VeChain (VET) seems to be following the larger crypto market rebound, rallying over 7% in the last 24 hours. VET is still trading in the red zone in the other time periods, down 2.3% in the weekly charts, 1.6% in the 14-day charts, and more than 18% over the preceding month, despite the recent turnaround.
Also Read: VeChain: $1000 Monthly Since 2020 Grows By Almost 100%
The latest market rebound could be due to traders overcoming their fears around the Mt. Gox reimbursement and the German government’s massive Bitcoin sales.
Analyst predicts VeChain to hit $1.5
According to crypto analyst EGRAG CRYPTO, VET is holding strong amid the whole BTC selloff saga. The analyst believes we are nearing a correction wave, which will be followed by another rally. EGRAG CRYPTO anticipates VET to reach $1.5-$1.8. Hitting $1.8 from current price levels would translate to a growth of about 7100%.
Vechain is expected to experience a minor decline by the middle of July, reaching $0.023 on July 16, 2023, based on data from CoinCodex. A drop of around 8% would occur if present values were to reach $0.023.
Also Read: VeChain: Here’s When VET Could Breach the $1 Mark
Changelly does not anticipate VET to breach the $1 mark any time soon. The platform predicts VET to hit $1 sometime between 2033 and 2040. Changelly expects VET to hit a maximum price of $1.93 in January 2040, about 16 years from now.
Telegaon paints a more bullish picture for VeChain, predicting the asset to breach the $1 mark by 2027, about three years from now. The platform anticipates VET to hit a maximum price of $1.48 in 2027.
It is possible that VET will breach the $1 mark much sooner than Changelly predicts, given certain factors play out, such as positive market sentiment, higher adoption for VET, and more utility.