VeChain has been listing higher highs and higher lows for weeks now, indicating that there is a bull run waiting around the corner. The bullish phase may take VET to a new all-time high of 1$ in the following months. Investors are surely hoping that the intrinsic and technical value of VET and its prominent partnerships should also reflect on the market price by the end of 2021. VeChain nitrated their technology with China’s supply chain, while a partnership with IBM has also been announced recently. Moreover, VET is currently one of the top movers in the market with over 1200% of returns for the year. Can VeChain reach 1$ by the end of the 2021 crypto bull run?
VeChain (VET) Market Performance
- VET is trading at the price of 0.060$ after the last price correction, trading -10% down since reaching its ATH at 0.068$ on March 8th
- VET is showing gains by 14% on the weekly chart
- The crypto is showing gains on the biweekly and monthly chart as well, with over 40% and over 90% of gains respectively
- The yearly chart is recording exceptional returns of 1200%
- VeChain is down by -4.2% on the daily chart
VeChain Price Forecast: Can VeChain Reach 1$ by the End of 2021?
In the case of VET keeps the current tempo, it is not hard to imagine VeChain reaching the price target of 1$. VET has a somewhat strong utility case concerning its involvement with supply chain technology, which may be the spinning wheel for the next bull run. Like all other cryptos to some extent, VET is also pulled by the momentum of the top crypto, Bitcoin, which can pose as another positive factor in terms of taking on a bullish pace. With the current momentum, the 1$ target looks more than possible for VET in the next 3 quarters of 2021.
Image credits: Cover photo taken from CryptoTill on Reddit