The overall outlook for VeChain ) in the past two weeks has been positive. This coin is now part of a group of crypto assets that have seen a decent climb. In recent days, however, there has been a general pullback. These are some highlights:

• Despite a surge in the past two weeks, VET has seen a slowdown with a substantial pullback in price.

• At the time of writing, VET was down by nearly 12%, trading at $0. 05613 in intraday trading.

• However, the coin may still test overhead resistance at $0. 075 even with this decline.

Data Source: Tradingview

VeChain (VET) – How soon can it get to $0. 075

There was hope that the crypto market would rebound from January’s dark days. In February, most coins that were led by mega-caps such as Ethereum and Bitcoin surged. VET is beginning to see the expected pullback.

The coin is now trading 12% lower compared to 24 hours ago at around $0.05617. This is not a bearish outlook. VET will still test the $0. 075 overhead resistance in the coming days.

If indeed this happens, it will bring gains of nearly 50% from the current level. VET could even reach $0. 096 as well. If bulls fail to hold above $0.02, it could lead to more weakness. 05, more weakness could follow.

Is VeChain(VET) a good idea?

VeChain is an enterprise-grade layer 1 smart contract blockchain that was launched in 2017. VeChain’s goal is to create an advanced blockchain ecosystem that addresses some of the challenges associated with data usage in different industries.

The native token VET has experienced decent gains since its inception. It’s a solid long-term investment and the $3 billion market capital leaves plenty of room for upside growth.

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