- Bullish VELO price prediction for 2023 is $0.076681 to $0.076681.
- Velo (VELO) price might also reach $0.1 soon.
- Bearish VELO price prediction for 2023 is $0.001053.
In Velo (VELO) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about VELO to analyze the future movement of the cryptocurrency.
Velo (VELO) Current Market Status
| Current Price | $0.01093022 |
| 24 – Hour Trading Volume | $36,016,088 |
| 24 – Hour Price Change | 1.3% up |
| Circulating Supply | 4,984,154,058 |
| All – Time High | $2.29 (On March 08, 2021) |
What is Velo (VELO)?
Velo is Velo Labs’ token on the Stellar network, which is actually building a one-of-a-kind credit exchange network. The Velo protocol, a blockchain-based financial protocol that enables the issuance of digital credits and asset transfers for companies through smart contracts, powers the network.
Velo (VELO) Price Prediction 2023
Velo holds the 438th position on CoinGecko right now. VELO price prediction 2023 is explained below with a daily time frame.
The above chart of Velo (VELO) laid out a Descending channel pattern. Descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, Velo (VELO) is in the range of $0.012109. If the pattern continues, the price of VELO might reach the resistance levels of $0.013232 and $0.015290. If the trend reverses, then the price of VELO may fall to $0.011202 and $0.009750.
Velo (VELO) Support and Resistance Levels
The chart below shows the support and resistance levels of Velo (VELO).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Velo (VELO).
| Resistance Level 1 | $0.014872 |
| Resistance Level 2 | $0.076681 |
| Support Level1 | $0.003720 |
| Support Level 2 | $0.001053 |
The charts show that Velo has performed a bullish trend over the past month. If this trend continues, Velo might run along with the bulls overtaking its resistance level at $0.076681
Accordingly, if the investors turn against the crypto, the price of Velo might plummet to almost $0.001053, a bearish signal.
Velo (VELO) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Velo is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of Velo lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Velo is shown in the chart above. Notably, Velo (VELO) price lies above 50 MA (short-term), so it is in an uptrend. Currently, Velo has entered a bullish state. Therefore, there is a possibility of a reversal trend of Velo at any time.
Meanwhile, the relative strength index (RSI) of the VELO is 79.18. This means that Velo is in an overbought state. However, this means a major price reversal of Velo may occur in the upcoming days. So, traders need to trade carefully.
Velo (VELO) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Velo . It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Velo (VELO). Currently, the ADX of VELO lies in the range of 71.15 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Velo (VELO). RVI measures the constant deviation of price changes over a period of time. The RVI of VELO lies above 50, indicating high volatility. In fact, the RSI of Velo (VELO) is at 79.18 thus confirming a potential sell signal.
Comparison of VELO with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Velo (VELO).
From the above chart, we can interpret that the price actions VELO is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of VELO decreases. And when the price of BTC and ETH decreases, the price of VELO increases.
Velo (VELO) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Velo (VELO) between 2024 and 2030.
Velo (VELO) Price Prediction 2024
With several upgrades in the network, Velo (VELO) might enter a bullish trajectory. If the coin grabs the attention of major investors, VELO might rally to hit $1by 2024.
Velo (VELO) Price Prediction 2025
If Velo (VELO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, VELO would rally to hit $3.
Velo (VELO) Price Prediction 2026
If Velo (VELO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, VELO would rally to hit $5.
Velo (VELO) Price Prediction 2027
If Velo (VELO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, VELO would rally to hit $7.
Velo (VELO) Price Prediction 2028
Velo (VELO) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, VELO would hit $9. in 2028.
Velo (VELO) Price Prediction 2029
If investors flock in and continue to place their bets on Velo (VELO), it would witness major spikes. VELO might hit $11 by 2029.
Velo (VELO) Price Prediction 2030
With greater advancements in the Velo Ecosystem, the crypto community might continue to invest in VELO for the next 8 years and drive significant price rallies for the token. Hence, Velo (VELO) might hit $13 by 2030.
Conclusion
With continuous improvements in the Velo network, we can say that 2023 is a good year for VELO. For this reason, the bullish price prediction of Velo (VELO) in 2023 is $0.0706681 On the other hand, the bearish price prediction of Velo (VELO) price prediction for 2023 is $0.001053.
Furthermore, with the advancements and upgrades to the Velo ecosystem, the performance of VELO would help to reach above its current all-time high (ATH) of $2.29 very soon. But, it might also reach $0.1 if the investors believe that VELO is a good investment in 2023.
FAQ
1. What is Velo (VELO)?
Velo is Velo Labs’ token on the Stellar network, which is actually building a one-of-a-kind credit exchange network. Mike Kennedy founded the Velo platform and serves as its CEO.
2. Where can you purchase Velo (VELO)?
Velo (VELO) has been listed on many crypto exchanges which include KuCoin, OKX, Huobi, MEXC, and Bitfinex.
3. Will Velo (VELO) reach a new ATH soon?
With the ongoing developments and upgrades within the Velo platform, VELO has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Velo (VELO)?
On March 08, 2021 Velo (VELO) reached its new all-time high (ATH) of $2.29.
5. Is Velo (VELO) a good investment in 2023?
Velo (VELO) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Velo in the past few months, VELO is considered a good investment in 2023.
6. Can Velo (VELO) reach $0.1?
Velo (VELO) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Velo (VELO) will hit $0.1 soon.
7. What will be Velo (VELO) price by 2024?
Velo (VELO) price is expected to reach $1 by 2024.
8. What will be Velo (VELO) price by 2025?
Velo (VELO) price is expected to reach $3 by 2025.
9. What will be Velo (VELO) price by 2026?
Velo (VELO) price is expected to reach $5 by 2026.
10. What will be Velo (VELO) price by 2027?
Velo (VELO) price is expected to reach $7 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Source: https://thenewscrypto.com/velo-velo-price-prediction-2023/