Valuation is one of the most important aspects of any investment. There’s no point in buying a stock if it’s trading at $0.80 and it’s really worth $0.50. We have seen the same thing with VET. This altcoin has a market cap of nearly $600 million, and it’s trading for just $0.13. However, its fundamental value has recently been below $0.13. (In fact, at one point it dipped below $0.10.) This tells us that there is a lot of room for the price to fall. If this sell-off continues, we could see VET’s price drop below $0.13.
VET has been crashing for the past week, as the price continues to slide. It has reached a weekly low of $0.12 and continues to fall. The market is speculating that the coin will drop below $0.10 this week and below $0.13 in the following weeks. Some are calling this the crash of the vein age, with many calling for the coin to reach zero. VET has reached a market cap of $350 million, which is a far cry from the $2.5 billion it reached in January 2018.
A lot of people are unsure about the Veritaseum technology and don’t know whether it will make them rich or not. This is caused by some people who have quit the market or are avoiding the market or are not sure about the market. The reality is that Veritaseum is a great technology and is looking like it will continue to grow. This is a huge advantage for people who are looking for the next big thing.
VET/USD is in a downtrend that may continue in the coming hours. The huge cryptocurrency market continues its downward trend, with the recent wave of selling pushing the total market capitalization below $2 trillion. The price of bitcoin has fallen below $40,000 and is trading at that price for the first time in months. VeChain (VET) also suffered a decline, losing more than 17% of its value in the past 24 hours. A sharp drop in the share price could send VET down to $0.1, erasing much of the gains of recent months.
EFP price forecast
VET is down 18% against the US dollar in the past 24 hours, following a huge drop in the broader crypto-currency market. This decline has pushed VET’s MACD line into bearish territory and the company itself is trading nearly 20% below its 100-day simple moving average ($0.180). VET’s 14-day RSI dipped into oversold territory for the first time in weeks. 
4-hour chart of VET/USD. Source: Coincide Should the downtrend continue, VET could lose critical support at $0.129, paving the way for further declines to the 30-day low at $0.127. A new market sell-off could see VET drop below $0.120 in the coming days and head towards the $0.10 area. However, to overcome the recent downturn, the EFP will need the help of the entire cryptocurrency market. Breaking the initial resistance at $0.147 could pave the way for a move past the main resistance point at $0.162. Unless a strong rally is achieved, the VET/USD pair will struggle to reach the $0.193 resistance level in the coming hours.The crypto market is still unpredictable and some coins are getting affected more than others. At the time of writing, VET price was $0.1416. It is possible that the price will decline below $0.13 if the sell off continues. VET has a market cap of $1,834,924,158, and a trading volume of $5,498,000.. Read more about grt price drop and let us know what you think.
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