VeChain's price is over $ 5.15 with little resistance
There is renewed global attention on all cryptocurrency markets right now. So far, this dynamic has yielded positive dividends for most major currencies. The price of VeChain, for example, has increased by 18.39% in the last 24 hours. Thanks to these gains, VeChain's price now stands at $ 5.18, which is a clear improvement over a few days ago.
With all the cryptocurrency markets becoming green again, there is a lot of positive momentum in the entire industry right now. As we have seen in the past, however, such momentum can occur fairly quickly. With solid increases recorded for the third day in a row, it seems that the entire industry is recovering slowly. Do not be fooled by this temporary respite, however, as it is possible, we will see some wild volatility over the coming weekend again.
Nevertheless, VeChain's price has been growing steadily over the last 24 hours. Thanks to an 18.39% increase in the value in USD, the VeChain price returned over $ 5 for the same period in almost a week. With this value of $ 5.18, things seem pretty good for this altcoin, even if nothing has been frozen for now. Things are always subject to change in the world of cryptocurrency, and VeChain's momentum can actually turn against him at some point.
It should also be noted that VeChain's price increase is the direct result of solid improvements on the Bitcoin and Ethereum side. More specifically, the VEN / BTC ratio increased by 10.62%, while the VEN / ETH ratio improved by 12.97%. It is obvious that Ethereum is having a hard time keeping up with the current momentum of Bitcoin prices, although it seems like it's a matter of time before everything explodes in value. When that happens, things will become very interesting for VeChain prices.
With $ 106.72 million in transaction volume over the past 24 hours, there appears to be strong demand for VeChain at this time. Although this volume is not necessarily impressive, the current trend confirms that VeChain could increase a little in the next hours and days. With this current market sentiment, anything can happen, but that does not necessarily mean that it will be a positive change in the future.
At present, LBank is the largest trading market for VeChain. Considering that most people have never heard of this platform, it's rather surprising. Binance is also in the top three with its BTC and ETH markets. Huobi takes places 4-6 with its BTC, USDT and ETH markets right now. All of this shows an interesting demand for VEN right now, even if it does not necessarily mean that things will continue like this. With only three trading pairs generating more than $ 10 million in 24 hours, the volume is not really impressive.
If the price of VeChain will continue to increase in the next few hours, remains to be seen. At this moment, it seems that we have reached a glass ceiling for a day or two. If the market continues this upward trend, a new record can be reached by March 2018. This will depend mainly on the price evolution of Bitcoin, because this particular market realizes big gains without too much opposition. Rest assured that the trend will not continue unabated for much longer.
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