VeChain (VET) appears to be following the bigger market rebound, rallying 3.1% within the final 24 hours and 5.7% over the earlier month. The asset continues to glow purple within the weekly and 14-day charts, dipping 4.5% and eight.4%, respectively.
Also Read: VeChain: $1000 Monthly Since 2020 Grows By Almost 100%
The latest resurgence could possibly be as a result of Bitcoin (BTC) reclaiming the $69,000 stage and inching nearer to $70,000. BTC’s rally is probably going fuelled by Donald Trump’s latest speech on the 2024 Bitcoin convention. Many have speculated that Trump might arrange a Bitcoin Reserve Coverage if he’s elected into workplace. The probabilities of Trump reclaiming the Oval Workplace have additionally elevated after the assassination try on his life.
How excessive can VeChain go in August 2024?
In keeping with the researchers at CoinCodex, VET will expertise a worth dip in the beginning of August, falling to $0.026 on Aug. 5, 2024. The platform anticipates VET’s worth to climb to round $0.029 by mid-August earlier than dipping once more to round $0.027 within the latter half of the month.
In keeping with an X put up by crypto analyst “Crypto Yapper,” VET might surge to $0.05. Hitting $0.05 from present worth ranges would entail a rally of about 78.5%.
Also Read: VET: What Will VeChain’s Value Be Worth in 2026?
In keeping with PrimeXBT, VeChain might hit a most worth of $0.18 in 2024. Reaching $0.18 from present ranges would translate to a rally of almost 543%.
The SEC lately authorised Ethereum ETFs for buying and selling. If we witness a rise in inflows into ETH-based funding autos, we might even see a market-wide rally for different altcoins. In such a situation, VET’s worth may additionally witness a surge. There’s additionally a chance of an rate of interest lower later this 12 months which can push traders into riskier belongings, akin to crypto. This growth might additionally help VET’s worth.
