VeChain Price Prediction – Will VET Hit $0.20 soon?

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Bullish VET price forecast is $0.055 to $0.158. The VET price may also reach $0.20 soon. The bearish market price forecast for 2022 is $0.044.

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

VeChain Current Market Status

According to CoinGecko, the price of VET is $0.057 with a 24-hour trading volume of $313,283,747 at the time of writing. However, VET has increased by almost 3.3% in the last 24 hours.

In addition, VET has a circulating supply of 66,760,741,299 VET. Currently, VET trades cryptocurrency exchanges such as Binance, Mandala Exchange, Hotcoin Global, FTX, and Bybit.

What is VeChain (VET)?

VeChain (VET), a blockchain-related supply chain platform. Moreover, the project was started in 2015 and launched in June 2016. However, VeChain aims to use distributed governance and the Internet of Things (IoT) to develop an ecosystem that solves a number of supply chain management problems.

The platform uses two internal tokens, VET and VTHO, to help and create value based on the public VeChainThor blockchain. More than that, the idea is to increase the efficiency, traceability and transparency of supply chains, but reduce costs and put more control in the hands of individual users.

VeChain (VET) Price Forecast 2022

VeChain currently ranks 40th on CoinGecko. The VET price forecast 2022 is explained below with a daily time frame.

VET/USDT Horizontal Channel Pattern (Source: Tradingview)

A horizontal channel or side trend has the appearance of a rectangular pattern. It consists of a minimum of four contact points. This is because it takes a minimum of two bass to connect, as well as two treble. The buying and selling pressures are equal, and the prevailing direction of price action is sideways. Horizontal channels form in periods of price consolidation. The buying and selling forces are similar in a horizontal channel until a breakout or outage occurs.

Currently, vocational education is in the $0.056 range. If the pattern continues, the price of VET may reach the USD 0.158 resistance level. If the trend reverses, the price of VET could fall as low as $0.044.

VeChain (VET) support and resistance level

The chart below shows the support and resistance level of VET.

VET/USDT support and resistance level (Source: TradingView)

From the above daily time frame, it is clear that the following resistance and support levels are from VET.

Resistance Level 1 – $0.063Resistance Level 2 – $0.082Resistance Level 3 – $0.113Resistance Level 4 – $0.158Support Level – $0.044

The charts show that VET has been on a bullish trend for the past month. If this trend continues, VET could catch up with the bulls catching up to its resistance level at $0.158.

Accordingly, if the investors turn against the crypto, the price of the VET could drop to close to $0.044, a bearish signal.

VeChain Price Forecast 2022 – RVOL, MA and RSI

The relative volume (RVOL) of VET is shown in the graph below. It is an indicator of how the current trading volume has changed over time from the previous volume for traders. Currently, VET’s RVOL is below the boundary line, indicating weaker participants in the current trend.

In fact, the moving average (MA) of the VET is shown in the chart above. Currently, VET is in a bullish state. It is striking that the VET price is above 50 MA (short term), so completely in an upward trend. Therefore, at any time, there is a possibility of a turnaround in vocational education.

Meanwhile, the Relative Strength Index (RSI) of vocational education stands at level 60.80. This means that vocational education is almost overbought. However, this means that there could be a major price reversal of ADA in the coming days. So traders should act with caution.

VeChain Price Forecast 2022 – ADX, RVI

Now let’s look at VeChain’s Average Directional Index (ADX). It helps to gauge the overall strength of the trend. The indicator is the average of the growing price range values. This system attempts to measure the strength of price movements in positive and negative directions using DMI indicators with ADX.

The chart above shows the ADX of VeChain. Currently, VET is in the 14.15 range, so it indicates a weak trend.

From the chart above, the relative volatility index (RVI) of VET. RVI measures the constant deviation of price changes over a period of time rather than price changes. VET’s RVI is above 50 levels, indicating that the direction of volatility is high. In fact, VET’s RSI is at the 60.80 level, confirming a potential buy signal.

VET comparison with BTC, ETH

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

Price Comparison BTC vs ETH vs VET (Source: TradingView)

From the chart above, we can see that the trend of the ETH, BTC, and VET is moving at the same level as the trend. This indicates that when the price of BTC rises or falls, the price of ETH and VET also rises or falls, respectively.

Conclusion

With continuous improvements in the VeChain network, we can say that 2022 is a good year for VET. For this reason, VeChain’s bullish price forecast in 2022 is $0.158. On the other hand, the bearish VET price forecast for 2022 is $0.044.

In addition, with the advancements and upgrades of the VET ecosystem, the performance of VET should help rise above the current all-time high (ATH) $0.11 very soon. But it could also reach $0.20 if the investors believe that vocational education and training in 2022 is a good investment.

FAQ

1. What is the VeChain?

VeChain is a blockchain-based platform designed to improve supply chain management and business processes.

2. Where can you buy VET?

VET has listed on many crypto exchanges, including Binance, Mandala Exchange, Hotcoin Global, FTX, and Bybit.

3. Will vocational education soon reach a new ATH?

With the continuous developments and upgrades within the VET platform, it has a high probability of reaching its ATH soon.

4. What is VeChain’s current all-time high (ATH)?

On April 19, 2021, VET reached its new all-time high (ATH) of $0.28.

5. Is MBO a good investment in 2022?

VeChain (VET) appears to be one of the top scoring cryptocurrencies this year. According to the registered VET performance in recent months, VET is considered a good investment in 2022.

6. Can VeChain (VET) reach $0.20?

VeChain (VET) is one of the active cryptos that continues to maintain its bullish status. Ultimately, if this bullish trend continues, VeChain (VET) will soon hit $0.20.

7. What will the VET price be in 2023?

The price of VeChain (VET) is expected to reach $0.5 in 2023.

8. What will the VET price be in 2024?

The price of VeChain (VET) is expected to reach $1 in 2024.

9. What will the VET price be in 2025?

The price of VeChain (VET) is expected to reach $1.5 by 2025.

10. What will the VET price be in 2026?

The price of VeChain (VET) is expected to reach $2.2 in 2026.

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

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