- VeChain (VET) has recently experienced a remarkable surge, boasting a significant 76% increase since the onset of January 2023.
- Despite a minor 4.7% correction in the daily charts, the token maintains a strong momentum, reflecting a commendable 6% gain over the past week.
VeChain (VET) has been making significant strides in the cryptocurrency market, experiencing a remarkable surge of over 76% since the beginning of January 2023. Despite a minor correction of 4.7% in the daily charts, VET still boasts a commendable 6% increase compared to the previous week.
The momentum has been even more impressive in broader timeframes, with a surge of 34% in the monthly charts and an astonishing 66% growth over the past year.
Possible vechain Trajectory
Renowned cryptocurrency analyst Ali Charts suggests that VeChain’s rally might not be nearing its conclusion just yet. Drawing parallels with its consolidation phase from 2018 to 2020, Ali Charts predicts that VET could break past its $0.033 resistance level within the next two weeks. If this materializes, VeChain could potentially rally to an impressive $0.077 by late January 2024, marking a substantial 185% growth from its current levels.
Adding to the mix, cryptocurrency exchange platform Changelly offers its own perspective on VeChain’s potential trajectory. According to Changelly, VET is projected to hit a maximum price of $0.0342 in January 2023, indicating a gain of approximately 22% from its current levels. Looking further into the future, Changelly anticipates VET’s upward trajectory to persist throughout 2024, reaching a maximum of $0.0536 by December next year. Notably, this projection differs from Ali Chart’s more bullish outlook, potentially due to Changelly not fully incorporating recent developments related to VET’s ongoing consolidation phase.
It’s crucial to acknowledge that VeChain (VET) is currently down by over 90% from its all-time high of $0.280, achieved in April 2021. This historical context is vital when assessing the potential for future growth. The market’s response to VET’s recent consolidation phase and the broader crypto landscape, especially with the potential onset of a bullish trend in 2024, could act as catalysts propelling VeChain to new heights.
In conclusion, VeChain (VET) enthusiasts and investors are keeping a close eye on the unfolding developments in anticipation of a significant rally. As analysts offer varying predictions, only time will reveal whether VeChain will reach the projected $0.077 mark by late January 2024 or follow a different trajectory altogether.
