VET (VeChain) rate forecast for January 2024

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.

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.

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.

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.