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- Analysts predict VET could surge 3,000%, targeting $0.63 and beyond, fueled by strong fundamentals.
- VeChain’s breakout from a descending channel and sustained rebounds align with bullish market cycles.
This December, VeChain (VET) emerges as a top performer, climbing nearly 40% in just the first three days of the month. After the VET price outlook revealed in a recent CNF update, it was suggested that $0.037 could be the key to a VeChain recovery.
In this article, we explore how a 3,000% surge could push VET to double its previous all-time high of $0.2798. Factors such as VeChain’s inclusion in Coinbase’s COIN50 Index and its expanding partnerships in supply chain solutions further bolster the case for long-term growth, positioning VET as a standout asset in the crypto market.
Expert predictions, including John Morgan’s recent confirmation via his tweet, anticipate VeChain claiming a new all-time high of $0.63.
Expert Predicts VeChain to Claim a New ATH of $0.63https://t.co/SBk6fLL4yW
— John Morgan (@johnmorganFL) December 3, 2024
Additionally, EGRAG outlines Fibonacci price targets, identifying milestones like $0.11147 and $0.27651, with ambitious extensions at $0.63 and $1.58.
Bullish Patterns Signal Growth
Analysts foresee continued gains, with market watcher EGRAG predicting a potential 3,000% rise over the next 100 days based on historical price patterns.
Previously, EGRAG’s analysis highlighted VeChain’s bullish momentum, supported by a breakout from a long-term descending channel in 2023. After peaking at $0.055 in February, VET endured a 65% decline but has since rebounded strongly, reaching a two-year high of $0.072 this month.
This recovery aligns with previous market cycles, pointing to a sustained bullish trajectory. According to CoinMarketCap data, VeChain (VET) is currently trading at $0.06969, reflecting a 3.14% increase in the past day and an impressive 67.27% gain over the past week.