The recent cryptocurrency market rally has pushed most top projects into the greens. VeChain (VET) has rallied 8.7% in the 14-day charts and more than 66% over the previous month. Moreover, the asset’s price has increased 87.5% since March 2023.
Nonetheless, VET has faced a 3.7% correction in the weekly charts, and the asset faces significant resistance at around $0.050.
Also Read: Is VeChain Consolidation Signaling a Future Breakout To $1.8?
When will VeChain (VET) hit $1?
Reaching $1 is no easy journey for VET. The asset’s price has to rally nearly 2074% from current levels to hit $1. However, users and investors are hopeful VET will eventually reach its target.
Also Read: VeChain March Rally: Potential Surge with New Tokens
According to Changelly, VeChain (VET) won’t breach the $1 mark till at least February 2032, about eight years from now. As for 2024, the platform anticipates the asset to hit a maximum price of $0.074, which it may attain in November. Reaching $0.074 from current levels would translate to a growth of about 60.8%.
Telegaon, on the other hand, predicts VET to breach the $1 mark in 2029, hitting a maximum price of $1.15 for the year. For 2024, Telegaon expects VET to hit a maximum price of $0.055. Reaching $0.055 from current levels would translate to a growth of about 19.5%.
Also Read: VeChain: How Much VET Do You Need to Make $1 Million At $2?
Both platforms do not anticipate VeChain (VET) to breach the $1 mark before 5-8 years. Investors may grow impatient and sell before VET reaches its $1 target. However, there is also the possibility that the project launches innovative initiatives, pushing the asset’s price towards $1 much sooner than anticipated. Furthermore, if BTC surpasses its all-time high, we may witness another market rally, further propelling VET’s price.