VeChain (VET) made a slight recovery over the last few days. The asset is up by 11% in the weekly charts and 12% in the 14-day charts. The asset is also up by 74.3% since January 2024. Despite the recovery, VET’s price is down by 1.5% in the daily charts and 26% over the previous month.
Also Read: ADA Surges 25% in a Week: Ethereum Killer Gains Momentum with Whale Backing
Why Is VET Down Today?
VeChain’s (VET) latest dip could be due to investors betting on other assets. The Federal Reserve took a hawkish stance in its latest monetary policy after inflation in the US increased to 2.7%. The Fed announced only two interest rate cuts in 2025 instead of three.
Also Read: Goldman Sachs Predicts 75 Basis Point Fed Rate Cut in 2025 – How It Will Impact Your Investments
The cryptocurrency market may surge over the next few days due to Donald Trump’s inauguration. Many anticipate the cryptocurrency market will thrive under Trump’s leadership.
VET’s correction could also be due to fears around the HMPV outbreak in China. Many may be fearful of another Covid-like situation.
The Asset Is Predicted To Hit $0.098
According to CoinCodex, VET may break into a rally in February 2025. The platform anticipates VET to hit $0.098 on April 6, 2025. Hitting $0.098 from current price levels will translate to a rally of about 92.16%.
According to Changelly, VET will face a price correction in January before gradually increasing. Changelly anticipates VET to trade at a potential maximum price of $0.314 in April 2025. Hitting $0.0314 from current price levels will entail a dip of about 38.443%.
Also Read: Ripple Mid-Jan Price Prediction: Will The Trump Effect Help XRP Hit $3?
VeChain (VET) may continue to rally after Trump assumes office due to his pro-crypto stance. Many anticipate an extended bull run under Trump’s leadership. How the market moved over the next few weeks is yet to be seen.
