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VeChain Price Prediction – Will VET Price Hit $1 in 2021?

VeChain-VET-Price-Prediction
  • Bullish VET price prediction ranges from $0.2 to $0.8.
  • The VET price might also reach $1 soon.
  • VET bearish market price prediction for 2021 is $0.05.

This VeChain Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our VET price analysis and prediction.

The crypto market is continuously growing at an ever-accelerating pace. With the surge in investor participation and increasing dissatisfaction with traditional markets, crypto is becoming more diverse. Is VeChain one of the cryptocurrencies that are enjoying this financial upheaval? We will know in this VeChain price prediction article.

However, apart from its price, how much do we know about VeChain? Better yet, what is VeChain? Let’s find out about VeChain in this VET price prediction article.

What is VeChain (VET)?

VeChain is a blockchain-based platform that aims to improve the supply chain management of companies and organizations. It has partnered with various household names in different sectors. Some of these include BMW, Royal Melbourne Institute of Technology, and Oxford University.

At the helm of VeChain is Sunny Lu, who once worked for Louis Vuitton China and built massive IT and cybersecurity infrastructure.

VeChain has a public blockchain called VeChain Thor. It enables smart contracts, decentralized applications (DApps), on-chain governance, and more. Its native crypto asset has the ticker VET, which is available for trading on different exchanges.

Now that we have a little background on what is VeChain, let us proceed to our VeChain price prediction. Let us start analyzing the VeChain price’s recent movement.

VeChain Current Market Status

VET remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the VET price is $0.1352. Notably, VET was able to record an increased rate of almost 1.96% in the last 24 hours.

In terms of its market standing, VET market capitalization amounts to almost $8,744,206,535 with a 24-hour trading volume of over $883,763,180. As a result, the crypto ranks as one of the top 25 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that VET has come a long way in developing its technology throughout the years.

Now that you already have an idea about what VET cryptocurrency is, do you think VET is a good investment this year? If you are already excited to know, come, and together let us check this VET price analysis and price prediction article.

VeChain (VET) Price Analysis 2021

VeChain continues to be one of the trusted digital assets in the crypto world. VET ranks as one of the top 25 cryptocurrencies in CoinMarketCap.

Do you think this is enough to maintain VeChain’s uptrend position this year? Are you already curious? Therefore, join me and let us check the chart in this VeChain price analysis to find out.

VET USDT Showing Ascending Channel Pattern
VET/USDT Showing Ascending Channel Pattern (Source: TradingView)

Based on the chart above, VeChain positions itself along with the raging bulls. Today, VET trades at a high price of $0.136 with a 7 days increased rate of +21%.

In addition, we can see that VeChain recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, VET is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its $0.2 resistance level and reach the bullish price of $0.5. Of course, this is most likely to happen if the bullish market continues to reside with VeChain.

Conversely, if the bulls turn against the crypto, the price of VET might fall. In short, VeChain might break out from its uptrend position and nosedive to a bearish price of $0.08 to $0.05. Indeed, this price level is not a good picture in the eyes of the investors.

VET USDT Relative Strength Index
VET/USDT Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) of VeChain (VET) is at 68.53, indicating a nearly overbought state. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal.

Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of VET.

VET 30 day SMA and 50 day EMA
VET 30-day SMA and 50-day EMA (Source: TradingView)

VeChain is one of the potential cryptocurrencies this year. Since the start of 2021, VET’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidations, fluctuations, and corrections right away.

VeChain (VET) Price Prediction 2021

The VeChain network is one of the most active crypto this year in terms of technology development. Do you think this is enough to make VeChain a profitable network to invest in 2021? Let’s head to the chart in this VeChain price prediction to check it out.

VET USDT Price Chart
VET/USDT Price Chart (Source: TradingView)

The crypto is showing strong bullish signals against the bears. In this graph, the crypto trades at a high price of $0.136. If this bullish trend continues, VET might be able to break its $0.148  resistance level. It could even go further beyond $0.238 before the year ends and is likely to reach $0.5 – $0.8 in 2021 if the market continues to favor crypto.

However, if the market turns against the crypto, VET could experience a price decline, an event in favor of the bears. This bearish event could trigger a price roll back below $0.08 and could even fall deeper to $0.05. In this case, the crypto must find a way to regain its composure and recover back to its bullish position. Otherwise, the bears might turn the support level to the new resistance level, an event not favorable to investors.

VeChain (VET) Price Prediction 2022

If this bullish trend continues, VeChain will reach $2 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $2.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $2 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

VeChain (VET) Price Prediction 2023

The price of VeChain can move even great heights, however reaching $4. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency VeChain breaks past the psychological resistance level.

VeChain (VET) Price Prediction 2024

As per the latest upgrades, developments, VeChain price prediction, and new project forecasts of the platform. Moreover, this might boost the price of VeChain in the crypto market, and it will be the best investment as the price can spike and reach around $7.

VeChain (VET) Price Prediction 2025

In the next four years, VeChain prices could race up to $10. However, reaching this level could not be so difficult for VeChain as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that VeChain has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

VeChain has a bright future ahead of it in 2021. With the ongoing developments happening within the VeChain ecosystem, as well as in the overall crypto market, we may see VeChain reach new heights.

Bullish VeChain price prediction 2021 is $0.8. It may even reach over $1 if investors have decided that VeChain is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQs

What is VeChain?

VeChain is a technology ecosystem that uses blockchain technology to improve business processes, particularly supply chain management. It has its own public blockchain called VeChain Thor.

What is VeChain used for?

VeChain enables enterprise-grade DApps for supply chain management and other similar use cases. It also has a native cryptocurrency that functions as the gas within its ecosystem.

Is VeChain a good investment?

VeChain proved to be one of the active and busiest digital assets in the crypto world in the past year. With this in mind, it is wise to say that VET is a good choice of investment.

Will VET reach $1?

In terms of market position, VeChain has had a growth rate of over +796% in the past 12 months. If this trend continues, there is a big chance that VeChain can reach the bullish price of $1.

Is VeChain better than Ethereum?

In terms of technology and functions, VET and ETH both have unique quality features. Therefore, it is too early to tell which one is better than the other.

What will be the VeChain price by 2022?

VeChain (VET) price is expected to reach $2 by 2022.

What will be the VeChain price by 2023?

VeChain (VET) price is expected to reach $4 by 2023.

What will be the VeChain price by 2024?

VeChain (VET) price is expected to reach $7 by 2024.

What will be the VeChain price by 2025?

VeChain (VET) price is expected to reach $10 by 2025.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.