VeChain Price Prediction: 2024, 2025, 2030

VET price prediction: Key highlights

1. Primary support and resistance levels

• The lowest support level for VET was established at $0.014 on the weekly chart.
• Meanwhile, $0.095 might prove to be the highest point of resistance.

2. Market sentiment

• In May 2024, VET’s bullish momentum appears to be weakening. 

3. Predictive forecasts

• Based on our AI/ML predictive models, VET’s forecasted average approximate price for the year 2028 is projected to be $1. 
• By 2035, the average trading price could reach $150. 

Gain in-depth insights on VET through a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

VET technical analysis: Price succumbs to bearish pressure

In the in-depth analysis of the price chart for VET spanning from May 2023 to May 2024, a nuanced understanding of its price dynamics and future outlook has been developed. This has highlighted the complexities of cryptocurrency market behaviors and provided a VeChain price prediction for 2024.
 

The period under review started on a bearish note as VET's price faced rejection at $0.022. This precipitated a series of price declines. By June, a notable downturn resulted in VET falling to its lowest support level on the chart at $0.014. Attempts to recover mid-month were thwarted, bringing the price back to a precarious position to its lowest floor by mid-August.

A significant turnaround was observed by the end of October, marking the beginning of a pronounced rally. This momentum enabled VET to breach the prior resistances by December and claim $0.030 by mid-month. 

However, the journey was not without its setbacks, as a correction ensued, bringing the price back below this level by January. The narrative took a decisive turn in mid-February when a major price pump allowed the altcoin to not only surpass the $0.030 resistance but also reach a peak resistance at $0.050. 
 

This price level demonstrated significant resistance, as multiple attempts to surpass it were unsuccessful. Nevertheless, the bulls successfully managed to hold their ground at $0.041. This level proved to be a reliable support for nearly two months. 
 

As April ended, this price point reverted to acting as resistance. This decline was prompted by a broader market downturn, resulting in VET trading at $0.034.

Nonetheless, the presence of slightly bullish sentiment in the market leaves room for potential gains, with predictions of reaching as high as $0.061 in the subsequent months. Looking ahead to 2024, a speculative target of $0.095 might be attainable. This level can likely hinder the price’s journey to reclaim $0.1.
 

However, should a lasting downtrend take hold, VET's price could retract to the $0.030 support level. A more bearish scenario can even see it retracing its steps back to $0.022. 

Yet, based on projections from our prediction models, a continued growth trajectory for VET is anticipated. By 2028, the asset is predicted to trade at an average price of $1. This would entail reclaiming the all-time high (ATH) within the next four years. Further ascension can lead VET to an average trading price of $150 by 2035. 

VET's 2024 roadmap: Key indicators to watch and trade

• The Awesome Oscillator (AO) dipped below the zero line in mid-May. It returned to positive territory by mid-November. This highlighted a shift towards bullish conditions.
• The AO's positive values began to wane in mid-January. However, this trend reversed in February. The indicator lost momentum again starting in mid-March. As the analysis concluded, the indicator stood at 0.01053. This indicated that the bears were getting stronger.
• The trading volume reflected the price movements. Noteworthy positive price movements were consistently supported by surges in volume, suggesting that these upticks were backed by genuine buying interest. Additionally, investor withdrawal was apparent as the prices fell, signaling caution.
• The Bollinger Bands remained contracted for around seven months, indicating a phase of low volatility. However, as the price increased in late 2023, the bands began to expand again.
• The price even breached the upper band multiple times between November and March. It indicated that the asset was overvalued and that a correction could follow. This materialized when the candles fell below the upper band in March.
• The price started out being positioned beneath the 20-week Moving Average (MA). Heightened selling pressure pushed the price slightly below the lower band in June.
• VET successfully reclaimed a position above the 20 MA from late October onwards. Yet, this was reversed again in late April. This signified a weakening of buying momentum.