only 2 companies approved by the Thai Immigration Department to manage the eVOA program.

We’re one of them. That’s over 10 million travellers from 20 countries every year with exposure to ShareRing.”

“VeChain is a perfect match for the ShareRing ecosystem, in which VET owners now will be able to use services across the world in a trust-free way,” stated the CEO of CREAM.

VeChain has been integrated into over 30 fortune companies, including Adidas, BMW, LVMH, Renault and PwC, and 500 firms are currently running Dapps on its blockchain.

Also, China’s Walmart has officially started tracking its products using the VeChainThor blockchain.

VeChain Price Prediction: Market Opinion for February 2020

To better illustrate the overall market sentiment for VET, we have decided to include some of the sites that made their own VeChain price prediction.

Digitalcoinprice

Digitalcoinprice projected that this February, VET will have a trading price of $0.01205818, which marks an increase of 85.7%.

Cryptorating

Cryptorating predicted that in one day, VeChain might reach $0.006728, with a change of 3.57%, and in one week, the coin is forecasted to be traded at $0.008113, with a change of 24.89%.

Bitverzo

Bitverzo forecasted that VET will have an average price of $0.877983 on February 29, 2020, with a minimum of $0.161560 and a maximum of $1.956166.

Date Avarge Low High
Monday, February 10, 2020 0.827670 -0.275678 1.932122
Tuesday, February 11, 2020 0.819660 -0.319396 1.962167
Wednesday, February 12, 2020 0.806892 -0.309997 1.950829
Thursday, February 13, 2020 0.804824 -0.174078 1.923118
Friday, February 14, 2020 0.802719 -0.279525 1.991556
Saturday, February 15, 2020 0.812970 -0.287082 1.961147
Sunday, February 16, 2020 0.816759 -0.295100 1.935349
Monday, February 17, 2020 0.822000 -0.304479 1.954489
Tuesday, February 18, 2020 0.826965 -0.272757 2.052934
Wednesday, February 19, 2020 0.825479 -0.251097 2.034387
Thursday, February 20, 2020 0.832811 -0.227211 2.015764
Friday, February 21, 2020 0.838090 -0.322096 1.997913
Saturday, February 22, 2020 0.853635 -0.191210 2.014772
Sunday, February 23, 2020 0.860612 -0.230780 2.025626
Monday, February 24, 2020 0.866973 -0.168082 2.039034
Tuesday, February 25, 2020 0.871083 -0.290331 2.041147
Wednesday, February 26, 2020 0.866908 -0.196392 2.032447
Thursday, February 27, 2020 0.869898 -0.259750 2.022207
Friday, February 28, 2020 0.869402 -0.235436 1.931969
Saturday, February 29, 2020 0.877983 -0.161560 1.956166

Cryptoground

Cryptoground predicted that in one day, VeChain will trade at $0.2168, with a change of -94.41%, and in one week, the coin has been estimated to have a trading value of $0.5105, with a change of -86.85%.

WalletInvestor

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

Date Price Min Price Max Price
2020-02-11  0.00688  0.00652  0.00728
2020-02-12  0.007011  0.00665  0.00741
2020-02-13  0.00690  0.00651  0.00727
2020-02-14  0.007020  0.00664  0.00738
2020-02-15  0.007062  0.00669  0.00742
2020-02-16  0.007097  0.00673  0.00750
2020-02-17  0.00712  0.00672  0.00751
2020-02-18  0.00717  0.00677  0.00755
2020-02-19  0.00730  0.00692  0.00767
2020-02-20  0.00719  0.00681  0.00754

VeChain Price Prediction: Verdict

Now that we have reached the conclusion of our VeChain price prediction, you can assess what the market expects of VET in terms of price performance for this February. We hope that the information we provided in our article will prove helpful in your trading operation involving VET.

Featured image: nulltx.com

 

source: https://coindoo.com/vechain-price-prediction-february/

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