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 $0.015 on the weekly chart.
• Meanwhile, $0.095 might prove to be the highest point of resistance.

2. Market sentiment

• In July 2024, VET’s dominant trend is seen to be bearish. 

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, VET’s forecasted average approximate price for 2029 is projected to be $0.2. 
• By 2035, the average trading price could exceed $1. 

Uncover important data on VET through an extensive 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: Market drenches in red as bulls bleed

In the in-depth analysis of VET’s price chart spanning from July 2023 to July 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 trended southward, bottoming out at its lowest support level on the chart at $0.015 by mid-August. A significant turnaround was observed in mid-October, marking the beginning of a pronounced rally that overcame substantial barriers.
 

This momentum enabled VET to claim $0.027 by mid-December. However, the journey had setbacks, as the price encountered a corrective drop after testing $0.035. Notably, the former level provided a cushion to prevent further losses in January 2024.

The narrative took a decisive turn in mid-February when a significant price pump allowed the altcoin to not only surpass $0.035 but also reach a peak barrier at $0.050. This price level demonstrated significant resistance, as multiple attempts to surpass it were unsuccessful. 

Repeated rejections drained the buyers’ strength. From mid-April, VET continued to see red along with the broader market. Consecutive declines drove the price below $0.035 by early May. Subsequent tests of this level exacerbated the downtrend as $0.027 reverted to acting as resistance by mid-June. By the end of the analysis, VET traded at $0.026, up by 9% over the last week, as per CoinMarketCap.

This slight recovery was prompted by the mainnet launch of VeBetterDAO on June 30, 2024. AMBCrypto’s recent analysis revealed that VeChain's current market position could be a valuable opportunity for investors and holders. With its developments in the tokenization of Real-World Assets (RWA) and broader adoption through VeBetterDAO, VeChain is set for potential growth in the future. Additionally, historical data suggested that the price could recover.

If the bulls flip $0.035, it can leave room for a rebound, with predictions of reaching as high as $0.061 in the upcoming 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 $0.100.

However, should a longer downtrend take hold, VET's price could return to the $0.022 support level. In a more bearish scenario, it could even retrace its steps back to $0.015. 

Yet, based on projections from our prediction models, a modest but continued growth trajectory for VET is anticipated. By 2029, the asset is predicted to trade at an average price of $0.2. This would bring it closer to reclaiming the all-time high (ATH). Further ascension can lead VET to an average trading price of $1 by 2035. 

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

• The Awesome Oscillator (AO) recovered to register positive values by mid-November. Additionally, the loss of momentum in mid-January was reversed by the following month. 
• The positive values diminished again in mid-March, culminating in the AO dropping below the zero line in mid-June. As the analysis concluded, it stood at -0.00570, highlighting the market’s bearish bias.
• The trading volume reflected the price trajectory. Noteworthy positive price movements were consistently supported by surges in volume, suggesting that these upticks were backed by genuine buying interest. Furthermore, investor withdrawal was apparent as the prices fell, signaling caution.
• The Bollinger Bands remained contracted for nearly four months, with the price below the 20-week Moving Average (MA). As the uptrend started in late 2023, the 20 MA became support, triggering an expansion of the bands.
• The price breached the upper band multiple times between November and early March, indicating that the asset was overvalued and a correction could follow. 
• This materialized when the candles fell below the upper band in mid-month and even below the 20 MA by late April. This highlighted prominent selling pressure in the market.