VeChain is currently trading at the $0.04 mark and is mostly moving sideways this month. During the cryptocurrency market bull rally in February, VET spiked nearly 70% in the charts delivering massive profits to investors. The supply chain-based cryptocurrency is now retracing in price and shedding most of its gains in April.
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Now that VET is on the downside, can it pick up speed and rally in the charts? In this article, we will highlight a price prediction on how high VeChain can trade in the indices in April 2024.
VeChain: VET Price Prediction April 2024
Leading on-chain metrics and price prediction firm CoinCodex has painted a bearish picture on VeChain for April 2024. The price prediction for VET remains sideways with no profits but incurs minimal losses this month. According to the price estimates, VET could deliver 2% to 3% profits by mid-April 2024.
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Nonetheless, VeChain could begin to dip in the charts during the end of this month. The forecast indicates that a dip of 2% to 3% could be expected in the last few trading days of April 2024. Investors might end up losing money in VET as it is now attracting bearish sentiments.
Therefore, taking an entry position into VeChain currently might not generate profits for investors. It is advised to remain cautious before taking an entry position into VET as it has more downsides this month. A quick recovery in price is nowhere seen on the cards as all indicators point toward a ‘sell’ call.
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At press time, VeChain was trading at the $0.40 level and is down nearly 2% in the 24-hours day trade. VET is also down close to 86% from its all-time high of $0.28, which it reached in April 2021. It’s been three years now since VET failed to climb up the charts and beat its previous ATH.