VeChain (VET) Price Prediction — Will VET Hit $0.3 Soon?

VeChain Price Prediction — Will VET Hit $0.3 Soon?
  • Bullish VET price prediction is $0.02354 to $0.24807.
  • VET price might also reach $0.3 soon.
  • VET bearish market price prediction for 2022 is $0.0144.

In VeChain’s (VET) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about VET to analyze the future movement of the cryptocurrency. 

VeChain (VET) Current Market Status

According to CoinGecko, the price of VET is $0.02356705 with a 24-hour trading volume of $141,149,429 at the time of writing. However, VET has decreased nearly 5.7% in the last 24 hours.

Moreover, VET has a circulating supply of 72,511,146,418 VET. Currently, VET trades in cryptocurrency exchanges such as Binance, Huobi Global, FTX, KuCoin, Bitfinex, Crypto.com, Gate.io, and MEXC.

What is VeChain (VET)?

VeChain (VET) is the native token operating on the VeChainThor public layer-1 blockchain. VeChain is based on a two-token system that hosts the tokens, VET and VTHO. Initially, VET was launched formerly as VEN, an ERC-20 token, on the Ethereum blockchain. Later in 2018, VEN was swapped onto the VeChainThor blockchain.

VeChain is based on a two-token system that hosts the tokens, VET and VTHO. VET is used as a payment token in the DeFi space whereas the latter serves as the energy token for facilitating the transactions. The blockchain relies on the proof-of-authority (PoA) consensus which demands validators to stake at least 25 million VET at the ‘authority master nodes’ along with providing their real identities.

VET has use cases extended over the off-chain markets too. It integrates blockchain-based tracking solutions with Internet of Things (IoT) deployed in supply chain systems in global enterprises.

VeChain (VET) Price Prediction 2022

VeChain holds the 35th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame.

VET/USDT Falling Wedge (Source: Tradingview)

The above chart of VET laid out a falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. 

This pattern indicates a breakout in the price trend towards an uptrend. From the above chart, we can interpret that the momentum of the downtrend is slowing down.

Currently, VET is in the range of $0.022. If the pattern continues, the price of VET might reach the resistance level of $0.15790. If the trend reverses, then the price of VET may fall to $0.01438.

VeChain (VET) Support and Resistance Levels

The below chart shows the support and resistance level of VET.

VET/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, we can interpret the following as the resistance and support levels of VET.

Resistance Level 1 $0.04288
Resistance Level 2 $0.06261
Resistance Level 3 $0.08346
Resistance Level 4 $0.15790
Support Level 1 $0.02098
Support Level 2 $0.01438
VET Resistance & Support Level

The charts show that VET has performed a bullish trend over the past month. If this trend continues, VET might run along with the bulls overtaking its resistance level at $0.15790.

Accordingly, if the investors turn against the crypto, the price of the VET might plummet to almost $0.01438, a bearish signal.

VeChain (VET) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of VET is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of VET lies below the cutoff line, indicating weaker participants in the current trend.

VET/USDT RVOL, MA, RSI (Source: TradingView)

Also, the Moving Average (MA) of VET is shown in the chart above. Currently, VET is in a bullish state. Notably, the VET price lies below 50 MA (short-term), so it is completely in a downtrend. Therefore, there is a possibility of a reversal trend of VET at any time.

Meanwhile, the relative strength index (RSI) of the VET is 36.47. This means that VET is in an oversold state. However, this means a major price reversal of ADA may occur in the upcoming days. So, traders need to trade carefully.

VeChain (VET) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of the VeChain (VET). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

VET/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of VeChain (VET). Currently, VET lies in the range of 26.15257, so it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of VET. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of VET lies above 50, indicating high volatility. In fact, VET’s RSI is at 36.47 thus confirming a potential buy signal.

Comparison of VET with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and VeChain (VET).

BTC Vs ETH Vs VET Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and VET is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and VET also increases or decreases respectively.

VeChain (VET) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses, VeChain (VET) might probably attain $0.5 by 2023.

VeChain (VET) Price Prediction 2024

With several upgrades in the network, VeChain (VET)  might enter a bullish trajectory towards hitting the $1 mark. If the coin grabs the attention of major investors, VET might rally to hit $1 by 2024. 

VeChain (VET) Price Prediction 2025

If VeChain (VET)  sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, VET would rally to hit $1.5. VET might establish its newer all-time high.

VeChain (VET) Price Prediction 2026

If VeChain (VET)  sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, VET would rally to hit $2.2. 

VeChain (VET) Price Prediction 2027

If VeChain (VET)  sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, VET would rally to hit $4. 

VeChain (VET) Price Prediction 2028

Despite the trends in the highly-volatile crypto market, if VeChain (VET)  holds up a strong stance as a better investment option for the next 6 years, it might drive significant price rallies. Thus, by 2028, VET would hit $5.1.

VeChain (VET) Price Prediction 2029

If investors flock in and continue to place their bets on VeChain (VET) , it would witness major spikes. VET might hit $8 by 2029.

VeChain (VET) Price Prediction 2030

With greater advancements in the VeChain ecosystem, the crypto community might continue to invest in VeChain (VET) for the next 8 years and drive significant price rallies for the token. Hence, VeChain (VET) might hit $10 by 2030.

Conclusion

With continuous improvements in the VeChain network, we can say that 2022 is a good year for VET. For this reason, the bullish price prediction of VeChain in 2022 is $0.24807. On the other hand,  the bearish VET price prediction for 2022 is $0.0144.

Furthermore, with the advancements and upgrades to the VeChain ecosystem, the performance of VET would help to reach above its current all-time high (ATH) of $0.280991 very soon. But, it might also reach $0.2 if the investors believe that VET is a good investment in 2022.

FAQ

1. What is the VeChain (VET)?

VeChain (VET) is the native token operating on the VeChainThor, a public layer-1 blockchain. It migrated from Ethereum blockchain to its independent blockchain in 2018. VeChain provides blockchain-based tracking systems to suplly chain enterprises.

2. Where can you purchase VeChain (VET)?

VeChain (VET) has been listed on many crypto exchanges which include Binance, Huobi Global, FTX, KuCoin, Bitfinex, Crypto.com, Gate.io, and MEXC.

3. Will VeChain (VET) reach a new ATH soon?

With the ongoing developments and upgrades within the VeChain (VET) platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of VeChain?

On April 19, 2021, VET reached its new all-time high (ATH) of  $0.28 .

5. Is VeChain (VET) a good investment in 2022?

VeChain (VET) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievVeChain (VET) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of VeChain in the past few months, VET is considered a good investment in 2022.

6. Can VeChain (VET) reach $0.2?

VeChain (VET) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then VeChain (VET) will hit $0.3 soon.

7. What will be the VeChain (VET) price by 2023?

VeChain (VET) price is expected to reach $0.5 by 2023.

8. What will be the VeChain (VET) price by 2024?

VeChain (VET) price is expected to reach $1 by 2024.

9. What will be the VeChain (VET) price by 2025?

VeChain (VET) price is expected to reach $1.5 by 2025.

10. What will be the VeChain (VET) price by 2026?

VeChain (VET) price is expected to reach $2.2 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.