- Bullish VET price prediction for 2023 is $0.01764 to $0.02160.
- VeChain (VET) price might reach $0.1 soon.
- Bearish VET price prediction for 2023 is $0.01198.
In this VeChain (VET) price prediction 2023, 2024-2030, we will analyze the price patterns of VET by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
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TABLE OF CONTENTS |
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INTRODUCTION |
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VECHAIN (VET) PRICE PREDICTION 2023 |
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| VECHAIN (VET) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
VeChain (VET) Current Market Status
| Current Price | $0.01558 | 24 – Hour Price Change | 0.48% Up |
| 24 – Hour Trading Volume | $17,951,464 |
| Market Cap | $1,134,181,726 |
| Circulating Supply | 72,714,516,834 VET | All – Time High | $0.2782 (On Apr 17, 2021) |
| All – Time Low | $0.001678 (On Mar 13, 2020) |
What is VeChain (VET)
| TICKER | VET |
| BLOCKCHAIN | VeChainThor |
| CATEGORY | Blockchain protocol |
| LAUNCHED ON | 2015 |
| UTILITIES | Governance, Fast Transactions, gas fees & rewards |
VeChain (VET) is the native token operating on the VeChainThor, a public layer-1 blockchain. Initially, VET was launched formerly as VEN, an ERC-20 token, on the Ethereum blockchain. Later in 2018, VEN was swapped onto the VeChainThor blockchain.
VeChain is based on a two-token system that hosts the tokens, VET, and VTHO. VET is used as a payment token in the DeFi space whereas the latter serves as the energy token for facilitating the transactions. The blockchain relies on the proof-of-authority (PoA) consensus which demands validators to stake at least 25 million VET at the ‘authority master nodes’ along with providing their real identities.
VeChain 24H Technicals
(Source: TradingView)
VeChain (VET) Price Prediction 2023
VeChain (VET) ranks 38th on CoinMarketCap in terms of its market capitalization. The overview of the VeChain price prediction for 2023 is explained below with a daily time frame.
VET/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, VeChain (VET) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary 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 the price of VET might reach the resistance levels of $0.01894, $0.02708, and $0.003256. If the trend reverses, then the price of VET may fall to the support of $0.01447.
VeChain (VET) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of VeChain (VET) in 2023.
VET/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of VeChain (VET) for 2023.
| Resistance Level 1 | $0.01764 |
| Resistance Level 2 | $0.02160 |
| Support Level 1 | $0.01459 |
| Support Level 2 | $0.01198 |
VET Resistance & Support Levels
VeChain (VET) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (VET) are shown in the chart below.
VET/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current VeChain (VET) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | 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) | Magnitude of price change;Analyzing oversold & overbought conditions | 40.48 <30 = Oversold 50-70 = Neutral>70 = Overbought |
Nearly Oversold |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
VeChain (VET) Price Prediction 2023 — ADX, RVI
In the below chart, 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: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of VeChain (VET).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 21.43637 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 65.99 <50 = Low >50 = High |
High volatility |
Comparison of VET with BTC, ETH
Let us now compare the price movements of VeChain (VET) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs VET Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of VET is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of VET also increases or decreases respectively.
VeChain (VET) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned 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 would be favorable to the cryptocurrency. In conclusion, the bullish VeChain (VET) price prediction for 2023 is $0.02160. Comparatively, if unfavorable sentiment is triggered, the bearish VeChain (VET) price prediction for 2023 is $0.01198.
If the market momentum and investors’ sentiment positively elevates, then VeChain (VET) might hit $0.1. Furthermore, with future upgrades and advancements in the VeChain ecosystem, VET might surpass its current all-time high (ATH) of $0.00008845. and mark its new ATH.
FAQ
1. What is VeChain (VET)?
VeChain (VET) is the native token operating on the VeChainThor, a public layer-1 blockchain. It migrated from the Ethereum blockchain to its independent blockchain in 2018. VeChain provides blockchain-based tracking systems to supply chain enterprises.
2. Where can you purchase VeChain (VET)?
VeChain (VET) has been listed on many crypto exchanges which include Binance, Deepcoin, Bybit, Bitrue, and LBank.
3. Will VeChain (VET) reach a new ATH soon?
With the ongoing developments and upgrades within the VeChain Platform, VET has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of VeChain (VET)?
On Apr 17, 2021, VeChain (VET) reached its new all-time high (ATH) of $0.2782.
5. What is the lowest price of VeChain (VET)?
According to CoinMarketCap, VET hit its all-time low (ATL) of $0.001678, On Mar 13, 2020.
6. Will VeChain (VET) reach $0.1?
If VeChain (VET) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.1 soon.
7. What will be VeChain (VET) price by 2024?
VeChain (VET) price is expected to reach $0.18 by 2024.
8. What will be VeChain (VET) price by 2025?
VeChain (VET) price is expected to reach $0.24 by 2025.
9. What will be VeChain (VET) price by 2026?
VeChain (VET) price is expected to reach $0.31 by 2026.
10. What will be VeChain (VET) price by 2027?
VeChain (VET) price is expected to reach $0.4 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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- Source: https://thenewscrypto.com/vechain-vet-price-prediction-2023-will-vet-hit-0-03-soon
