VeChain Weekend Price Prediction: Can VET Reach $0.025?

VeChain (VET) follows the general trend of the crypto market and has faced a significant correction in the last few days. The asset is down 1% on the daily chart, 15.8% on the weekly chart and 3.6% on the 14-day chart. Vocational education saw some growth in the monthly and annual charts, increasing by 8.5% and 34.6%, respectively. In this price prediction article, let’s discuss how high VET could rise next weekend.

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Why is the price of the asset falling?

VeChain (VET) follows the development of Bitcoin (BTC). The original cryptocurrency briefly fell below $60,000 but has since reclaimed the $61,000 mark.

BTC’s decline is likely due to fears arising from geopolitical tensions in the Middle East. The Iranian attack on Israel may have spooked investors and caused them to divert funds from risky assets such as cryptocurrencies.

VeChain weekend price prediction

According to analysts at CoinCodex, VET will continue to trade around $0.022 heading into the coming weekend. The platform expects VET to reach $0.022231 on Sunday, October 6, 2024. CoinCodex predicts that the price of VET will continue to decline and fall to around $0.020 on October 10, 2024. A decline from the current price level to $0.020 would represent a correction of around 9%.

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Binance analysts predict a slight recovery in VET in the next few days. The platform predicts that VET will reach $0.022468 on Saturday, October 5, 2024.

When will VET reach $0.025?

Binance and CoinCodex do not expect VeChain (VET) to reach $0.025 any time soon. However, since October is usually a bull month for the crypto industry, the cryptocurrency market could see a boost in the next few days.

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If the conflict in the Middle East ends, we could see bullish market developments. The Federal Reserve could also cut interest rates by another 25 basis points in November, causing prices to rise.