VeChain Eyes All-Time High: Analysts Predict 1,921% Growth Potential

• Ali Martinez has predicted a significant week for VET, the native token of the VeChain blockchain.
• Martinez also thinks VET will reach $0.70 by November, establishing a new ATH.
• VET gained 25% last week, tracking Bitcoin’s upward trajectory.

Foremost crypto analyst Ali Martinez has predicted a significant week for VET, the native token of the VeChain blockchain. According to Martinez, VET may rally to $0.054 this week before entering a correction that could extend until June. Hsavee also thinks the blockchain token will embark on a bull run after the projected correction, reaching $0.70 by November.

VET has tracked BTC’s recent rally, gaining 11% on Wednesday, according to data from TradingView. However, VET’s weekly price movement was more significant, as the blockchain token gained 25%.

Martinez thinks VET’s current trajectory will follow historical patterns. The renowned crypto analyst used a VETUSD weekly chart from TradingView to show how the crypto is replicating its 2020 price behavior ahead of the 2021 bull run.

The shared chart showed a 595-day VET consolidation before kicking off an upward movement in the last bull season and reaching a $0.2782 all-time high (ATH). Hence, Martinez expects history to repeat itself following VET spending similar days in accumulation since 2022.

Martinez predicts VET will reclaim the $0.054 level this week, a price it last reached about two years ago. Doing so would see the blockchain token register a 56% gain from its current level. Meanwhile, the analyst’s long-term $0.7 November target would mark 1,921% growth for VeChain within ten months. Reaching $0.7 would see VET surpass its current ATH of $0.28, established in April 2021. 

VET traded for $0.038 at the time of writing, gaining 6% since trading opened today. The blockchain token faces a short-term resistance at $0.039, a break above which would see it continue upwards, in line with Martinez’s prediction.