VeChain (VET) has been performing very well lately. Its price has increased by more than 36 percent in the past week, bringing its price to $0.033. With this, the coin has not only caught the attention of investors, but also of crypto analysts.
According to popular analyst Crypto Erdem, VET is poised to rise even higher after breaking out of a 20-week consolidation. The analyst suggests that the price could even climb to $0.10.
Optimistic Predictions for VeChain (VET)
Crypto Erdem is not the only one who is positive about VeChain. Niklas Theisen, another analyst, shares this optimistic view on the VeChain price. He notes that VET has increased by more than 46% since its low on July 5. Theisen emphasizes that the price of VET will continue to rise as long as it remains above the 0.236 Fibonacci retracement level. Additionally, he believes that VeChain is currently one of the stronger assets in the market.
According to a report by Fintech Insights, VeChain could reach between $0.50 and $0.70 by the end of 2024. This is driven by the increasing adoption and integration of blockchain technology across industries.
This positive outlook is supported by VeChain’s practical applications in supply chain management, which have already attracted major partners such as Walmart and PwC. These collaborations improve transparency and efficiency, which increases investor confidence.
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Source: https://newsbit.nl/vechain-koers-klaar-voor-gigantische-prijsstijging-van-60/
