VeChain (VET), a prominent cryptocurrency, has been making significant strides in the digital asset market. Since the beginning of 2023, VET has experienced an impressive surge of over 76%. In fact, its daily charts show a 19.11% increase, and it is still up over 6% from the previous week.
In just one month, VET has grown by over 34%, and over the course of a year, it has achieved an astounding 66% growth. This success is a testament to the years of hard work put in by the VeChain team. The price of VET has risen by more than 15% in the last 24 hours alone.
VeChain’s achievements go beyond just price gains. The cryptocurrency has formed numerous partnerships with billion-dollar corporations like Walmart and BMW, solidifying its position in the industry.
Cryptocurrency experts have made various predictions about the future of VeChain as its upward trajectory continues. Renowned analyst Ali Charts suggests that VET is currently in a consolidation stage similar to the period from 2018 to 2020. According to Ali Charts, VET may surpass its resistance level of $0.033 in the next two weeks. If this scenario plays out, VeChain could rally to around $0.077 by late January 2024, representing an impressive 185% increase from its current levels.
Another prediction, drawing comparisons to the consolidation phase of 2018-2020, also suggests a breakthrough of the $0.033 resistance barrier and a potential climb to $0.077 in January.
However, there are conflicting opinions regarding VeChain’s performance during the holiday season. CoinCodex projects a small decline to $0.026 on December 26, 2023, but anticipates a rebound in early January 2024.
Long-term projections for VeChain vary as well. Changelly, a cryptocurrency exchange company, predicts that VET may reach a maximum price of $0.0342 in January 2023, representing a rise of almost 22% from current levels. Changelly also foresees a steady increase in VET’s price throughout 2024, potentially peaking at $0.0536 by December of that year.
It is worth noting that Changelly’s projections differ from Ali Charts’ anticipation of VET reaching $0.077 in early 2024. This disparity may be attributed to Changelly not fully considering recent developments surrounding VET’s consolidation phase. Additionally, VeChain’s future is also influenced by the overall cryptocurrency market, which may experience a bull run in 2024. VET, having dropped more than 90% from its peak in April 2021, is subject to these market dynamics.
In a bold prediction, cryptocurrency expert EGRAG expects a significant upswing for VeChain. EGRAG forecasts a staggering 7,500% rise, potentially pushing VET’s value to $2.3. The prediction establishes three price targets: $0.11642, $1.05737, and the ambitious $2.3. These targets represent potential price increases of 295%, 3,490%, and an astounding 7,500%.
Considering VeChain’s past price fluctuations, EGRAG’s analysis highlights the cryptocurrency’s downward trend since its all-time high in 2021. However, there has been a noticeable shift in sentiment since October, with more people becoming enthusiastic about cryptocurrency. VET has already experienced an impressive 80% increase since its low point in October, and EGRAG expects this growth to continue in the coming months.
In conclusion, VeChain’s performance in the digital asset market has been remarkable, with significant gains and promising predictions for the future. The team’s efforts, coupled with strategic partnerships, have contributed to VeChain’s success, setting the stage for further growth and potential price increases.