VeChain (VET) has surged by over 76% since January 2023. Although the token has faced a 4.7% correction in the daily charts, it is still up by more than 6% since last week. Moreover, the asset has surged by over 34% in the monthly charts and over 66% in one year.
Also Read: VeChain Working With United Nations in Sustainability Campaign
VeChain’s (VET) rally might not be over just yet. According to renowned cryptocurrency analyst Ali Charts, VET is currently mirroring its consolidation phase from 2018 to 2020. The analyst says VET could break past its $0.033 resistance level in the next two weeks. The development may cause VeChain to rally to $0.077 by late January 2024. The price increase would translate to a growth of about 185% from current levels.
Will VeChain (VET) rally this holiday season?
According to CoinCodex, VET’s price may drop to $0.026 on Dec. 26, 2023, a fall of about 3.7% from current levels. However, the platform anticipates the cryptocurrency to gain momentum by early January 2024.
Also Read: VeChain VET Surpasses over 900,000 Holders
Changelly predicts VeChain( VET) to hit a maximum price of $0.0342 in January 2023, a gain of about 22% from current price levels. Moreover, Changelly anticipates VET’s price to continue surging throughout 2024, hitting a maximum of $0.0536 by December next year. However, one should note that Changelly’s prediction does not align with Ali Chart’s anticipation of VET hitting $0.077 in early 2024. This is likely because Changelly has not factored in recent developments around VET’s latest consolidation phase.
Moreover, there is a possibility that the crypto market will enter a bull run in 2024, which could further propel VeChain’s (VET) price to new heights. VET is currently down by over 90% from its all-time high of $0.280, which it attained in April 2021.