VeChain (VET) has experienced a remarkable surge of over 76% since the start of 2023, sparking speculation about its future price. Analysts have made diverse predictions, with some foreseeing a potential increase of 185% to $0.077 by the end of January 2024.
One of the most optimistic forecasts comes from EGRAG, which predicts a staggering 7,500% rally for VeChain. EGRAG has set ambitious targets of $0.11642, $1.05737, and an impressive $2.3, following an 80% increase since October.
VeChain, a prominent cryptocurrency, has been making significant waves in the digital asset market. It has seen an incredible upsurge since the beginning of 2023, with gains of over 76%. Despite a slight increase of 19.11% on its daily charts, it is still up by over 6% from the previous week.
In just one month, VeChain has grown by over 34%, and in a year, it has experienced an astounding growth of 66%. The years of effort by the VeChain team are slowly but surely paying off. The price of VET has risen by more than 15% in the last 24 hours, and its partnerships with billion-dollar corporations like Walmart and BMW are just a small part of its achievements.
Renowned cryptocurrency analyst Ali Charts believes that VeChain is currently in a consolidation stage similar to the one it experienced from 2018 to 2020. Ali Charts suggests that VET might surpass its resistance level of $0.033 in the next two weeks. If this scenario unfolds, VeChain could rally to an estimated $0.077 by late January 2024, marking an impressive 185% increase.
CoinCodex projects a possible decline in the price of VET to $0.026 on December 26, 2023, representing a small 3.7% drop from its current values. However, the site anticipates that VeChain will regain momentum in early January 2024.
Long-term projections for VeChain vary. Changelly, a cryptocurrency exchange company, predicts that VET will reach a maximum price of $0.0342 in January 2023, a rise of almost 22% from current levels. Changelly also foresees steady growth throughout 2024, with a possible peak of $0.0536 by December of that year. It is worth noting that Changelly’s projections differ from Ali Charts’ anticipation of VET reaching $0.077 in early 2024. This discrepancy may be due to Changelly not fully considering recent developments in VET’s consolidation phase. Furthermore, the overall cryptocurrency market’s potential bull run in 2024 further clouds VeChain’s future. VET has dropped more than 90% from its peak of $0.280 in April 2021.
EGRAG, a prominent cryptocurrency expert, has made a bold prediction for VeChain. EGRAG forecasts a massive 7,500% surge, potentially driving VET’s value to $2.3. This prediction suggests a significant increase from its current trading price of $0.02945. EGRAG sets three price targets: $0.11642, $1.05737, and the ambitious $2.3. These targets represent possible rises of 295%, 3,490%, and an astounding 7,500%.
Taking into account VeChain’s historical price fluctuations, EGRAG’s analysis notes that since its all-time high in 2021, the cryptocurrency has been trading in a downward range, forming lower highs and lower lows. However, in October, there was a noticeable change in sentiment as more people became enthusiastic about cryptocurrency. VET has experienced an impressive 80% increase since its low point in October, and EGRAG expects this growth to continue in the coming months.