VeChain Price Prediction and Analysis in April 2020

We will be looking at some of the past price trends, developments, and market opinions for VET in order to determine a VeChain price prediction for April 2020.

VeChain Overview

VeChain is a blockchain project, which was developed for supply-chain order tracking and product authentication.

VET is currently ranked in 35th position based on a market cap of $214,629,324, with a 24-hours trading volume of $174,834,407 worth of VET. There are 55.454.734.800 VET coins in circulation out of a total supply of 86.712.634.466 VET. The price of VET is $0.003870, with a decrease of -3.62% in the last 24 hours.

VeChain Price Prediction: Analysis

On March 12^th, VET nosedived like the rest of the market, with the coin going down to $0.002401 from $0.004449. The next day, VET hit a new low of $0.001678, but it rebounded to $0.002790 as it closed the day. On March 14^th, the coin reached the $0.002814 resistance, but until March 18th, VET traded mostly between $0.0022 and $0.0025.

Towards the end of March 19^th, the coin surged to $0.002925. The coin struggled for the next few days to keep itself up the $0.0028 level, but failed and dropped to $0.0025 on March 22^nd. On March 24^th, the coin broke through the $0.0030 level, reaching $0.003067. The next days towards the end of March, VET was traded for the most part to $0.0030, with minor dips and rises to new resistance levels.

Source:elevenews

The VeChain price graph showed that there are signs of negative momentum, as the coin broke under the crucial level of $0.0030. Since 31^st March, VET started from $0.0030 and encountered heavy resistance at $0.0033, which caused the coin to drop to $0.0028 again.

VeChain surpassed $0.0030 at the start of April, with new support at $0.0030 level and resistance at $0.0034. At this level, it may go sideways, but once it breaks resistance over $0.0034, it might start a new bullish momentum.

Source: publish0x

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

• Resistance Level (R3): 0.00340
• Resistance Level (R2): 0.00334
• Resistance Level (R1): 0.00330
• Pivot Point: 0.00324
• Support Level (S1): 0.00319
• Support Level (S2): 0.00313
• Support Level (S3): 0.003083

Developments

On April 6^th, it was announced that PlatformXChain, a Singapore-based start-up company that is partnered with many toy manufacturers, such as CenturyFugu (Singapore), Marmit Co. (Japan), Mandarake Co. (Japan), and Machination Studios (Singapore), has decided to use VeChain to track products and collectibles.

PXC designed its own custom UX and IoT tags, and through VeChain companies are able to quickly implement and deploy the technology to track their products in real-time:

“The platform serves as a marketplace for Creators and Brand owners to list their original toys & collectibles products, secure them with encrypted smart chips, enabling consumers to verify before purchase and trade PXC- authenticated products with an immutable ledger of ownership tracked on the VeChainThor public blockchain.”

On March 31, 2020, Shanghai Gas (Group) Co., Ltd, a subsidiary of Shenergy Group Company Limited, which is an energy provider for the Shanghai Metropolitan area, will cooperate further with VeChain to develop a blockchain-enabled energy project. The partnership has the purpose of optimizing “business processes, reduce operation costs, improve the supply chain efficiency and build a trust-free “Energy-as-a-Service” ecosystem.”

blog.goodaudience.com

VeChain Price Prediction: Market Opinion for April 2020

Since several sites have made their own VeChain price prediction, we will be incorporating some of them to feature the general market sentiment for VET.

Digitalcoinprice

Digitalcoinprice’s VeChain price prediction for April places VET at a trading price of $0.00621667, which means an increase of 78.42%.

Coinpredictor

Coinpredictor expects the price of VET to increase with 5.4% in seven days, placing the price at around $0.000368, and the site estimates that towards the end of the month, VET will have a trading value of $0.00016, with a loss of -54.2%.

Cryptorating

Cryptorating predicted that in the next 24 hours, VeChain might go up with 21.49% to reach $0.004297, and in one week, the coin is expected to lose -72.77% and trade at $0.000963.

Bitverzo

Bitverzo forecasted that VET will have an average price of $1.002947 by the end of April 2020, with a minimum of $-0.174042 and a maximum of $2.145356.

Cryptoground

Cryptoground predicted that, in one day, VeChain will trade at $0.2168, with a decrease of -92.22%, and in one week, the site forecasted that VET will have a market value of $0.5105, with a loss of -81.68%.

Gov.capital

Gov.capital foresees that by the end of the April, VET will be trading at $0.00191, with a maximum price of $0.00192 and a minimum expected price of $0.0018.

WalletInvestor

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

VeChain Price Prediction: Verdict

With this, we conclude our VeChain price prediction. From our article, you will be able to evaluate what the market expects from VET in terms of price-performance for the month of April. We hope that the information we provided in our price prediction will be helpful in your VET trading endeavors.

Featured image: ethereumnews.digital

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