TL;DR
- Despite a recent dip, VeChain (VET) has seen a nearly 60% increase in its value year-over-year, with speculation about reaching new highs soon.
Analyst predictions are varied, with some expecting short-term rises to $0.06, while others envision a whopping 2,500% rally to $1.
VET Price Gearing up for a Peak?
Although VET, VeChain’s native cryptocurrency, dropped significantly over the past week, it continues to be one of the top gainers this year. According to CoinGecko’s statistics, its price has increased by nearly 60%.
The current price hovers around $0.04, but some analysts predict a new record high, possibly above $0.25, in the future. For instance, well-known X user Ali believes VET will follow the same price trend as it did from June to December 2020.
Based on the analysis, the price of the asset could pull back to approximately $0.032 in the upcoming days before climbing up to potential heights of $0.60.
Based on the price trend of VeChain from June to December 2020, it appears that the cryptocurrency may follow a similar path. If this pattern continues, the price of VeChain could retreat to the upper boundary of its channel, around $0.032. This potential pullback might pave the way for an extended bull market!
— Ali (@ali_charts) April 16, 2024
Some of the Previous VeChain (VET) Price Predictions
Some analysts, namely Clifton Fx and World of Charts among them, have recently predicted a promising outlook for VET. Clifton Fx believes the coin could reach $0.06 in the near future, while according to World of Charts, the $0.22 mark may be attained this summer.
According to Flash’s upbeat outlook, VET has the potential to surge by an astounding 2,500% and reach its peak price of $1 once more.
Good Morning #Vechain $Vet 1d
Approaching $1
— FLASH (@THEFLASHTRADING) April 11, 2024
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2024-04-17 22:24