VeChain (VET) follows the general crypto market trend, facing a significant correction over the last few days. The asset is down 1% in the daily charts, 15.8% in the weekly charts, and 3.6% in the 14-day charts. VET has maintained some gains in the monthly and yearly charts, rallying 8.5% and 34.6%, respectively. In this price prediction article, let’s discuss how high VET may go over the coming weekend.
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Why Is The Asset’s Price Dipping?
VeChain (VET) is following Bitcoin’s (BTC) trajectory. The original cryptocurrency briefly fell below $60,000 but has since reclaimed the $61,000 level.
BTC’s decline is likely due to fears arising from geopolitical tensions in the Middle East. Iran’s attack on Israel may have spooked investors, leading them to redirect funds from risky assets, such as cryptocurrencies.
VeChain Weekend Price Prediction
According to CoinCodex analysts, VET will continue trading at around $0.022 through the coming weekend. The platform anticipates VET to hit $0.022231 on Sunday, Oct. 6, 2024. CoinCodex predicts VET’s price to dip further, falling to around $0.020 on Oct. 10, 2024. Sliding to $0.020 from current price levels will translate to a correction of about 9%.
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Binance analysts predict a slight rally for VET over the next few days. The platform predicts VET to hit $0.022468 on Saturday, Oct. 5, 2024.
When Will VET Hit $0.025?
Binance and CoinCodex do not anticipate VeChain (VET) hitting the $0.025 mark anytime soon. However, given that October is usually a bull month for the crypto industry, the cryptocurrency market may generate momentum over the next few days.
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If the conflict in the Middle East ceases, we may notice bullish market developments. The Federal Reserve may also cut interest rates by another 25 basis points in November, leading to a price bump.
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