Ali Martinez, a top analyst at Investopedia, predicts that VET will reach $0.60 in 2021 if the current price movement continues.
VeChain’s (VET) price has been ravaged by the ongoing bloodbath. VeChain, according to CoinMarketCap’s data, has dropped 19.7% during the past week, with VET currently priced at $0.03897.
Ali Martinez shared a positive prediction on X despite VET’s steep price decline in the previous week.
VeChain could soar as high as $0.60
Martinez’s recent analysis highlighted the striking similarity between VeChain’s current price movements and its performance in the period from June 2020 to December 2021.
The token price, if VeChain’s performance in 2020 is repeated, could drop to $0.032, possibly setting up a sustained upward trend towards $0.60.
Famous market observer shared screenshots of VeChain’s historical chart in order to show the potential movement towards the $0.60 level.
#VeChain The price movement from June 2020 to December 2021 is similar to the previous year. If the pattern continues, $VET Could pull back towards the upper border of the channel at $0.032, setting up a bullish continuation! pic.twitter.com/PVkpJZXW34
— Ali (@ali_charts) April 16, 2024
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VET’s current and past performances
VeChain traded between $0.01 and $0.002 in the months of June to December 2020. The token, however, went on an upward trend that culminated in a high of $0.2782 reached on April 17th 2021. VET, at the time this article was written, is still 86.08% from its all-time highest.
Martinez’s prediction suggests, however, that VET may surpass its all-time record if the trend continues between June and Dec 2020.
VET’s current $0.03897 price must increase by at least 1 439 % to reach its $0.60 goal.
VeChain’s performance hasn’t been as impressive in recent years, as it was for its peers. Amid the extreme volatility of the market as a whole, VeChain tokens have only increased by 14.1% in value since January.
Bullish VET predictions
Market analysts believe VET’s price will rise in the future and disrupt the entire crypto market.
As reported earlier, market expert EGRAG Crypto identified Formation of a triple-bottom pattern on VET’s graph could possibly push the token price to $1.6, meaning a 4,005% rise from the current value.
The analyst raised VET’s price target last month to $1.8, emphasizing The token is expected to reach its ambitious goal by next year.
Analysts from crypto trading platform Changelly issued A bold prediction was made for VET. It predicted that it would reach $10.77 in April 2040.
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