Popular crypto analyst EGRAG just predicted a massive 7,500% rally that will push VET to $2.3. VeChain (VET) is currently trading at $0.02945, but according to this analyst, the crypto is poised for price growth that would send it to three consecutive price targets.
EGRAG predicts VET to reach $2.3
The price of VET has had its price ups and downs this year, which reflects the general market volatility of crypto assets this year. The crypto saw a price spike very early in the year, growing 101% in the first two months from its 2023 opening of $0.01579 to reach $0.03186 in February. The crypto would then drop in price to a 2023 low of $0.01477 in the coming months.
However, things started to change in October as the entire crypto industry turned to bullish sentiment. VET is now up 80% from its low point in October, and according to EGRAG, growth will continue in the coming months.
In a recent post on social media platform A look at the shared price chart shows consecutive targets of $0.11642, $1.05737 and $2.3. These targets represent an increase of 295%, 3490% and 7,500% respectively from the current price.
As indicated on the price chart shared by EGRAG, VET has traded mainly in a down range, creating lower highs and lower lows since its all-time high in 2021. The crypto broke out of this range in October and has had five bullish candles formed on the three-week period.
VET market cap currently at $2.157 billion. Chart: TradingView.com
Using the Fibonacci indicator and the 2023 bottom as a starting point, the analyst mirrored the rise in vocational education from the 2020 low to an all-time high in 2021. Based on this, EGRAG noted that vocational education is at the point may recover in the next few years. months into 2024. If history repeats itself, we could see VET potentially push past the current all-time high of $0.28 before the second price target.
#VETERINARY SURGEON will unlock your financial chains.
Each goal – Goal 1, Goal 2 and Goal 3 – is achieved one by one. pic.twitter.com/wqteQXzG9w
— EGRAG CRYPTO (@egragcrypto) December 14, 2023
What’s next for VeChain (VET)?
is FAT from VeChain native token, a blockchain network that aims to streamline supply chain management with distributed ledger technology. Several crypto experts have made predictions about how high the price of vocational education and training could rise in the next bull market.
According to Ali Martinez, vocational education will see a 150% price increase in the next six weeks. The analyst noted that VET is currently reflecting the 2018-2020 consolidation phase. If history repeats itself, VET could break the resistance barrier at $0.033 within the next two weeks and eventually reach $0.077 in January.
#VeChainthe forgotten Chinese #Ethereumseems to reflect the consolidation phase we saw in 2018-2020!
If, $VET could break the resistance barrier at $0.033 within the next two weeks. The revival could steer #VETERINARY SURGEON to $0.077 at the end of January. That’s a price increase of 150%! pic.twitter.com/5E2g76H7yG
— Ali (@ali_charts) December 15, 2023
Featured image from iStock
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