Weekly Price Forecast for VeChain (VET) Unveiled

• VeChain's Recent Price Correction and Outlook
• Future Predictions for VeChain
• Will VeChain (VET) Reach its All-Time High Again?
• Bullish Predictions on VET
• VET's Potential Breakthrough

VeChain's Recent Price Correction and Outlook

VeChain (VET) has experienced a substantial price correction in the recent weeks, with a decrease over 14% in the past 14 days. Despite this downturn, VET has managed to uphold a 6.7% rise on the monthly charts. Based on data from CoinCodex, there might be a consolidation in VeChain's (VET) price this week, fluctuating between $0.029 and $0.030. However, there are expectations for the asset to gain momentum in the upcoming month. Furthermore, it is observed that the current market sentiment is neutral, but the investor phase points towards greed, which may result in a future price spike.

Future Predictions for VeChain

Changelly forecasts a maximum price of $0.033 for VET in January 2024. If this prediction holds true, it would signify a growth of around 10% from the current levels. VET, a project based on supply-chain, is engaged in several climate change-related issues and has established partnerships with numerous world-renowned firms.

Will VeChain (VET) Reach its All-Time High Again?

VeChain (VET) is presently 89% below its all-time high of $0.28, achieved in April 2021, close to three years ago. There is optimism among fans and investors that VET will soon regain its 2021 high. However, it is likely to take a few more years for VeChain to hit its all-time high again. CoinCodex speculates that VET could reach its 2021 peak sometime in 2029.

Bullish Predictions on VET

On the other hand, some analysts hold a bullish stance on VET and foresee the token surpassing the $1 mark this year. According to analyst Aj, VET had its first Golden Cross since June 2020. Aj predicts this Golden Cross formation could propel VET to $1.14 by October 2024, which would be about a 3700% increase from the current price levels.

VET's Potential Breakthrough

Yet, Changelly does not expect VeChain (VET) to breach the $1 threshold until January 2023 at the earliest.

Edited by Jonathan Stoker