VeChain (VET) is a blockchain platform for logistics management.
The idea behind VeChain is to increase the efficiency, traceability and transparency of supply chains while reducing costs and putting more control in the hands of individual users.
The maximum optimization of logistics is very important in the current difficult time.
Launched in June 2016, VeChain is now one of the oldest dedicated blockchain-based logistics platforms.
VET is a token used for transactions and other activities, while VTHO provides a fee, similar to how Gas works for Ethereum (ETH) transactions.
If we look at the chart with weekly candles, we can see that the price of VETUSDT has been trading above a strong mirror level for the last six months.
Liquid zone $0.02-0.022 in 2018, 2020-2021 and now skillfully played the role of resistance and support for a long period of time.
If there is a positive phase in the cryptocurrency market, the $0.039 mark for VET should be an easy target in the coming weeks.
Medium-term target $0.06 according to the blue scenario.
If the negative background and “wars” behind the scenes of the crypto market continue (in particular, we described them in yesterday’s FTT forecast)
Then working out the white scenario can also be considered positive)
The main thing is that the buyers of VETUSD keep the price above the liquid zone of $0.02-0.022 and then in the medium and long term everything will be fine for VET