VeChain (VET) Price Prediction 2024-2030: Will VET Price Hit $0.1 Soon?

• Bullish VeChain (VET) price prediction ranges from $0.045 to $0.1
• Analysis suggests that the VET price might reach above $0.085
• The VET bearish market price prediction for 2024 is $0.025.

VeChain is a platform built on the blockchain that promises to help businesses and organizations manage their supply chains better. VeChain (VET), formerly known as VeChainThor, is a platform that aims to lower entry barriers and make it possible for current enterprises to utilize the benefits of blockchain technology to address real-world issues.

If you are interested in the future of VET and want to know its predicted value for 2024, 2025, and 2030, keep reading!

VeChain (VET) Market Overview

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What is VeChain (VET)?

VeChain (VET) is a versatile L1 smart contract platform for enterprises. VeChain originated in 2015 as a private consortium chain, collaborating with a variety of businesses to explore blockchain applications. VeChain began its move to the public blockchain with the ERC-20 token VEN in 2017, before establishing its mainnet in 2018 under the ticker VET.

VeChain’s VeChainThor is a platform that intends to lower entry barriers and empower existing enterprises to leverage the value of blockchain technology to solve real-world issues. On its blockchain, VeChainThor stores an increasing number of business application values. In a word, VeChainThor aims to provide technical features tailored to the actual requirements of developers, users, and businesses.

The platform uses two tokens, VET and VTHO, to manage and produce value on its public VeChainThor blockchain. VET produces VTHO and serves as the value store and value transfer medium. VTHO is utilized to pay for GAS fees, freeing VET for data writing. This has the added benefit of ensuring that network costs may be kept steady by adjusting variables such as the amount of VTHO required to service a transaction or by increasing the pace of VTHO generation. +Such actions first require all-stakeholder community votes.

Sunny Lu is the creator and co-founder of VeChain. VeChain was founded to challenge traditional business paradigms, and it is most known for its work in the supply chain, an area that has altered little over the years. Its efforts to provide a decentralized trust layer for multi-party ecosystems have already shown significant results with high-profile clients and government agencies.

Consequently, the VeChain platform is appealing to a diverse range of businesses and consumers. According to the official VeChain documentation, the network’s unique selling point is its dual-token setup, along with transformative protocols like ‘fee delegation’ and its one-stop ‘ToolChain’ platform, which allow crypto-averse businesses to pay in fiat for VeChain’s Blockchain-as-a-service while smart contracts handle gas payment costs, guaranteeing frictionless use of the network even in strict jurisdictions.

Compared to technology like Bitcoin , VeChain’s (VET) proof-of-authority (PoA) token only needs a little processing power to ensure network security.

VeChain (VET) Current Market Status

VeChain (VET) has a circulating supply of 72,714,516,834 VET coins while its maximum supply is infinite coins, according to CoinMarketCap . At the time of writing, VET is trading at $0.0346 representing 24 hours increase of 9.87%. The trading volume of VET in the past 24 hours is $62,657,270 which represents a 34.95% increase.

Some top cryptocurrency exchanges for trading VeChain (VET) are Binance, KuCoin, Bithumb, and Bitfinex. 

Now that you know VeChain and its current market status, we shall discuss the price analysis of  VeChain (VET) for 2024.

VeChain (VET) Price Analysis 2024

Will VET’s demand continue to rise as time passes? Moreover, would the changes in the digital asset industry and privacy coins affect VET’s sentiment over time? Read more to find out about VET’s 2024 price analysis.

VeChain (VET) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility. 

VET/USDT 1-Day Chart Showing Bollinger Bands (Source: Tradingview )

The sections highlighted by red rectangles in the chart above show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. The green rectangle shows an occasion where VET hugged the upper band for quite some time. 

For data that follows normal distribution or Gaussian distribution, the empirical law states that 99.7% of data should fall within three standard derivations of the mean while 95% of data should fall within two standard deviations of the mean. And, 68% of data within one standard deviation of the mean. 

Since the Bollinger bands use two standard deviations, it is normal to expect the price of VET to abide within the two bands 95% of the time.

In recent times, VET has been testing the upper band and it has gone above the upper band at press time. There is a high chance that the price could retrace as it is overbought. Although there could be a small retracement that could happen within the bands, the trend might not change until VET reaches $0.038 and the traders take profit there.

VET/USDT 1-Day Chart Showing Bollinger Bands (Source: Tradingview )

The above chart shows the uptrend for VeChain in green and the downtrend in red. In recent times whenever the bands widened it was only during instances of uptrend. Currently, the Bollinger bandwidth percentile (BBWP) which plots the width of the bands reads a value of 78.57%. This shows that the bands are fairly gaping. And since the BBWP is moving upwards, there is a high chance that the bandwidth could further increase. 

When the buyers and sellers vary by a large margin, the demand and supply curve will be dismantled. When this happens, VET will be going in search of its next best price based on who rides the tide. If there are more buyers, VET will move upwards, and the opposite will happen when sellers are present. In VET’s case, if the bands widened, then, it possibly could be to search for a higher price. 

VeChain (VET) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. 

VETUSDT 1-Day Chart Showing Relative Strength Index (Source: Tradingview )

When considering the first green rectangle from the left of the chart below we can see that the  RSI is above the signal. Hence, VET is bullish and as a result, it is making higher highs. 

The second green rectangle shows that the RSI line (purple) is below the Signal line (yellow). As such, VeChain (VET) is bearish or losing value. Therefore it is reaching printing lower-lows as shown in the chart. 

The RSI reads a value of 72, which is in the overbought zone. However, when observing the RSI value for trend reversals, it could be seen that VeChain started to reverse only when the RSI hit 80 on its scale. As such, it is not wrong to assume that there is a high chance for the RSI to further move deep into the overbought zone. 

The white line indicates a previous bearish divergence.  This occurred as VET made a higher high when the RSI made a lower high. Thereafter the trend reversed. 

VETUSDT 1-Day Chart Showing Relative Strength Index (Source: Tradingview )

Although, the Relative Volatility Index (RVI) shares the same grounds with RSI in a few aspects, other things vary significantly when the RVI is compared with the RSI. For instance, the RSI measures the magnitude of the price changes while the RVI measures the standard deviation of price changes, which helps gauge the direction of market volatility. 

The RVI reads a value of 83. When the RVI is greater than 50 the market is usually in an uptrend and there could be volatility that could drive the price higher. On the flipside, if the RVI value of below 50, then, there is volatility to the downside. 

VeChain (VET) Price Analysis – Moving Average Convergence and Divergence (MACD)

The Moving Average Convergence and Divergence indicators use two exponential moving averages (EMA) to find how the cryptocurrency is doing. Usually, the longer EMA is the 26-day EMA, and the shorter is the 12-day EMA. The MACD is found by reducing the 12-day EMA from the 26-day EMA. If the MACD is positive, that means the crypto is performing well, but if it’s negative, then it is losing value.

VET/USDT 1-Day Chart Showing Moving Average Convergence Divergence(Source: Tradingview )

Moreover, the Signal line which the EMA of the MACD(orange) acts as a reference to the MACD. Hence, when the MACD is below the Signal line, the token is performing below par but when the MACD is above the Signal line, the token is preforming above the average. 

Currently, the MACD is in the positive region and reads a value of 0.00083. The MACD is titling upwards, hence, there is a high chance that it could be in the positive region for sometime. Those who have already bought VET may need to consider buying more or those who havent still entered into a long position may want to think about entering the market, as VET is set for a ride. 

Moreover, in recent times the MACD reversed only after reaching 0.00190. This might be another occasion where the price might reach that level. Usually, traders entering the market on long positions wait for the MACD to cross above the Signal line irrespective of whether the MACD is in the positive or negative region. Sellers usually make the entry into the market when the MACD cross the Signal below.  

VeChain (VET) Price Prediction 2024-2030 Overview

Year	Minimum Price	Average Price	Maximum Price
2024	$0.030	$0.085	$0.200
2025	$0.112	$0.280	$0.45
2026	$0.082	$0.15	$0.450
2027	$0.150	$0.200	$0.800
2028	$0.65	$0.85	$1.35
2029	$1	$1.57	$2.3
2030	$0.09	$0.95	$1.47
2040	$1.75	$3.59	$7.5
2050	$5	$7.85	$9.5

VeChain (VET) Price Prediction 2024

VET /USDT 1-Day Chart (Source: Tradingview )

The above chart shows that VeChain has been trading taking the Wyckoff pattern. At press time, it is just about to enter into the final stage (phase E). Since VET has cleared the resistance levels it will be just a matter of time before VET reaches above the $0.06. Moreover, there seems to be no hurdles for VET’s trajectory towards the above mentioned target. 

The yellow indicators the line along which this climb might take place. As VET is currently below the yellow trend line, traders may need to wait for the token to reach above this line, and it would be better if traders waiting for the formation of the next higher low for confirmation.

VET /USDT 1-Day Chart (Source: Tradingview )

The $0.06 target will be just a stopover for VET if the Wyckoff pattern is validated. This is because, if VET follows the conventional Wyckoff pattern, there is every chance that it could reach $0.85 by the book. However, if the bears manage to dismantle the Wyckoff pattern, they may need to break below the $0.025 line or the green dotted line as shown in the chart above. 

VET /USDT 1-Day Chart (Source: Tradingview )

Since the Point of Control (PoC) is at the invalidation area, there would be tooth and nail fight between the bulls and the bears. However, the Fixed Volume Profile shows that the Up Volume or the volume when the price increased seems to be greater than the Down Volume, hence, the bears might be denied at this point.  

VeChain (VET) Price Prediction – Resistance and Support Levels

VET /USDT 1-Day Chart Showing Resistance and Support Levels (Source: Tradingview )

The above chart shows that the 2:1 Gann line has been a great support for VET during the times it was losing value. After reaching the bottom, VET currently has shifted gears and has risen through the Gann lines swiftly. It has currently rebounded after resting on the 8:1 Gann line. There is a high chance that VeChain could test the 2:1 Gann line shortly.    

VeChain (VET) Price Prediction 2025

VET may experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market by creating a ripple effect on other altcoins. As such, VET will continue to rise in 2025 forming new resistance levels. It is expected that VET will trade beyond the $0.28 level.

VeChain (VET) Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. When the traders sell their VET and accumulate profits, VET will lose value. Hence, during this period VeChain could fall and reach $0.15 by 2026. 

VeChain (VET) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. VeChain may trade at around $0.200 by the end of 2027. 

VeChain (VET) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, VET will continue to form new higher highs and is expected to move in an upward trajectory. Hence, VET would be trading at $0.85 by the end of 2028 after experiencing a surge.

VeChain (VET) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected in the aftermath, VET could be trading at $1.57 by the end of 2029.

VeChain (VET) Price Prediction 2030

After witnessing a bullish run in the market, VET and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, VET could be trading at $0.95

VeChain (VET) Price Prediction 2040

The long-term forecast for VET indicates that this altcoin could reach a new all-time high(ATH). This would arouse new traders to enter the market. The average price of VET is expected to reach $3.59 by 2040.

VeChain (VET) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, VET could hit $7.85

Conclusion

If investors continue to show interest in VET and add these tokens to their portfolio, then, it could continue to rise. VET’s bullish price prediction shows that it could reach the $0.085 level. 

FAQs

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.