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VeChain (VET) Price Prediction and Analysis in May 2021


vechain price prediction

In this VeChain price prediction, we’ll look into the coin’s past price trends, developments, and market opinions to help determine its possible price in May 2021.

As of this writing, VeChain is the 13th largest cryptocurrency according to its market cap of $15,278,050,846. In the last 24 hours, VeChain had a trading volume of $4,291,202,046. The cryptocurrency has a circulating supply of 64,315,576,989 VET and a maximum supply of 86,712,634,466 VET.

VeChain Price Prediction: Analysis

Today’s VeChain price is $0.24295. Even if we cannot tell the exact price tomorrow because of the volatility of the crypto space, the past performance can help us make a reliable VeChain price prediction. This can be useful for traders and other crypto enthusiasts to make an informed decision.

In the last three weeks, the VeChain price has been on an upward trend that culminated into a new ATH of $0.160. In fact, VET has rallied over 300% since March 2021. This bull-run could face a temporary exhaustion of buying pressure, which could lead to a minor correction.

The coin began the year at $0.019 before it rose to $0.026 in mid-January. Then VET stabilized, closing the month at the same price. Fast forward to March, and the coin was trading at $0.042. On April 6, it set its first all-time-high of $0.112.

Overall, the VET bulls are still raging, as the demand for the popular altcoin increases. With a market cap of more than 11 billion USD, the coin has continued to shine. Its investors include companies that seek to build decentralized applications in various countries, such as the Netherlands, Slovakia, and Belgium. 

Importantly, the interest in the VET coin coincided with the sharp upward trend of its price. If this momentum persists, VET could hit a breakout line at $0.17, after gaining some more percentages. Therefore, it’s one of the best-performing altcoins to watch, even as more companies continue to test the network.

For those who are targeting VET, the following are support and resistance levels to keep in mind. These prices have been calculated by Walletinvestor and could help with Vechain price prediction. They can also help traders make informed trading decisions.

Calculation for trading:

  • Resistance Level (R3): 0.192;
  • Resistance Level (R2): 0.175;
  • Resistance Level (R1): 0.164;
  • Pivot Point: 0.147;
  • Support Level (S1): 0.136;
  • Support Level (S2): 0.118;
  • Support Level (S3): 0.1073.

Developments

The latest development on the VeChain network is the creation of the Sync 2 Digital Wallet App. The app allows users with technical expertise to connect to Dapps. Previously, interacting with Dapps and smart contracts required a certain level of technical knowledge.

Some decentralized applications even required certain devices or operating systems, which makes them highly restricted. Sync 2 eliminates these restrictions so that anyone can use Dapps as easily as using any web application, such as e-mail. Users don’t need to manage crypto to pay gas fees. Dapp owners or DaaS service providers can now fund gas fees on behalf of the users. This makes the process much easier.

Additionally, Sync 2 is the first digital wallet app that aims to pave the way for mass adoption of Dapps even in the non-technical parts of the society. It allows anyone to link up with Dapps regardless of the browser or operating system used.

VeChain Price Prediction: Market Opinions

Price forecasting companies have given their opinions concerning VeChain price prediction, and we have chosen to show you the most relevant ones.

Tradingbeasts

According to Tradingbeasts’s VeChain price prediction, it is expected to hit $0.158 by the beginning of May 2021. VET could also attain a minimum price of $0.135 and a maximum price of $0.199, before closing the month at $0.159.

Digitalcoinprice

Digitalcoinprice said that the VET price has all the chances to increase in the future. While they cannot tell the exact price of the coin in the coming days, they believe it’s a profitable investment based on their forecasting.

Longforecast

Longforecast predicts that VET will start May 2021 at $0.29 and close at $0.34. The coin is expected to attain a minimum of $0.25 and a maximum of $0.36. If that happens, it will lead to a cumulative percentage of 278%.

Walletinvestor

According to Walletinvestor, VET is likely to do better in May 2021. Towards the end of April, the VET price will be hovering between $0.180 and $0.206. The coin will have an average price of $0.193. Below is VET price prediction for the beginning of May 2021:

Date Price Min Price Max Price
2021-05-01  0.376  0.360  0.392
2021-05-02  0.369  0.353  0.384
2021-05-03  0.383  0.366  0.399

VeChain Price Prediction: Verdict

Based on the performance trends of the VET coin, it’s supposed to continue on an upward trend in May, which could form a basis for long-term performance. However, the crypto space is volatile, and no one knows what exactly can happen in the coming days.

Meanwhile, the performance of the coin largely depends on Bitcoin price performance, which is a major determining factor in the crypto space. Those who are interested in buying VeChain can find more information on our guides that can be useful to help you make an informed choice.

Featured image: cryptonomist.ch

Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.



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