Crypto analyst Egrag Crypto has made a price prediction for VeChain (VET) indicating new price peaks. The analyst put forward a striking forecast pointing to three price targets.
VET is currently trading at the level of $0.0295 and has reached its all-time high of $0.28 in April 2021. According to the chart shared by Egrag, after reaching this level in 2021, the price of VET has been moving within a falling parallel channel, and the formations on the chart have renewed investors’ hopes for a price increase.
According to Egrag’s prediction, a sudden movement on the chart could take VeChain to its first price target of $0.11642. This move would represent an approximate increase of 289.4% over VET’s current trading price, and it is anticipated that this expectation could be realized in 2024.
Even more intriguingly, Egrag’s forecast includes second and third price targets for VET above its all-time high (ATH). These price targets are thought to be achievable between the years 2024 and 2025.
The second price target is set at $1.05737, which would mean an approximate increase of 3,436.4% for the altcoin. In a more distant third price target, VET would need to reach the $2.3 level, which corresponds to a 7,592% increase over its current price.