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- The bullish VET price prediction for 2023 is $0.01764 to $0.02160.
- VeChain (VET) price may soon reach $0.1.
- The bearish VET price prediction for 2023 is $0.01198.
In this VeChain (VET) price prediction for 2023, 2024-2030, we will analyze the VET price pattern using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
LIST OF CONTENTS |
INTRODUCTION |
|
VECHAIN PRICE PREDICTIONS (VET) 2023 |
|
| VECHAIN PRICE PREDICTION (VET) 2024, 2025, 2026-2030 |
| CONCLUSION |
| Frequently Asked Questions |
VeChain (VET) Current Market Status
| Price now | $0.01558 | 24 – Hourly Price Change | 0.48% Up |
| 24 – Hourly Trading Volume | $17,951,464 |
| Market Capitalization | $1,134,181,726 |
| Circulating Inventory | 72,714,516,834 VET | All – Highest Time | $0.2782 (On April 17, 2021) |
| All-time low | $0.001678 (On March 13, 2020) |
What is VeChain (VET)
| HEART | VETERINARIAN |
| BLOCK CHAIN | VeChainThor |
| CATEGORY | Blockchain Protocol |
| LAUNCHED ON | 2015 |
| NEEDS | Governance, Fast Transactions, fuel costs & rewards |
VeChain (VET) is a native token operating on VeChainThor, a public layer-1 blockchain. Initially, VET was pre-launched as VEN, an ERC-20 token, on the Ethereum blockchain. Later in 2018, VEN was swapped to the VeChainThor blockchain.
VeChain is based on a two-token system that holds the tokens, VET and VTHO. VET is used as a payment token in the DeFi space whereas VET functions as an energy token to facilitate transactions. This blockchain relies on a proof of authority (PoA) consensus that requires validators to stake at least 25 million VET on a ‘master node of authority’ along with providing their real identity.
VeChain technical 24 hours
(Source: Trading View)
VeChain (VET) Price Prediction 2023
VeChain (VET) ranks 38th on CoinMarketCap in terms of its market capitalization. An overview of the VeChain price prediction for 2023 is explained below with a daily time frame.
VET/USDT Descending Channel Pattern (Source: Trading View)
In the chart above, VeChain (VET) displays a descending channel pattern. A descending channel pattern is short-term bearish where the stock moves lower in a descending channel, but often forms within a long-term uptrend as a continuation pattern. Descending channel patterns are often followed by higher prices. but only after upward penetration of the upper trend line. A descending channel is depicted by connecting the lower highs and lows of a security with parallel trendlines to indicate a downward trend.
In a descending channel, traders can make sell bets when the price of a security reaches its resistance trendline. The ascending channel is the opposite of the descending channel. Rising and falling channels are the main channels followed by technical analysts.
At the time of analysis, the price of VeChain (VET) was recorded at $0.01558. If the pattern trend continues, then VET price may reach the resistance levels of $0.01894, $0.02708, and $0.003256. If the trend reverses, then VET price may fall to the support of $0.01447.
VeChain Resistance and Support Levels (VET).
The chart given below explains the possible VeChain (VET) resistance and support levels in 2023.
VET/USDT Resistance and Support Levels (Source: Trading View)
From the chart above, we can analyze and identify the following VeChain (VET) resistance and support levels for 2023.Resistance Level 1 $0.01764 Resistance Level 2 $0.02160 Tier 1 Support $0.01459 Tier 2 Support $0.01198
VET Resistance & Support Levels
VeChain (VET) Price Prediction 2023 — RVOL, MA, and RSI
Technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Bitcoin Relative Strength Index (RSI) (VET) are shown in the chart below.
VET/USDT RVOL, MA, RSI (Source: Trading View)
From reading the graph above, we can draw the following conclusions regarding the current VeChain (VET) market in 2023.INDICATOR OBJECTIVE READ CONCLUSION 50 Day Moving Average (MA 50) The nature of the current trend by comparing the average price over 50 days 50 MA = $0.01724Price = $0.01569
(50MA > Price)Bearish/Downtrend Relative Strength Index (RSI) The amount of price change; Analyze oversold & overbought conditions 40.48
<30 = Oversold
50-70 = Neutral>70 = SaturatedAlmost Excessive Relative Volume (RVOL) The asset’s trading volume in relation to its recent average volume Below the boundary line The volume is weak
VeChain (VET) Price Prediction 2023 — ADX, RVI
In the chart below, we analyze the strength and volatility of VeChain (VET) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
VET/USDT ADX, RVI (Source: Trading View)
From reading the graph above, we can draw the following conclusions regarding VeChain (VET) price momentum.INDICATOR OBJECTIVE READ CONCLUSION Average Directional Index (ADX) The power of trend momentum 21.43637 Weak Trend Relative Volatility Index (RVI) Volatility over a certain period 65.99
<50 = Low
>50 = HighHigh volatility
Comparison of VET with BTC, ETH
Now let’s compare the price movements of VeChain (VET) with Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs VET Price Comparison (Source: Trading View)
From the chart above, we can interpret that VET’s price action is similar to that of BTC and ETH. This means that when the price of BTC and ETH rises or falls, the price of VET also rises or falls.
VeChain (VET) Price Prediction 2024, 2025 – 2030
With the help of the above technical analysis indicators and trend patterns, let us predict the price of VeChain (VET) between 2024, 2025, 2026, 2027, 2028, 2029, and 2030.Year Bullish Price Bearish Price VeChain (VET) Price Prediction 2024 $0.18 $0.04 VeChain (VET) Price Prediction 2025 $0.24 $0.09 VeChain (VET) Price Prediction 2026 $0.31 $0.1 VeChain (VET) Price Prediction 2027 $0.4 $0.12 VeChain (VET) Price Prediction 2028 $0.47 $0.15 VeChain (VET) Price Prediction 2029 $0.59 $0.16 VeChain (VET) Price Prediction 2030 $0.65 $0.19
Conclusion
If VeChain (VET) establishes itself as a good investment in 2023, this year will be profitable for cryptocurrencies. In conclusion, the bullish VeChain (VET) price prediction for 2023 is $0.02160. In comparison, if bad sentiment is triggered, the bearish VeChain (VET) price prediction for 2023 is $0.01198.
If market momentum and investor sentiment improve positively, then VeChain (VET) may reach $0.1. Additionally, with future improvements and advancements in the VeChain ecosystem, VET may surpass its current all-time high (ATH) of $0.00008845. and mark its new ATH.
Frequently Asked Questions
1. What is VeChain (VET)?
VeChain (VET) is a native token operating on VeChainThor, a public layer-1 blockchain. It migrated from the Ethereum blockchain to its independent blockchain in 2018. VeChain provides a blockchain-based tracking system for supply chain companies.
2. Where can you buy VeChain (VET)?
VeChain (VET) has been listed on many crypto exchanges including Binance, Deepcoin, Bybit, Bitrue, and LBank.
3. Will VeChain (VET) reach a new ATH soon?
With the ongoing development and improvements in the VeChain Platform, VET has a high probability of reaching its ATH soon.
4. What is the current all-time high price (ATH) of VeChain (VET)?
On April 17, 2021, VeChain (VET) reached a new all-time high (ATH) of $0.2782.
5. What is the lowest VeChain (VET) price?
According to CoinMarketCap, VET reached an all-time low (ATL) of $0.001678, On March 13, 2020.
6. Will VeChain (VET) reach $0.1?
If VeChain (VET) becomes one of the active cryptocurrencies that maintains a bullish trend for the most part, it may soon reach $0.1.
7. What will the price of VeChain (VET) be in 2024?
The price of VeChain (VET) is expected to reach $0.18 in 2024.
8. What will the price of VeChain (VET) be in 2025?
The price of VeChain (VET) is expected to reach $0.24 in 2025.
9. What will the price of VeChain (VET) be in 2026?
The price of VeChain (VET) is expected to reach $0.31 in 2026.
10. What will the price of VeChain (VET) be in 2027?
The price of VeChain (VET) is expected to reach $0.4 in 2027.
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Disclaimer: The opinions expressed in this chart are solely those of the author. It does not represent any investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.
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