VeChain VET Can Rally 4400% and Reach $1.60: Predicts Analyst

VeChain’s (VET) price had been slumping for most of 2023. However, the token began to generate steam towards mid-October and recently hit a yearly high of $0.038. VET is up nearly 20% in the 14-day charts and over 66% since the previous month. Since January, the token has rallied by over 130%.

VeChain (VET) recently hit a yearly high of $0.038, rallying more than 66% over the previous month
Source: CoinGecko

However, VeChain (VET) could reach much higher levels, according to some crypto analysts. Analyst Egrag Crypto recently took to X and stated that VET hitting a price of $1.60 is a “feasible goal.”

Also Read: VeChain: Here is How To Be a Millionaire When VET Hits $0.1

The analyst presents two price trajectories, “Move A” and “Move B.” The analyst highlights that VET had a similar pattern while climbing to its all-time high of $0.28 in 2021. According to the analyst, if VET takes the path of “Move A,” its price could surge three times its previous all-time high. On the other hand, “Move B” would result in a price target of $1.60.

Source: Egrag Crypto

However, VeChain (VET) has several resistance levels to breach before reaching the $1.60 target. The asset will need to rally more than 4400% from current levels. Nonetheless, Egrag Crypto is confident that VET will soon begin its journey upward.

Will VeChain (VET) continue to surge in January 2024?

VeChain (VET) recently hit a yearly high of $0.038, rallying more than 66% over the previous month
Source: Zipmex

VET has seen a sudden surge in price in the latter half of 2023. Moreover, some analysts anticipate VET to continue its bullish trajectory. According to Changelly, VET’s price may surge to $0.04 in January 2024. Additionally, the platform expects the token to continue rising throughout the year, reaching a maximum price of $0.06 by December next year.

Also Read: VeChain (VET) Can Rally 5300% And Hit $2: Here is When

Source: CoinCodex

CoinCodex, on the other hand, anticipates VeChain (VET) to consolidate at current levels. According to their analysts, the token may hover around the $0.03 level till at least January end 2024.

Comments

Popular posts from this blog

JPMorgan Bullish on Bitcoin’s Growth as Institutional Investment Pours In 

Dogecoin (DOGE) Price Analysis for Today, August 22 – DOGE Technical Analysis

OpenSea introduces Deals, monthly trading volumes slump 96% from January 2022