VeChain (VET) Price Prediction 2022 — Will VET Hit $0.1 Soon?

VeChain Price Prediction — Will VET Hit $0.3 Soon?
  • Bullish VET price prediction is $0.02688 to $0.06380.
  • VeChain (VET) price might also reach $0.1 soon.
  • Bearish VET price prediction for 2022 is $0.01905.

In VeChain (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 VeChain (VET) is $0.01957777 with a 24-hour trading volume of $52,288,180 at the time of writing. However, VET has decreased by nearly 1.1% in the last 24 hours. 

Moreover, VeChain (VET) has a circulating supply of 72,511,146,418 VET. Currently, VeChain (VET) trades in cryptocurrency exchanges such as Binance, Upbit, WhiteBIT, KuCoin, LBank and Huobi Global. 

What is VeChain (VET)?

VeChain (VET) is the native token operating on the VeChainThor, a public layer-1 blockchain. 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 the Internet of Things (IoT) deployed in supply chain systems in global enterprises.

VeChain (VET) Price Prediction 2022

VeChain (VET) holds the 34th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame.

VET /USDT Ascending Traingle Pattern (Source: Tradingview)

The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows. If the trend breaks out at the resistance level, the price will continue to move up in this ascending triangle pattern.

Currently, VeChain (VET) is in the range of $0.0195777. If the pattern continues, the price of VET  might reach the resistance levels of  $0.02049, and $0.02256. If the trend reverses, then the price of VET may fall to $0.01901 & $0.01797.

VeChain (VET) Support and Resistance Levels

The chart below shows the support and resistance levels of VeChain (VET).

VET /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for VeChain (VET). 

Resistance Level 1$0.02688
Resistance Level 2$0.03406
Resistance Level 3$0.04639
Resistance Level 4$0.06380
Support Level$0.01905

The charts show that VeChain (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 $0.06420.

Accordingly, if the investors turn against crypto, the price of VeChain (VET) might plummet to almost $0.02019, a bearish signal.

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

The Relative Volume (RVOL) of VeChain (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 trading volume. Currently, the RVOL of VET lies below the cutoff line, indicating weak participants in the current trend.

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

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

Meanwhile, the relative strength index (RSI) of the VET is 40.29. This means that VeChain (VET) is nearly in an oversold state. However, this means a major price reversal of VET 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 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, the ADX of VET lies in the range of 33.52747 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of VeChain (VET). RVI measures the constant deviation of price changes over a period of time. The RVI of VET lies below 50, indicating low volatility. In fact, the RSI of VeChain (VET) is at 40.29 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 interpret that the price actions of BTC, ETH and VET are moving in a dissimilar trend. This indicates that when the price of BTC and ETH increases, the price of VET decreases. Also, when the price of BTC and ETH decreases, the price of VET increases.

VeChain (VET) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  VeChain (VET) might probably attain $0.3 by 2023.

VeChain (VET) Price Prediction 2024

With several upgrades in the network, VeChain (VET) might enter a bullish trajectory. If the coin grabs the attention of major investors, VET might rally to hit $0.5 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 $0.7. 

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 $1. 

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 $1.5.

VeChain (VET) Price Prediction 2028

If VeChain (VET) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, VET would hit $2.5 in 2028.

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 $3 by 2029.

VeChain (VET) Price Prediction 2030

With greater advancements in the VeChain ecosystem, the crypto community might continue to invest in VET for the next 8 years and drive significant price rallies for the token. Hence, VeChain (VET) might hit $4 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 (VET) in 2022 is $0.06380. On the other hand, the bearish price prediction of VeChain (VET) price prediction for 2022 is $0.01905.

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 $0.1 if the investors believe that VET is a good investment in 2022.

FAQ

1. What is 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 supply chain enterprises.

2. Where can you purchase VeChain (VET)?

VeChain (VET) has been listed on many crypto exchanges which include Binance, Upbit, WhiteBIT, KuCoin, LBank and Huobi Global. 

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

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

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

On April 19, 2021 VeChain (VET) reached its new all-time high (ATH) of $0.280991.

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 achievements of VeChain in the past few months, VET is considered a good investment in 2022.

6. Can VeChain (VET) reach $0.05?

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 $0.1 soon.

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

 VeChain (VET) price is expected to reach $0.2 by 2023.

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

 VeChain (VET) price is expected to reach $0.5 by 2024.

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

 VeChain (VET) price is expected to reach $0.7 by 2025.

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

 VeChain (VET) price is expected to reach $1 by 2026.                                   

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any 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.