VeChain (VET) Price Prediction 2022 — Will VET Hit $0.1 Soon?

• Bullish VET price prediction is $0.02693 to$0.06433.
• VeChain (VET) price might also reach $0.1 soon.
• Bearish VET price prediction for 2022 is $0.02015.

In VeChain (VET) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about VET to analyze the future movement of the cryptocurrency.

VeChain (VET) Current Market Status

According to CoinGecko, the price of VeChain (VET) is $0.02392818 with a 24-hour trading volume of $109,988,679 at the time of writing. However, VET has decreased by nearly 6.7% in the last 24 hours. 

Moreover, VeChain (VET) has a circulating supply of 72,511,146,418 VET. Currently, VeChain (VET) trades in cryptocurrency exchanges such as Binance, FMFW.io, Upbit, WhiteBIT, KuCoin and KuCoin.

What is VeChain (VET)?

VeChain (VET) is the native token operating on the VeChainThor, a public layer-1 blockchain. Initially, VET was launched formerly as VEN, an ERC-20 token, on the Ethereum blockchain. Later in 2018, VEN was swapped onto the VeChainThor blockchain.

VeChain is based on a two-token system that hosts the tokens, VET, and VTHO. VET is used as a payment token in the DeFi space whereas the latter serves as the energy token for facilitating the transactions. The blockchain relies on the proof-of-authority (PoA) consensus which demands validators to stake at least 25 million VET at the ‘authority master nodes’ along with providing their real identities.

VET has use cases extended over the off-chain markets too. It integrates blockchain-based tracking solutions with the Internet of Things (IoT) deployed in supply chain systems in global enterprises.

VeChain (VET) Price Prediction 2022

VeChain (VET) holds the 35th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame.

The above chart of VeChain (VET) laid out theDescending triangle pattern. This pattern is often regarded as a characteristic of a bearish trend. It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. If the price action breaches the lower support level, the bearish trend would be sustained. Generally, a descending triangle pattern indicates the reversal of an uptrend or the continuation of the downtrend. Traders keenly look out for a significant breakout point.

Currently, VeChain (VET) is in the range of $0.02691. If the pattern continues, the price of VET  might reach the resistance levels of  $0.02691, and $0.03401. If the trend reverses, then the price of VET may fall to $0.02266.

VeChain (VET) Support and Resistance Levels

The chart below shows the support and resistance levels of VeChain (VET).

From the above daily time frame, we can interpret the following as the resistance and support levels of VET.

Resistance Level 1	$0.02693
Resistance Level 2	$0.03406
Resistance Level 3	$0.04630
Resistance Level 4	$0.06433
Support Level	$0.02015

The charts show that VeChain (VET) has performed a bullish trend over the past month. If this trend continues, VET might run along with the bulls overtaking its resistance level at $0.06433

Accordingly, if the investors turn against crypto, the price of VeChain (VET) might plummet to almost$0.02015 , a bearish signal.

VeChain (VET) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of VeChain (VET) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of VET lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of VeChain (VET) is shown in the chart above. Notably,  VeChain (VET) price lies below 50 MA (short-term), so it is in a downtrend. Currently, VET has entered a bearish state. Therefore, there is a possibility of a reversal trend of VET at any time.

Meanwhile, the relative strength index (RSI) of the VET is 43.98. This means that VeChain (VET) is in an oversold state. However, this means a major price reversal of VET may occur in the upcoming days. So, traders need to trade carefully. 

VeChain (VET) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of VeChain (VET). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of VeChain (VET). Currently, the ADX of VET lies in the range of 20.23502 and thus, it indicates a weak trend. 

The above chart also represents the Relative Volatility Index (RVI) of VeChain (VET). RVI measures the constant deviation of price changes over a period of time. The RVI of VET lies below 50, indicating low volatility. In fact, the RSI of VeChain (VET) is at 48.91 thus confirming a potential buy signal.

Comparison of VET with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and VeChain (VET).

From the above chart, we can interpret that the price changes of ETH and VET are moving in a similar trend. This indicates that when the price of ETH increases or decreases, the price of VET also increases or decreases respectively.

VeChain (VET) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses, VeChain (VET) might probably attain $0.4 by 2023.

VeChain (VET) Price Prediction 2024

With several upgrades in the network, VeChain (VET)  might enter a bullish trajectory towards hitting the $1 mark. If the coin grabs the attention of major investors, VET might rally to hit $0.7 by 2024. 

VeChain (VET) Price Prediction 2025

If VeChain (VET) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, VET would rally to hit $1 VET might establish its newer all-time high.

VeChain (VET) Price Prediction 2026

If VeChain (VET) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, VET would rally to hit $3.

VeChain (VET) Price Prediction 2027

If VeChain (VET) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, VET would rally to hit $6.

VeChain (VET) Price Prediction 2028

If VeChain (VET) holds up a strong stance as a better investment option for the next 6 years, it might drive significant price rallies. Thus, by 2028, VET would hit $9.

VeChain (VET) Price Prediction 2029

If investors flock in and continue to place their bets on VeChain (VET), it would witness major spikes. VET might hit $12 by 2029.

VeChain (VET) Price Prediction 2030

With greater advancements in the VeChain ecosystem, the crypto community might continue to invest in VeChain (VET) for the next 8 years and drive significant price rallies for the token. Hence, VeChain (VET) might hit $15 by 2030.

Conclusion

With continuous improvements in the VeChain network, we can say that 2022 is a good year for VET. For this reason, the bullish price prediction of VeChain (VET) in 2022 is $0.06433. On the other hand, the bearish price prediction of VeChain (VET) price prediction for 2022 is $0.02015.

Furthermore, with the advancements and upgrades to the VeChain ecosystem, the performance of VET would help to reach above its current all-time high (ATH) of $0.280991 very soon. But, it might also reach $0.1 if the investors believe that VET is a good investment in 2022.

FAQ

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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