VeChain (VET) is one of the most popular cryptos at the moment: the coin has delivered an impressive performance of +200% in just 30 days of trading.
The month of November seems to have ended positively for the market, suggesting the continuation of the bull phase for the “large caps” assets.
How far can VET go? What are the short and medium-term forecasts?
All the details below.
The moment of large-cap cryptos
After the latest pump of Vechain (VET) that moved its prices by 20% overnight, we can state that the time for “large caps” crypto has finally arrived.
Generally, during the bull market, there is always a time window in which high-capitalization coins outperform Bitcoin and offer incredible increases.
Here that window seems to be right in front of us, after assets like VET, XRP, ADA, XLM, HBAR, DOGE, SUI, and LINK have led the bull runs of November.
All these cryptos have grown exponentially in recent days, driven by a BTC dominance in decline and by sky-high euphoria.
VeChain seems to be one of the most closely watched projects from this narrative, ranking among the top 10 tokens for performance in the last 90 days.
#Vechain these are the top performers in the Top 50 for the last 90 days.
This is at the start of the biggest alt season in the biggest Bitcoin cycle we have ever seen to date. Take note of the leaders.
It is super clear that the rotation from meme casino to strong OG alts has… pic.twitter.com/FTTKKroZ0s
— raidenx (@benj_strong) December 3, 2024
December seems to present itself as the month of altcoins, where new trading opportunities can be found under the tree.
This positive momentum of the large caps comes with Bitcoin struggling to break the psychological threshold of 100,000 dollars.
At the same time, even Ethereum is unable to express its full potential, despite a good movement during the past week.
Compared to other bull market cycles, the one missing is precisely ETH, which still does not seem to have taken the situation in hand.
Usually, in fact, just before the push for large cap cryptos and the altseason, there has always been a parabolic phase for ETH. This time it seems to be late to the call.
VeChain (VET) achieves a performance of +200% in 30 days: the chart is “to the moon”.
VeChain (VET) emerges as one of the top performing cryptos of the day, with a positive price change of +32% in 24 hours.
The token prices have gone from 0.048 dollars to the current 0.064 dollars, adding almost 1 billion dollars of capitalization.
The chart surged suddenly from the beginning of November, bringing VET to its annual high.
Now the crypto is particularly far from the EMA50 on the daily time frame and could experience a small retracement before making the next move.
The RSI is in the overbought zone, exactly as happened at the end of February, just before the general collapse of the altcoin market.
Positive note on the front of the volumes, with the latest pump accompanied by substantial trades. The open interest on futures is also increasing, demonstrating the strong interest of VET for traders’ speculations.
Expanding the horizons on a weekly time frame, we notice that VeChain (VET) has just broken a level that had not been touched since April 2022.
The next targets for VET are set at the resistances of 0.08 and 0.10 dollars, where you will certainly find the offer ready to give a hard time.
If it were to break even the $0.10 mark, we could then aim for $0.15, a level that was marked as a local top before the bear market of 2022.
At that point, a bull continuation would project the crypto towards ATH, set at the modest figure of 0.28 dollars. The current price of VET is still in a drawdown of -77% compared to the all-time highs.
Attention also to a possible reaction from the bears who will try to push the crypto below 0.05 from now to the end of the year.
Short and Medium Term Forecast for Vechain (VET)
According to CoinCodex, VeChain (VET) is expected to have several more months of strong bull market, where its price will continue to rise.
In particular, the platform believes that the crypto asset will reach 0.09 dollars by March/April of next year.
In the following months, there will be a slight consolidation, leading to the break of 0.1 dollars by October 2025. Such a performance would mean a return on investment of 53% from the current values.
Taking as a chart analyst artificial intelligence, we see instead that the forecasts are largely more bullish.
According to ChatGPT, in the short term (by the end of the year) VET could visit the 0.012 dollars driven by the current market FOMO.
If then the entry of Donald Trump into the White House would create the ideal conditions for a bull market in crypto, there will be plenty of satisfaction for VET holders.
The price of the coin is projected to rise above 0.2 dollars by the end of 2025, reflecting a performance of +200% compared to today’s price.
The long-term forecasts are, however, the most tempting: by 2030 the VeChain project and its crypto VET should explode graphically. Prices could fluctuate between 0.86 and 2.50 dollars in the next 5 years, bringing the asset’s capitalization up to 200 billion dollars.
