VeChain: How Bullish Could VET Be In July?

Vinod Dsouza
VeChain VET Token
Source: / Shutterstock

VeChain started July on a positive note as its price remained on the greener side of the charts for three consecutive days. VET is up nearly 10% in the last three days signaling that it could remain bullish in the indices. The cryptocurrency has displayed positive sentiments as its price is up close to 40% in the last two weeks. Short-term investors made decent profits and are now gearing up for more returns this month.

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Source: Coingecko

However, will VeChain carry the momentum into the month and continue delivering profits in July? In this article, we will highlight how VET could trade in the indices in the next four weeks.

VeChain: Will VET Remain Bullish In July?

VeChain VET
Picture Credit: (The Coin Bureau)

Leading on-chain metrics and price prediction firm Wallet Investor has predicted that VeChain could briefly spike this month. According to the prediction, VET may rise approximately 15% in the next two weeks reaching a high of $0.0239. The prediction also stated that its price could slide down to $0.021 after touching a new monthly high of $0.023.

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Source: Wallet Investor

While the projection is slightly bullish, generating profits may remain challenging. The slight price rise leaves no room for short-term investors to pull the plug and book profits.

VeChain had doubled in price during Q1, 2023 jumping from $0.015 to $0.032. Nonetheless, it shed most of its gains in Q2 and struggled to scale up in the indices despite announcing partnerships with firms around the world. Read here to know how the VeChain Foundation moved ahead in incorporating blockchain technology to solve real-life business problems.

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At press time, VeChain was trading at $0.0207 and is up nearly 2.5% in the 24-hours day trade. However, VET is close to 93% from its all-time high of $0.28, which it reached in March 2020.