Bullish VeChain Price Prediction Bets Get Boost from Digital Vaccine Certificate

For the first time, validation of COVID-19 vaccination status via the blockchain will be carried out. The network of choice? VeChainThor.

The island of San Marino says it will issue a VeChain vaccination certificate based on eNFT, in what will be the world’s first. The current standard is for vaccinated individuals to produce a certified document or to submit to a verification using mobile apps such as the ones used in the UK, Barbados and in Saudi Arabia.

Blockchain verification provides an immutable record that has the capacity of global acceptance. The San Marino Digital Covid Certificate will show past records of the holder’s infections, contain negative result status, and serve as a digital certificate that can be used for defined purposes such as entry into spaces where people tend to gather shopping malls.

Whether this will favour those who have a bullish VeChain price prediction outlook in the near term remains to be seen.

Technical Levels to Watch

The completion of the breakdown of the rising wedge pattern was confirmed by the bounce off 0.0716. Price fell just short of the 0.0973 resistance, pulling back on the Thursday candle. Today’s muted upside needs further bullish validation to test the 0.0973 resistance. A break of this area targets 0.12 (7 April and 9 June highs), before 0.1437 and 0.1627 come into the picture as an additional resistance target.

On the other hand, lack of bullish momentum could allow the bears to push price towards 0.0716, with 0.0604 and 0.0386 serving as additional downside targets.

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VeChain Daily Chart

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