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VeChain price analysis 24 June 2019; VET takes a beather after a day in the downtrend

VET price analysis 13 June 2013

VET was seeming to be a massive disappointment in the days of the Bitcoin surge, but it still managed to regain its footing yesterday, but still hasn’t reached its full potential of testing the $0.008 price level for quite a while now.

The maximum VET managed to reach during the surge was at $0.0076, the price point where it last tested its major resistance level, however, at the moment of writing this article the coin is down yet again and is trading at $0.0072

VET price chart

VET chart by Trading View

VeChain is heavily reliant on the multiple partnerships the company has been conducting in the past couple of months. However, the trader base is starting to think that all of those resources were spent for nought.

At the moment, it seems like VET is affected a lot more by Bitcoin than the team’s efforts of keeping it afloat. In more detail, the higher BTC goes the lower VET will fall down.

Looking at how Bitcoin is about to test the $15,000 resistance level, it’s safe to say that VET has very little room for growth.

At the moment, it’s best to HODL the coin, as a major decrease should be expected if the BTC hype is revived, which it is gearing up to be the case in the near future.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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