Meta Data: The strengthening in VeChain (VET) is continued today as well. The long, as well as the short term trend, is still bullish.
Recently, the VeChainThor Mainnet v1.1.2 upgrade has been successfully activated. The VeChain Foundation has asked developers to build applications with the advanced fee delegation features. Additionally, VeChain Tool Chain has introduced BrightCode which is a blockchain-based commercial ecosystem and commodity confidence index platform.
On June 27, VeChain was trading around 0.00776116 USD. However, over the period of 25-days, the altcoin has gone down by a huge margin of 21.71%. But in a week of trading, the crypto has strengthened by 6.92% from the market price of 0.006070 USD on July 16. Yesterday’s trading day was almost flat, where it opened around 0.006100 USD and with a slight fall of 0.28%, wrapped the day at 0.006083 USD.
As per our prediction, VeChain (VET) will trade around 0.01 USD in the long term. At present, the immediate resistance for the coin is at 0.006195 USD and the support level is at 0.005918 USD.
Thor Mainnet update is doing wonders for the VeChain Foundation. The amount of positive sentiments, it created is impeccable. As far as trends are concerned, the long term is bullish. And one should expect a good amount of return in the altcoin in the short term as well.