VeChain (VET) price prediction for October 2024

VeChain is trading around the $0.025 price level on the charts on Monday. The performance of VET in the third quarter of 2024 remains decent as it increased by almost 13 in the last 30 days. The altcoin is largely trading sideways this week, with little to no price breakouts across the indices.

It is finding it difficult to reach the $0.01 mark as market conditions push its price downwards. Will VeChain turn the tide after September ends and rise on the charts in October 2024? This article presents a price forecast for VET for the next 30 days.

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VeChain: VET price prediction in October 2024

Leading on-chain metrics and price predictions

Leading on-chain metrics and price prediction firm CoinCodex has painted a bearish picture for VeChain in October 2024. According to the forecast, vocational training could remain in the same price range but could briefly collapse in the charts.

Expected price drop

The estimate suggests that the supply chain-based cryptocurrency could decline by almost 1.5% by the end of October. According to the forecast, the price could move around the $0.0254 mark by the end of the month.

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Impact on investment

Therefore, a $1,000 investment could turn into $984 in the next 30 days if you find an entry-level position in VeChain today. “According to our VeChain forecast, the price of VET will decrease by 1.55% next month and reach $0.025445 by October 30, 2024.” The on-chain metrics company predicted.

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In summary, it can be said that vocational training should be avoided because all indicators point to a pessimistic thesis. The altcoin has a greater chance of incurring losses than making a profit in October. Broader markets typically slow in the fourth quarter and pick up pace by year-end in December. It is best to avoid entering VeChain in the fourth quarter of 2024.