Welcome to the crypto site. My name is Victor, and today: VET (VeChain) rate forecast for January 2024. Join the discussion on the topic
VET (VeChain) rate forecast
Monthly timeframe
Hello, my name is Victor. Today, 11 January 2024, I want to share my thoughts and analysis of VeChain (VET) with you. On the monthly timeframe, I see that VET has the potential to grow. The stochastic oscillator indicator shows that there could be an upside, although this month is still in the red zone. I believe that VeChain can follow Bitcoin and return to its highs in 2025.
![VET (VeChain) rate forecast for January 2024](https://alt.kriptovalyuta.com/wp-content/uploads/2024/01/VETUSDT_2024-01-11_08-03-12_43857-1024x499.png)
Weekly timeframe
On the weekly chart, VET is showing signs of consolidation. The stochastic oscillator indicator in the overbought zone may indicate the beginning of a downward phase. I expect the market to consolidate, possibly even to a certain support line, from which the rate has bounced several times.
![VET (VeChain) rate forecast for January 2024](https://alt.kriptovalyuta.com/wp-content/uploads/2024/01/VETUSDT_2024-01-11_08-03-26_445c2-1024x495.png)
Daily timeframe
On the daily chart, the indicators show mixed signals. While the stochastic oscillator indicator shows an upward trend, the other oscillators are in limbo. This may indicate a need for accumulation before growth.
![VET (VeChain) rate forecast for January 2024](https://alt.kriptovalyuta.com/wp-content/uploads/2024/01/VETUSDT_2024-01-11_08-03-52_b90ab-1024x495.png)
Buyer/seller sentiment
There is a division of opinion on the VeChain market. Investors’ ideas are split between long and short positions, indicating market uncertainty. This may indicate the possibility of both an increase and a decrease in the rate.
Summary of the exchange rate forecast for the month
In summary, I believe that VeChain may go through a period of consolidation in the coming months. However, a return to previous highs is possible in 2025, especially if there is a correlation with Bitcoin.