VeChain (VET) Price Prediction 2022 - Crypto Analysis

VeChain (VET) Price Prediction 2022

VeChain holds the 37th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame.

The above chart of VET laid out the horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.

A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.

Currently, VET is in the range of $0.02545. If the pattern continues, the price of VET might reach the resistance level of $0.03322. If the trend reverses, then the price of VET may fall to $0.02361, and $0.02071.

VeChain (VET) Support and Resistance Levels

The below chart shows the support and resistance level of VET.

From the above daily time frame, we can interpret the following as the resistance and support levels of VET.
Resistance Level 1 $0.02667
Resistance Level 2 $0.03366
Resistance Level 3 $0.04358
Resistance Level 4 $0.06823
Support Level 1 $0.02025

VET Resistance & Support Level

The charts show that VET has performed a bullish trend over the past month. If this trend continues, VET might run along with the bulls overtaking its resistance level at $0.06429.

Accordingly, if the investors turn against the crypto, the price of the VET might plummet to almost $0.01284, a bearish signal.

Comparison of VET with BTC , ETH

The below chart shows the price comparison between Bitcoin , Ethereum , and VeChain (VET).

From the above chart, we can interpret that the trend of VET is more similar to that of BTC . Though the three cryptos seem to move in a similar trend, the trend of VET slightly differs from that of ETH. Notably, when the price of BTC increases, the price of VET also increases. And when the price of BTC decreases, the price of VET also decreases.
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