In the dynamic world of cryptocurrencies, expert forecasts often spark interest among investors and traders. EGRAG CRYPTO, a notable analyst in the field, recently projected a substantial boost in the price of the altcoin VeChain (VET), based on a wave counting technique used in his analysis. The analyst’s chart suggests a potential significant upswing for VET, stirring excitement in the crypto community.
Analyst’s Predictions for VeChain’s Price Trajectory
Today’s market sees a 10% increase in VET’s value, with the current price reaching $0.03452. EGRAG CRYPTO anticipates that VET could hit $0.1, requiring a threefold increase from its current level. Following this initial surge, the analyst identifies a potential pullback, after which VET may climb back to $0.038.
The analysis doesn’t stop there; EGRAG CRYPTO outlines a third wave, indicating an aggressive spike in VET’s price, potentially touching $0.8. This scenario would demonstrate a significant gain for the altcoin.
Futures Prospects According to Wave Analysis
The fourth wave, as per the analyst’s speculation, points to another downturn where VET could drop to $0.27. Nonetheless, the fifth and final wave might propel the price towards an ambitious $1.6, marking an approximate 52-fold increase from its current valuation.
While these figures are not beyond the realm of possibility, they do require a broader perspective. With VET’s all-time high at $0.27 and a circulating supply of over 72 billion tokens, reaching a market cap of $120 billion would necessitate significant inflow into the crypto market, potentially reaching tens of trillions of dollars. The proposed target, though formidable, remains within the bounds of achievability, albeit with challenges.