VeChain Price Prediction: Will VET Price Hit $10?

VeChain is one of those cryptocurrencies that stood out in 2021. The VET coin shot up over 1000% when the cryptocurrency market boomed that year during the March 2021 bull run. However, VET prices faltered quite a bit and wiped out the majority of gains after crypto market adjustment. Today in 2022, prices are falling sharply, as part of a bearish move. Can the VET coin rise again in 2022 and change its downtrend? In this Vechain Price Prediction, we will try to analyze the question: will the VET price soon reach 10 dollars? We’ll see.

VeChain Price Prediction: VET Prices Are Down Since November 2021

VeChain is a blockchain that focuses on serving the supply chain industry. The blockchain is backed by a proof-of-authority consensus instrument.

After the first cryptocurrency crash that occurred in May 2021, Vechain prices touched a low of $0.06. From there, prices tried to bounce back and hit a substantial price resistance at $0.16. Furthermore, following the cryptocurrency market, prices fell back to the price of $0.046 in February 2022, giving up more than 65% of the value in less than 3 months.

VeChain Price Prediction

VET/USDT Weekly Chart – GoCharting

As of this writing, the VET price is at $0.022. In the last seven days, the price is down almost -13.7%. The bear market is fully intact and could push prices further lower shortly. But how far could FP drop?

If we take a look at the VeChain price weekly chart, we can notice that the price is currently in a support zone. This support zone is located between $0.02145 and $0.02546. Once the bottom of the location ($0.0220) is broken, we anticipate prices to drop sharply again. Assuming the entire crypto market, we would anticipate the support zone to drop. The entire crypto market is somewhat bearish, so a bearish breakthrough is more possible than a deadlock.

How low could VeChain go?

If the support zone breaks down, we believe that VeChain price will slowly work the supports. The least we anticipate is touching the support at $0.018. There, the price could renew for the first time and then fall further. So we predict a final sale. This could go to the $0.008 support. Therefore, the psychological mark of $0.01 would also split. In our eyes, this could also be the ground. Whether it will be the floor or not, only time will tell in the coming weeks/months.

>> CLICK HERE TO BUY VeChain <

Vechain Price Prediction: Will VET Touch $10 in 2022?

VeChain Price Prediction

VET/USDT daily chart – GoCharting

Looking at the daily chart, Vechain is certainly in a buy zone. Traders would like to make sure that prices decline a bit more before placing buy orders. On the other hand, the VET price is deeply influenced by the entire crypto market as a whole and particularly by Bitcoin.

If Bitcoin persists in falling lower touching 17K, the VET price is anticipated to break the strong support at $0.015 and even touch the next support at $0.012.

On the other hand, if the cryptocurrency market tends to pick up, Vechain price can certainly make excellent progress. The advantage far outweighs the disadvantage, of course, by using proper risk control when making trades. If we were to extend a long position at the current price or higher relative to the support level, our take profit mark could be good. It is very important to note that the Vechain price is completely based on the Bitcoin price trend. If Bitcoin persists in going down, VET will most likely reach the support levels mentioned above. Only when the trend of Bitcoin changes upwards, the structure of Vechain will make sense and profit.. So the $10 mark right now seems impossible.

>> CLICK HERE TO BUY VeChain <


you might also like


More from Altcoins

Leave a Comment