VeChain reached an all-time high of $0.281 in April 2021 during the peak of the bull run. However, VET dwindled in price thereafter as the markets entered the bearish territory in 2022 and up until 2024. The supply chain-based cryptocurrency is on a relentless dip showing no signs of recovery since 30 months in a stretch. The development is testing the patience of investors as VeChain is delivering losses with little to no gains.
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Now that the cryptocurrency market is gaining bullish momentum due to the Bitcoin ETF speculations, can VeChain reclaim its all-time high of $0.28 this year in 2024 after the SEC approves the BTC ETF? In this article, we will highlight the possibility that VET can breach its ATH of $0.28 in 2024.
VeChain: Will VET Breach Its All-Time High of $0.28 in 2024?
Leading on-chain metrics and price prediction firm CoinCodex has painted a bearish picture for VET in 2024 and beyond. According to the price prediction, VeChain might find it hard to breach its ATH of $0.28 this year in 2024. The firm predicts that the maximum price VET could trade in 2024 and 2025 is at the $ 0.12 level. That’s still a far cry from its ATH of $0.28.
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The prediction estimates that the nearest price point VET could reach close to its ATH is $ 0.27 in 2029. That’s another five years from today and a long time to hold on to as the markets are subjected to changes. In conclusion, VeChain might not breach its ATH of $0.28 in 2024 and 2025, and might not climb above it in this decade.
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At press time, VeChain was trading at $0.032 and is up close to 7% in the 24-hours day trade. However, VET is down nearly 89% from its all-time high of $0.28, which it reached in April 2021.