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- 1 The VET token price slumped nearly 17% in the past four intraday sessions.
- 2 VeChain crypto price dropped 7.27% in the past 24 hours and was $0.03 at press time.
VeChain price dropped sharply after failing to break above the high in the recent sessions. The VET/USD pair is likely to find a support near $0.029 which is the previous breakout zone.
Moreover, A 50-day EMA is also noted near the recent support over the daily chart suggesting that the price may rebound from the zone. Also, the price struggled to sustain above the 20-day EMA, the breakdown of which dragged the price to the 50 EMA.
VeChain is a blockchain platform that aims to use distributed governance and Internet of Things (IOT) to create an ecosystem which solves major data hurdles for multiple Industries.
It uses two tokens VET and VTHO, where VET is the main token. It is used for value transfer and VTHO is the gas token for fee payment.
The VET/USD daily chart highlights that the token price struggles for a firm footing at the upper levels. The price has sapped over 17% in the last four sessions and is currently headed to test the 50-day EMA.
The broader outlook of the trend is positive until the price is maintained above the 200-day EMA. The price may turn volatile and undergo a correction phase as the short term trend contradicts the long term.
VeChain Price Prediction January 2024
The positive view of analysts is an upside potential of over 28.68% which could take the VeChain crypto price above the $0.038 mark. While the bearish view of analysts hopes the price drops to the $0.023 level.
VeChain Price Prediction 2024
The optimistic view of analysts expects a price hike of over 77.56% by the year end which may take the price to a high of $0.053. Furthermore, the bearish view of analysts assumes the price to rise to a high of $0.043.
VeChain Price Prediction 2025
Over the next two years, the optimistic view of analysts expects that the VET price may reach a high of $0.083. The minimum forecasted price by the end of 2025 is $0.065.
VeChain Price Prediction 2026
The VeChain cryptocurrency price may reach a high of $0.098 if an optimistic trend prevails in the crypto market. On the flip side, the pessimistic view of the analysts expects the price to reach $0.079 by 2026.
VeChain Crypto Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts for the VeChain token estimates a price target of $0.128. The minimum price target that VET may achieve by 2027 is $0.105.
VeChain Crypto Price Prediction 2028
The analysts are optimistic about VeChain cryptocurrency (VET) for the upcoming years and predict that the price could go up to $0.147 in the next four years. However, the pessimistic analysts expect the price to reach a high of $0.126.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
