VeChain (VET) Price Prediction 2024, 2025, 2026, 2027, 2028

VeChain is a blockchain-based solution founded by Sunny Lu in 2015. It aims to revolutionize supply chain and product management processes. It addresses challenges in logistics, particularly fragmented and inefficient data, and offers a comprehensive solution. Originally inspired by Ethereum, VeChain has evolved into a versatile platform for payment networking, smart contracts, voting, and more. It ensures secure tracking and verification of supply chain information, enhancing data integrity.

Its distributed ledger technology (DLT) fosters efficient business processes and encourages broader blockchain adoption. VET tokens are the native currency on this blockchain, facilitating transactions, smart contracts, and other functions.

VeChain employs on-chain governance, meta-transaction features, a proof-of-authority (PoA) consensus mechanism, and a unique dual-token system.

Historical price analysis of VeChain

Detailed analysis of VeChain's price history, including significant highs and lows. Discuss the factors that influenced these price changes.

The VET all-time low of $0.0015 was reached on March 13, 2020 (green circle). The low coincided with the Coronavirus crash of 2020, after which a significant bull run ensued. The all-time high of $0.2798 was reached on April 17, 2021 (red circle). This coincided with a local top in BTC and the rest of the cryptocurrency market. However, while the BTC price reached a new all-time high in December 2021, the VET price created a higher low (red icon) and has fallen since.

VeChain's journey so far

Co-founded by Sunny Lu and Jay Zhang, VeChain emerged from Bitse, a prominent Chinese blockchain enterprise. Initially, the VEN token ran on Ethereum, but it later transformed into VeChain Thor, expanding its scope to encompass diverse DApps and data solutions.

VeChain's ambition is to optimize supply chain transparency, introduce VeChain-based DApps and IoT applications, and contribute to the blockchain space.

By utilizing RFID, QR Codes, and NFC technologies, VeChain enables unique item identification throughout the supply chain using sensors provided by reputable companies like Bosch and Qualcomm.

Blockchain ensures data immutability and provides a transparent record of product details. This helps combat fraud by allowing easy verification and tracking from production to sale. The platform employs a two-token model, where VET serves as a value-transfer medium, and holders can earn VTHO. VTHO, the secondary token, covers transaction costs and is consumed upon transaction completion.

VeChain's market performance

The VET price has been in a bearish trend since the beginning of February. This led to a new yearly low of $0.0131 on June 10, 2023. However, the price bounced afterward and created a long lower wick (green icon).

Despite the bounce, the descending resistance line that has contained the movement since December remains intact. The trend is considered bearish until VET breaks out from this resistance line.

The VET performance has mimicked that of the rest of the cryptocurrency market. The majority of cryptocurrencies bottomed in June and have bounced since.

VeChain price prediction: short-term forecast

The short-term VET price forecast is leaning bearish due to the presence of a descending resistance line since the beginning of February. The line has caused numerous rejections until now (red icon). Until the price breaks out, the trend is considered bearish.

Moreover, the daily RSI is falling and is below 50 (red circle). This is a sign of a bearish trend and waning momentum.

So, the most likely future price outlook is a decrease to the $0.0160 horizontal support area. A breakout from the descending resistance line will mean that the trend is bullish instead.

VeChain price prediction 2023

The price movement that began in February and led to the yearly low in June looks like a completed A-B-C corrective structure. As a result, it means that the decrease was corrective. Additionally, the ensuing increase is a five-wave upward movement (white). This further indicates that the price has begun a new bullish trend after June 10, 2023.

If that is the case, the price will eventually break out from the resistance line and begin an upward movement to the main resistance at $0.0251. If the VET price breaks out above it, the area will be expected to provide support.

Therefore, the most likely prediction for the price at the end of 2023 will be between $0.0251 and $0.0324.

Factors influencing short-term price

In the short term, the two biggest factors that can affect the VET price are market sentiment and cryptocurrency market trends. Since short-term movements are mainly driven by speculation, positive news could increase buying interest and price appreciation, while negative news or FUD can create selling pressure.

Moreover, the overall movement in the rest of the cryptocurrency market can affect the short-term VET price. This is especially visible when there is a significant movement in the BTC price, creating a ripple effect in the rest of the market.

VeChain price prediction: long-term forecast

The long-term VET analysis shows that the price has fallen under a descending resistance line since the end of March. However, there are signs that a bullish trend reversal might be forthcoming.

The first reason for this is the deviation and reclaim of the $0.0170 horizontal area (green circle). These deviations are considered bullish signs and are often followed by significant movements in the other direction.

The second reason is the growing bullish divergence in the weekly RSI (green line). Such a divergence often precedes significant bullish trend reversals. In the case of VET, it could initiate an upward movement toward the long-term descending resistance line currently at $0.0350.

VeChain price prediction 2025

In order to predict the VET price in 2025, it is possible to create a fractal after the March 2020 bottom and project it to the current bottom. The reason for this is that the March 2020 bottom was the last time the weekly RSI generated a bearish divergence.

If a similar movement follows, the VET price will break out from the long-term descending resistance line. Then, it will reach a new all-time high sometime in May 2025 before moving above $1 in September.

Factors influencing long-term price

The long-term price of VET is heavily influenced by its adoption and real-world utility. As VeChain continues establishing partnerships and use cases in various industries, such as supply chain management, logistics, and healthcare, the demand for VET tokens may increase. Successful implementations of VeChain's technology in practical applications can drive sustained demand and contribute to long-term price appreciation.

Also, regulatory decisions and frameworks related to cryptocurrencies and blockchain technology can have a significant impact on VET's long-term price. Favorable regulations that provide clarity and support for blockchain projects can encourage adoption and investment, potentially leading to price growth. Conversely, stringent regulations or unfavorable legal developments can hinder adoption and dampen price prospects.

Is VeChain a good investment?

As with all cryptocurrencies, whether VeChain is a good investment depends on several factors. While market sentiment can influence the short-term movement, the long-term future for Vechain depends on project fundamentals, technological developments, and regulatory environment.

Additionally, the project's leadership team, founders, and advisors can contribute to a project's success and long-term viability.

Proceed carefully when investing in any crypto

Current market insights outline VET's trading details, and recent performance suggests potential trends. Short-term forecasts lean bearish, yet long-term projections indicate the possibility of bullish reversals. Various factors influence VET's price, including market sentiment, industry adoption, technology advancements, regulations, and broader economic conditions. Whether VeChain is a sound investment hinges on careful consideration of these elements, underlining the importance of thorough research and professional guidance.

Frequently asked questions

According to a fractal that projects the movement since the March 2020 bottom to the current bottom, it is possible for the VET price to reach $1 by the end of 2024.

VeChain (VET) has been actively working to establish itself as a prominent player in the blockchain and supply chain management space. It has forged partnerships with various industries and has demonstrated a commitment to real-world use cases. However, the ongoing development of VeChain's technology, including upgrades, scalability improvements, and security enhancements, will be crucial to its long-term viability. Technological innovation can help the project remain competitive and relevant.

There are numerous factors that can affect the VET price in both the short- and long-term, ranging from market sentiment and the broader cryptocurrency market to technological development and regulatory framework changes.

The all-time high of $0.2798 for VET was reached on April 17, 2021