VeChain’s crypto price has shown remarkable growth recently, surging from $0.02 to a yearly high of $0.079. However, after touching this peak, the VET coin price retraced by over 12% in the past week, slipping to $0.06.
Despite this pullback, VeChain crypto price has regained momentum and could soon test the $0.08 resistance again. Market experts predict that VeChain’s price may hit the $0.1 milestone by January 2025, potentially reaching $0.2 in Q2 2025 before targeting a new all-time high.
The recent surge in the price of VeChain is supported by increased social attention. According to Santiment, VeChain’s Social Dominance rose to 0.239%, up from 0.211% the previous day. This growing interest in VeChain’s crypto price is a bullish indicator, as heightened discussions often attract more traders and push trends higher.
Additionally, VeChain’s Long/Short Ratio highlights a bullish sentiment. With 55.16% of traders taking long positions and 44.84% shorting, the VET coin price market is slightly skewed towards buyers. However, this balance suggests traders should proceed cautiously, as markets remain susceptible to swings.
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Data from Coinglass reveals that VET’s OI-Weighted Funding Rate is neutral at 0.0098%, indicating that the current uptrend in VeChain’s price is driven by organic trading activity rather than speculative leverage. This supports the sustainability of recent gains, reducing the chances of steep corrections.
With VeChain’s price now stabilizing at $0.06, the altcoin’s outlook remains positive. As VET coin consolidates, the crypto community is optimistic about VeChain’s price today and its potential to achieve new highs in 2025.