- A crypto analyst has predicted that VeChain (VET) could imitate the previous cycle to stage one of the biggest rallies to hit $1.
- Another analyst believes that VET has already reached its lowest, and is on the verge of starting the strongest wave of this cycle.
VeChain (VET) has staged a marginal rebound with a surge of 0.22% in the last 24 hours, 3% in the last seven days, and 4% in the last 30 days to trade at $0.02278. However, its 24-hour trading volume remains 16% down, with $23 million changing hands at press time.
According to analysts, its mini rally could soon become intense as VET is on the verge of “hitting a turbo trigger” just as it did in the previous cycle. Based on our data, the previous cycle saw VET surging from an all-time low of $0.001677 on March 13, 2020, to recording an all-time high price of $0.2782 on April 17, 2021.
Delving Into VET’s Technical Analysis
Subjecting the asset to technical analysis, analyst EGRAG CRYPTO disclosed to his 57k followers on X that VET’s potential price target ranges from Fib 1.236, 1.414, and 1.618. This implies that the asset could surge by 4,324% to hit $1 in this cycle. According to him, he has comprehensively calculated the measured move from the previous cycle and applied his results to the low recorded in June 2023.
Analyzing his post, we found an accompanied chart that contains the historical price behaviors of VeChain before each massive take-off. In the chart, the analyst has marked a consolidation point as “Ignition Stage” where the asset consistently stages its rebound.
From the 2020 Ignition stage, VET recorded a surge of 6,538.99% to add $0.19888 to its price before taking a nosedive from its peak. From the 2024 Ignition stage marked by the analyst, VET is expected to add 0.85850 to its price in a similar percentage move to record an all-time high.
Similar Analysis and Prediction of VET by a Market Analyst
This analysis alludes to our earlier publication, where a renowned trader identified as Alan Santana observed that the VET/BTC pair is at its lowest in five years. According to this analyst, a similar position in 2019 marked the end of VET’s bearish wave and the beginning of a bullish cycle.
Explaining this further, Santana stated that the previous bullish cycle developed in a series of three waves where each wave was stronger than the previous one. In his post, the analyst disclosed that the cycle lasted for 595 days with a total of 1,291% move from the bottom.
Aligning this to the current cycle, the analyst pointed out that the September 16, 2024 low was the bottom. This implies that the bear market of the VET/BTC trading pair lasted for 1,246 days. According to him, 2025 could be the biggest bull market ever recorded in years.
We will have the biggest bull market in years… It will be the most amazing bull market the Cryptocurrency market has ever seen. It will be something for the record books because the market has never been this big before. The market has never been this big and this is the first time that Cryptocurrency is open and available to the whole world…There will be many millionaires coming out of this cycle, are you going to be one of those? Prepare yourself and work hard. Money is endless. There is no limit to how much wealth is available in the world.
