VeChain (VET) Price Prediction 2023-2030: Will VET Price Hit $0.05 Soon?

• Bullish VeChain (VET) price prediction ranges from $0.02 to $0.04.
• Analysis suggests that the VeChain price might reach above $0.033.
• The VeChain bearish market price prediction for 2023 is $0.0095.

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 2023, 2024, 2025, and 2030, keep reading!

VeChain (VET) Market Overview

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.

VET Current Market Status

The maximum supply of VeChain  (VET) is 86,712,634,466 VET, while its circulating supply is 72,714,516,834 VET, according to CoinMarketCap. At the time of writing, VeChain is trading at $0.01713 representing 24 hours increase of 5.34%. The trading volume of VeChain in the past 24 hours is $38,629,899 which represents a 29.57% decrease.

Some top cryptocurrency exchanges for trading VeChain are Binance, Huobi Global, Coinbase Exchange, and Kucoin 

Now that you know VeChain and its current market status, we shall discuss the price analysis of  VeChain  (FXS )for 2023.

VeChain (VET) Price Analysis 2023

Will the VeChain blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect VET’s sentiment over time? Read more to find out about VeChain’s 2023 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 considering the chart above, we can see that VeChain gained value from the beginning of 2023 to late February 2023. Thereafter, the token started to fall. Although there were attempts taken by the buyers to uplift the prices, the sellers were too strong and they outnumbered the buyers. As such, VeChain was making new lower lows. Currently, VET seems to be moving sideways. 

However, when looking at the Bollinger bands, it could be noted that VET has touched the upper Bollinger band. The last green candlesticks show that the buyers are active in the market. As such, there could be a period of high volatility for VET in the coming days. In case, VET is deemed as overbought by the market, then, there might be a correction for VET. 

The above chart shows VET has started a new uptrend after its prices fell. It seems that VET has reached the bottom and therefore, it may increase and gain value in the future. Moreover, the Bollinger band width indicator which reads a value of 56.35 seems to be climbing up. If it keeps on moving upwards, then, the volatility for VET may increase and the prices could go up drastically. 

VeChain (VET) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

The above chart shows how VET has been descending since late February making lower lows and lower highs. However, during the mid-week of June VET found some momentum increased a bit and started moving sideways with very little vertical movements. Currently, the RSI is increasing along with the increasing prices of VET. If VET keeps increasing, then the RSI which is at 60.79 may further increase. There is also the chance of it going into the overbought region. 

Additionally, the RSI could also be used to find divergences in the market. For instance, if the RSI makes a higher high when the token makes a lower high, then, it is a bearish divergence.

VeChain (VET) Price Analysis – Moving Average

The exponential moving average is not much different from the simple moving average. The EMA gives more weightage to the present prices while the SMA equally distributes the values to the frequency. Hence, when the EMA is plotted in the graph it gives a rough idea about how the cryptocurrency has been performing in the past. 

Moreover, the 50-day EMA is considered the short-term length, and the 200-day EMA is considered the long-term.  Whenever the 50-day EMA crosses the 200-day EMA from below it is called a Golden cross, while if it crosses from above, then it is a death cross. However, in this case, we will be using the 50-day EMA as the long-term length and the 10-day EMA as the short-term length. 

The chart above shows that most of the activity of VET was below both moving averages. This shows that VET was bearish in the short and long term. Currently, VET is testing the 50-day EMA and the buying pressure seems to be increasing. In the event more buyers join the market, then, there is a high chance that VET could go above the 50-day EMA and reach the 200-day EMA. 

VeChain (VET) Price Prediction 2023-2030 Overview

VeChain (VET) Price Prediction 2023

Considering the chart above, we can see that VET has been trading inside a falling wedge, since late February 2023. It has been making lower highs and lower lows on its trajectory downwards. Although on a few occasions, VET tried to recover it wasn’t able to gain value due to the immense selling pressure. 

As per the conventional breakout from a falling wedge, the VET might reach the $0.033 resistance level. To reach the aforementioned resistance level, VET will need to break the resistance at $0.026 and $0.020. 

However, the Bollinger bands denote that VET is overbought as it has touched the upper band. It will be interesting to see how either VET breaks the bands or the bands expand, to accommodate the drastic surge that may happen. Contrastingly, if VET crashes, then, it may look to land on its support at $0.015. However, if support at $0.015 is denied VET may seek the help of $0.0096. 

VeChain (VET) Price Prediction – Resistance and Support Levels

When looking at the chart above we could see that there was a drastic increase in prices for VET in 2021. This could have been due to the aftermath of the BTC halving. However, just after the spike, VET is currently crashing down. Although it got support from the 2:1 Gann line, it was only able to test the 4:1 Gann line, and the spike wasn’t long-lived. Currently, VET is moving sideways and may continue to move in that direction. 

VeChain (VET) Price Prediction 2024

There will be Bitcoin halving in 2024. Hence, we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum for VeChain based on the previous halving. Hence, we could expect VeChain to trade at a price, not below $0.06 by the end of 2024.

VeChain (VET) Price Prediction 2025

VeChain may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, VeChain will continue to rise in 2025 forming new resistance levels. It is expected that VeChains will trade beyond the $0.32 level.

VeChain (VET) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, VeChain could tumble into its support regions. During this period of price correction, VeChain could lose momentum and be way below its 2025 price. As such, it could be trading at $0.12 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. However, there’ll be a dip in price before the excitement will be reciprocated in EOS. As such, we could expect VeChain to trade at around $0.2 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, VeChain may reciprocate its past behavior during the BTC halving. Hence, VeChain would be trading at $0.25 after experiencing a considerable surge by the end of 2028. 

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, VeChain could be trading at $0.52 by the end of 2029.

VeChain (VET) Price Prediction 2030

After witnessing a bullish run in the market, VeChain 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, VeChain could be trading at $0.30.

VeChain (VET) Price Prediction 2040

The long-term forecast for VeChain indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then VeChain could fall in value. It is expected that the average price of VeChains could reach $0.87 by 2040.

VeChain (VET) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such VeChain could reach $1.34.

Conclusion

If investors continue showing their interest in VeChain and add these Coins to their portfolio, it could continue to rise. VET’s bullish price prediction shows that it could reach $0.04 level

FAQ

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.

More Crypto Price Predictions:

• Flow (FLOW) Price Prediction 2023-2030
• Filecoin (FIL) Price Prediction 2023-2030
• Monero (XMR) Price Prediction 2023-2030
• Polygon (MATIC) Price Prediction 2023-2030
• Bitcoin Cash (BCH) Price Prediction 2023-2030