VeChain (VET) Price Prediction 2024, 2025, 2026, 2027, 2028
VeChain (VET) Technical Analysis
VeChain price prediction
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In addition, chart patterns are also widely used by traders to form trend lines which help in predicting the next candlestick move.
Various indicators such as the RSI, Moving Averages and the MACD can be used to determine the direction of the long-term trend and attempt to predict the future price movement.
RSI
The RSI offers additional insight into the market’s momentum by measuring the size of VeChain price moves to determine whether its overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and to decide whether to accumulate or sell an asset. Readings above 50 and an upward trend indicate that bulls still have an advantage, whereas readings below 50 suggest the opposite.According to the RSI, In the 1 Week time frame, VeChain is currently trending bullish with the actual RSI reading at 52.78. The 50 line could provide support if the indicator returns to it.
Moving averages
Moving averages are an important analytical tool that provides traders with a bigger picture of what is happening in the charts by calculating the VeChain average closing price over a set period of time. The relationship between short- and long-term moving averages is crucial in determining the trend’s direction. When the short-term MA moves above the long-term one, it is a sign that the trend is gradually turning bullish.In the weekly timeframe, VeChain is in a neutral trend since the 50-x MA has crossed below the 200-x MA, and the price is trading below both.
Alternatively, the trend is neutral if the 50-day MA has crossed above the 200-day one, but the price is trading below them (and vice-versa).
MACD
Finally, the MACD uses a Simple Moving Average (SMA) and an Exponential Moving Average (EMA) to more accurately predict the trend. In similar fashion to simple MAs, the relationship between these two is helpful in determining the trend’s direction.For all these indicators, the weekly time frame is used to determine the long-term trend, the daily time frame is used for the intermediate trend, while the six-hour one is used for the short-term trend.
According to the MACD, in the 1-Week timeframe, VeChain is currently trending Bearish Momentum since the MACD signal line moved below 50 periods ago, and the histogram has been negative for 50 periods.
VeChain Price Prediction for 2023, 2025 and Beyond
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
Will VeChain reach $1?
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.
Does VeChain have a future?
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.
What factors could influence VeChain coin's price in the future?
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.
What was the highest price of VeChain Coin?
The all-time high of $0.2798 for VET was reached on April 17, 2021
Current VeChain Price
VeChain currently sits at a price of $0.04015428 (VET/USD) with a live market capitalization of 2.9B. The 24-hour trading volume is 51.9M USD which is a %3.83004 positive. With a circulating supply of 72.7B, VeChain's price movement is currently positive.VeChain Fundamental Analysis
Fundamental analysis aims to assess the inherent value of an asset, while technical analysis involves examining statistical patterns in the price and volume of that asset. Both techniques are employed to analyze and predict potential developments in the future price of that asset.In the case of VET, the most straightforward way to perform fundamental analysis is to look at supply and demand dynamics. Additionally, it is possible to look at the market capitalization amount (2.9B) and the circulating supply (72.7B) to arrive at reasonable price assumptions for the future. On the demand side, it is possible to look at on-chain data relating to the number of active and new addresses and transaction count.
What drives the price of VeChain?
There are a number of variables in the cryptocurrency market that can drive the price of VeChain upwards or downwards. The major force behind VeChain’s asset value is the market’s supply and demand. Whether the demand for more VET increases or decreases depends greatly on growing adoption.Furthermore, significant events such as protocol updates or hard forks may also play a significant role in VeChain’s price.
Another prime factor to consider is whale activity. Large holders of VeChain can greatly impact the price as one large sell order can drop the price significantly. In addition, never underestimate the power of large institutional adoption and political regulations on VeChain’s value.
Summary
It’s important to note some price predictions may appear contradictory. There is no clear-cut method for determining the future value of any cryptocurrency. This is because many factors are involved in price prediction. It’s not uncommon for one announcement to greatly change the trajectory of a coin’s price at any given time. The entire market as a whole can affect one coin’s movement as well as any updates on the project’s technology. Always do your own research before investing in any cryptocurrency.Frequently Asked Questions
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