VeChain Price Prediction for May 2023: How High Could VET Go?

VeChain is trading at $0.022 and it is down nearly 10% in the last two weeks. VET doubled in price from January to February but shed most of its gains post-March. The crypto is unable to reclaim its yearly high of $0.032 and it is struggling to stay afloat in the indices. VeChain experienced little to no growth in April as its price remained stagnant for nearly 30 days straight. Will its fortunes change in May 2023 and could it rally next month? Let’s find out!

Also Read: Shiba Inu May 2023 Price Prediction: How High Could SHIB Go?

Source: Coingecko

VeChain: May 2023 Price Prediction For VET

vechain vet
Source: Twitter

The VeChain Foundation collaborated with a string of businesses around the world to solve problems facing the retail and supply chain industry. The foundation also provided solutions to environmental concerns using blockchain technology and went into new territories. Read here to know more details about the developments.

Coming back to the May 2023 prediction, on-chain metrics and price forecasting firm CoinCodex has estimated that VeChain could reach a maximum high of $ 0.026 next month. That’s an uptick of nearly 18.22% from its current price of $0.022.

Also Read: BRICS: U.S. Dollar Sliding 10 Times Faster Than Last 2 Decades

Source: CoinCodex

According to CoinCodex, VeChain’s price might not stay at the top for long and could slide after reaching $0.026. The forecast suggested that VET could also go below the $0.022 mark in May 2023. Therefore, VET has little to no chance of experiencing a rally in the next 30 days, claimed CoinCodex. The price prediction firm has given an overall bearish and ‘sell’ signal for VET in May 2023. Therefore, it is advisable to remain cautious before taking an entry position into VeChain during Q2 of this year.

Also Read: XRP Whales Begin Accumulation Spree, Could This Trigger a Price Rally?

At press time, VeChain was trading at $0.022 and is down 2.7% in the 24-hour day trade. VET is also down 92.09% from its all-time high of $0.28, which it reached in April 2021.

  • VeChain
  • VET

Comments

Post a Comment

Popular posts from this blog

Manta Network battles DDoS attack after TGE as new Telegram bot steals the show

Manta Network battles DDoS post-MANTA launch; 135M RPC requests flood, causing delays. Bitbot revolutionizes retail trading on Telegram with non-custodial, AI-backed solutions. BITBOT token presale unfolds across 15 stages, offering investors a structured opportunity. In a whirlwind of recent events, Manta Network faced a DDoS attack right after the successful launch of its MANTA token, causing a stir in the crypto community. Meanwhile, Bitbot, a Telegram trading bot, is making waves by empowering retail investors. Jin us as we delve into the challenges Manta Network is facing and explore Bitbot’s mission to put institutional-grade tools in the hands of individual investors. Manta Network DDoS attack Manta Network, a modular blockchain protocol renowned for its focus on zero-knowledge (ZK) application development, encountered a significant setback shortly after the launch of its governance token, $MANTA. The network experienced a Distributed Denial o...
Read more

DOGE price prediction as expert forecasts target above $0.10

Image
With the previous week bringing gains for the cryptocurrency market, some digital assets displayed promising signals that might indicate their future movement. Dogecoin (DOGE) is one of those. The TD Sequential has recently generated a buy signal on the 3-day chart for Dogecoin. The probability of a resurgence to $0.100 or beyond appears favorable, contingent upon the sustained stability of the $0.074 support cluster, per a post on X by crypto analyst Ali Martinez on January 14. TD sequential for Dogecoin on a 3-day price chart. Source: Ali Martinez The TD sequential is a robust tool crafted to pinpoint the precise moment of trend fatigue and subsequent price reversal. As a counter-trend instrument, it addresses the limitations observed in various technical Analysis indicators that prove profitable in trending markets but exhibit suboptimal performance in sideways or ranging markets. Another technical indicator is not so optimistic Many technical indicators should be employed t...
Read more

IRS, Treasury temporarily waive business crypto reporting requirements

IRS and Treasury say businesses do not have to report cryptocurrency receipts until new regulations are issued. In a press release on Jan. 16, the Internal Revenue Service (IRS) said in a joint statement with the U.S. Treasury Department that American business es do not have to report their receipts in crypto currencies the same way they do with cash. However, the regulators noted the exception will only last “until Treasury and IRS issue regulations.” “Treasury and the IRS intend to issue proposed regulations to provide additional information and procedures for reporting the receipt of digital assets, giving the public an opportunity to comment both in writing and, if requested, at a public hearing.” The IRS The announcement does not impact the rules in place before the Infrastructure Investment and Jobs Act for reporting cash received in the course of a trade or business, the IRS said, adding that cash transactions over $10,000 received in a trade or bu...
Read more