Archived Article This article was published more than 5 months ago. The market data, prices, forecasts, and analysis were accurate at the time of publication but may have changed since then. Please use this article for historical reference only and refer to our latest content for current market information.
- VeChain Price Prediction: VET crypto is
VeChain price is up more than 25% this week. The bullish momentum may continue if VET crypto gains strength above a major resistance on the weekly chart. However, before getting deep into technical analysis, let’s have a look at the current state of crypto markets.
On Tuesday, crypto markets continued their yearly rally as the Bitcoin price broke above $44,000. At press time, BTC was trading at 44,058 which is only 1.5% below the yearly highs of 44,800. If the momentum sustains, the leading cryptocurrency may surge to fresh yearly 52-week highs soon.
This bullish BTC price action also caused a surge in altcoins. As a result, VeChain emerged as one of the best performing altcoin of this week as it extended gains for the 5th week in a row.
This translates into a 164% increase from its yearly low of $0.013 which was made in June 2023. However, the VeChain price prediction 2024 depends on the outcome of the ongoing retest of $0.034 level. Therefore, bullish continuation would only be possible if VET closes a week above this level.
This would put a retest of the 0.039 level on the cards which is a previous support and may now act as a resistance. Another bullish price target could be $0.052.
