VeChain ($VET ) is following the general trend of the cryptocurrency market, experiencing a major correction over the past few days. The coin is down 1% on the daily charts, 15.8% on the weekly charts, and 3.6% on the 14-day charts. However, VET has made some gains on the monthly and yearly charts, rising by 8.5% and 34.6%, respectively. In this price prediction article, let’s discuss how far VET could go over the coming weekend.

Why do asset prices fall?

VeChain (VET) is following the path of Bitcoin (BTC). The native coin briefly dipped below the $60,000 level, but later regained the $61,000 level.

BTC’s decline is attributed to concerns over geopolitical tensions in the Middle East. Iran’s attacks on Israel may have spooked investors, prompting them to shift their funds out of riskier assets like cryptocurrencies.

VeChain Price Prediction for the End of the Week

According to CoinCodex analysts, VET is expected to continue trading around $0.022 over the coming weekend. The platform expects VET to reach $0.022231 on Sunday, October 6, 2024. CoinCodex also predicts that the price of VET could drop further, reaching around $0.020 on October 10, 2024, which would mean a correction of around 9%.

When will VET reach $0.025?

Both Binance and CoinCodex do not expect VeChain (VET) to reach the $0.025 level anytime soon. However, since October is often a positive month for the cryptocurrency industry, there could be market momentum in the coming days.

If the conflict in the Middle East comes to an end, we may see positive developments in the market. The Federal Reserve may also cut interest rates by another 25 basis points in November, which would lead to an increase in prices.