VeChain Price Prediction: VET Recovery Rally 2023 Expected, Analysts!

VeChain price prediction showcases the recovery momentum of VET cryptocurrency over the daily time frame chart.
VET crypto is trying to surge above 20, 50 and 100-days Daily Moving Average to reach 200-days DMA.
Analysts speculate VET rally by mid 2023 as VET breaks out of this primary resistance level over the daily chart.

VeChain price prediction points to the VET cryptocurrency’s recovery rally as soon as it breaks out of the resistance level. As soon as the accumulation rate rises and VET exits the primary resistance level at $0.025 , the VeChain price may hit the $0.1 recovery level. VET must sustain at the main resistance level of $0.244 for the VET cryptocurrency price to surge with strong uptrend momentum in order for the VeChain price to recover further and hit $0.1.

Vechain’s price was $0.02424 and during the day’s trading activity, it increased by 5.33% in market value. However, during the intraday trading period, trading volume has dropped by 15%. This shows that buyers are attempting a pullback. Market capitalization to volume was 0.04144.

Vechain price prediction indicates that the price of VET cryptocurrency is in an upward pattern over the charts. The intraday trading session needs to see an increase in trading activity as it is still below average. To achieve the 20, 50, 100, and 200-days Daily Moving Averages, the VeChain price is still rising in the meantime.

In the distribution period, Vechain’s price initially fell from the upper resistance level at $0.0286 and fell more than 30% to $0.019. However, the rate at which buyers accumulated drove the VET cryptocurrency towards $0.0244 but it couldn’t hold and fell yesterday. However, the Vechain price is still attempting to rise sharply.

VeChain Price Gaining for Rally 2023

The 2023 VET cryptocurrency is expected to grow at a faster pace than in the previous year, according to VeChain price prediction. Analysts predict that Vechain price will eventually hit $0.1, as whales are also contributing to the upward thrust.

VeChain price has gained 19.73% in the last week and risen around 0.35% in a month. Moreover, the quarterly report of VeChain price is positive with 46.08% of growth. VeChain price has recovered around 54.05% year to date confirming the facts of VET rally during 2023.

Will VET Crypto Price Reach $0.1?

Technical signs point to an upward trend for the price of VET cryptocurrency. Relative strength index shows the uptrend momentum of VeChain price. RSI had reached 50 and had exited neutrality.

VeChain Price’s upward rate is visible in MACD. After a positive crossing, the MACD line is higher than the signal line. VeChain investors must wait until the start of the cryptocurrency rally after VET breaks through the primary resistance mark of $0.025 in order to invest.

Summary

VeChain price prediction points to the VET cryptocurrency’s recovery rally as soon as it breaks out of the resistance level. Vechain’s price was $0.02424 and during the day’s trading activity, it increased by 5.33% in market value. The 2023 VET cryptocurrency is expected to grow at a faster pace than in the previous year, according to VeChain price prediction. Technical signs point to an upward trend for the price of VET cryptocurrency.

Technical Levels

Resistance Level: $0.025 and $0.030

Support Level: $0.0222 and $0.020

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing