VeChain’s blockchain technology is adopted by ReSea Project to end the plastic ocean crisis. VET price is approaching a demand zone that could trigger a reversal, resulting in a 65% upswing. A breakdown of $0.115 would invalidate the bullish thesis and kick-start a 15% downswing to $0.098. Despite shedding over 40% of its token value in less than two weeks, the VeChain blockchain has witnessed a palpable adoption by a major environmental group today. At the time of writing, VET price is feeling the brunt of the market downturn but vyes to surge higher. ReSea Project and VeChain blockchain’s impact According to the recent announcement, ReSea Project has removed 305,240 Kg (672,938 lbs) of plastic from oceans and rivers. This movement has helped prevent more than 15 million plastic bottles from polluting naturally occurring water bodies like oceans, rivers and lakes in four months. The report further reads, With the blockchain platform from VeChain Tech used to collect, record, and monitor collection data, we ensure that all data is stored securely, time-stamped, and immutable. The certification from DNV provides independent proof of our progress and traceability of the total collection process. While VeChain adoption is already bearing fruit, VET price has seen a massive downfall over the past week. VET price at an inflection point VET price has dropped nearly 43% over the past 11 days and, as a result, pierced the demand zone extending from $0.126 to $0.141. Between April 10 and April 12, this area acted as a refueling point for buyers, leading to an 82% upswing. Therefore, investors can expect a resurgence of buying pressure as VeChain price dips into this zone again. Further supporting a bounce from this area is the Momentum Reversal Indicator (MRI), which flashed a buy signal in the form of a green ‘one’ candlestick. This setup forecasts a one-to-four candlestick upswing. A potential spike in buying pressure could result in a 54% upswing to the 50% Fibonacci retracement level at $0.218. If this bullish momentum persists, investors could see VET price test the lower boundary of the supply zone that stretches from $0.235 to $.266. Such a move would represent a 65% rise. VET/USDT 12-hour chart On the flip side, if the said demand barrier fails to support the collapsing VET price, the downtrend will likely continue. A decisive 12-hour candlestick close below $0.115 will invalidate the bullish thesis. Under these circumstances, market participants could expect VeChain price to slide 14% to the support level at $0.098. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD: Core Bullish But Latest COVID Developments May Pose Downside Risks – MUFG Kenny Fisher 2 years VeChain's blockchain technology is adopted by ReSea Project to end the plastic ocean crisis. VET price is approaching a demand zone that could trigger a reversal, resulting in a 65% upswing. A breakdown of $0.115 would invalidate the bullish thesis and kick-start a 15% downswing to $0.098. Despite shedding over 40% of its token value in less than two weeks, the VeChain blockchain has witnessed a palpable adoption by a major environmental group today. At the time of writing, VET price is feeling the brunt of the market downturn but vyes to surge higher. ReSea Project and VeChain blockchain's impact… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.