VeChain (VET) has faced a massive price correction over the last few months. The asset has slipped to the 55th position among the top projects by market cap. VET’s price is down 1.2% in the daily charts, 17.3% in the weekly charts, 12% in the 14-day charts, 24.2% in the monthly charts, and 44.6% since April 2024.
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Cryptocurrencies Dip On Liberation Day
President Donald Trump said that he would announce new tariffs for India, Japan, and other countries on Apr. 2, a day he called “Liberation Day” for Americans. Market participants may be weary about the upcoming tariffs. Risky assets such as cryptocurrencies have taken a massive hit. VET and most other crypto assets are trading in the red zone today.
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Macroeconomic headwinds have presented considerable challenges to the crypto market. The Fed has paused interest rate hikes but has yet to announce a rate cut. A rate cut could lead to a spike in investor sentiment.
VeChain Prediction For April 5
According to CoinCodex, VET may rally over the next few weeks. The platform anticipates the asset to trade at $0.023 on Apr. 5. VET’s price will rally by 4.55% if it hits the $0.023 target on Apr. 5. CoinCodex does not expect VET’s price to stop at $0.023. The platform anticipates the asset to hit $0.039 on Apr. 20. The asset’s price will rise by 77.27% if it hits the $0.039 target.
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There is also a possibility that VeChain (VET) will not rally as predicted. Investors may continue to hold out on risky assets. Trump’s tariffs may hurt market participants. Macroeconomic factors may also present a challenge to crypto investments. How the market performs over the coming weeks is yet to be seen.