Popular crypto analyst AJ asserts that VeChain (VET) is a top pick in 2024, projecting that the asset’s price could surge to $1.14 by October.
Several crypto analysts have been highly bullish on VeChain (VET) in recent weeks, as they project that the coin would rank among the top performing cryptos in 2024.
VET Could Surge to $1.14 By October 2024
One of the analysts who share this sentiment is prominent expert and trader AJ. In a recent X post, AJ pointed out that VET flashed a crucial bullish signal on December 30, 2023.
According to AJ, VET recently made a GOLDEN CROSS on the 2-Day chart for the first time since June 19, 2020. AJ noted that following the emergence of a GOLDEN CROSS on the VET 2-Day chart in June 2020, the crypto asset surged by a whopping 3,062% over the next 300 days.
Interestingly, AJ speculated that if the same pattern repeats itself, VET price could spike to $1.14 by October 25, 2024.
WHY #VECHAIN IS A TOP PICK FOR 2024…
This is the first GOLDEN CROSS on the 2-Day chart since June 19th, 2020!??
Last time this happened, #VET pumped 3062% over the next 300 days.?
Hypothetically, if history repeats itself, VET would be $1.14 on Oct 25th, 2024!??#VeFam pic.twitter.com/QuV1GDvEvz
— Aj (@Ajwritescrypto) December 30, 2023
While AJ’s prediction looks enticing, it is imperative to note that past performance does not often guarantee future returns, given the massive volatility of the crypto market.
However, market experts consider the appearance of a golden cross on any asset’s charts to be a bullish signal.
VET’s Crucial Support Level
In the meantime, VET was down 6.6% over the past 24 hours to $0.029. The crypto asset is down 89.70% from its all-time high of $0.28, which was recorded on April 19, 2021.
Yesterday, VET lost a crucial support level at $0.03. Reacting, popular crypto analyst Teshkid speculated that the asset could plunge further to around $0.024, which is the next major support.
However, he projected that if VET breaks through the $0.03 support, it could rally to $0.035.
#VET has reclaimed support at $0.03 after a massive crash to $0.029. As long as $0.03 continues to hold watch for a rally to $0.035 which is resistance. A reclaim of $0.035 then $0.038 and $0.04 will be my next targets.
In case of a breakdown move watch for support at $0.03 and… pic.twitter.com/qxdi7RCL72— teshkid is Crypto (@MtukufuMtukutu) January 4, 2024
Other Favorable VET Predictions
Meanwhile, several crypto analysts have issued favorable predictions for VET in recent times. As reported earlier, popular YouTuber Ben Armstrong forecasted that VET has the potential to become a top 10 to 20 mover among the 100 crypto assets.
However, he recommended that VET should not exceed more than 10% of an investor’s portfolio. Last month, renowned market analyst EGRAG speculated that $1.6 is a feasible price for VET.