Comparing Vechain against Ethereum and Bitcoin: Will VeChain (VET) rise in value?

Vechain in terms of per year return already outperform Bitcoin by a big margin, in the year 2021 Vechain gave 193% return, whereas Ethereum gave 203% return in 2021, while Bitcoin only gave 26% return in 2021. 

Hello guys, and welcome back to the Comprehensive Mind. And in today's post, I'll be comparing Vechain against Ethereum and Bitcoin. And at the end of the post, we are gonna take a look at the VET USDT pair to confirm our analysis of VET-ETH and VET-BTC pairs.  

VET-ETH pair

Comparing Vechain against Ethereum and Bitcoin

Now let's first look at the VET-ETH pair. This is a one-week chart, which shows the VET-ETH pair is forming a broadening wedge pattern. The purple line at the bottom is a support line. While the upper trend line is acting as a resistance trend line. 

The red circle marks all-time high VET-ETH pair made. One thing that is common from this chart is that the next all-time high came after months of consolidation. 

VET-ETH pair

Now let's look at the chart in more detail. The green circle indicates a change of downtrend to an upward trend. After consolidating at the same level for weeks, VET prices changed its direction and created a new all-time high. So the key point to note here is that VET is still months away from creating a new all-time high. But the VET-ETH pair must not fall below the trend line. 

VET-ETH pair chart

This chart shows the dates when the VET-ETH pair created a new all-time high, and as you can see in this chart right after creating a new all-time high the VET-ETH always touched the bottom trend line. And VET always creates a new all-time high in April or every year, so if we go by this data then the next all-time high will be created in the month of April or May of this year. 

VET-ETH pair chart 2

This chart shows the price target of the VET-ETH pair, so if VET continues to move along this chart then it will create a new all-time high in April or May of this year, and at that VET-ETH pair will be trading around 0.00014330 ETH. 

But remember don't make any buy or sell decision just by looking at the VET-ETH chart because the VET-ETH chart might prove beneficial for technical analysis but it won't be much effective because not many people trade in VET-ETH. 

Around 80% of the traders trade in USD pairs while the rest of the traders trade in BTC or in other pairs. So the VET-ETH chart is only useful for validating the VET-USDT pair technical analysis. 

VET-BTC pair

VET-BTC pair

Now before moving towards the analysis of VET-USDT let's first look at the VET-BTC pair. While the VET-ETH pair helped us determine the next all-time high of VET, the VET-BTC pair will help us in analyzing how VET will perform before creating a new all-time high. In the VET-BTC chart, VET is making lower highs and lower lows which indicates that VET is still in a downward trend. 

VET-BTC pair chart

So to get out of this downtrend VET must break the above trend line with high volume support, and then if VET price confirms support above this trend line then it will be confirmed that VET is out of the downtrend. 

But VET prices must have a high volume with it, because if VET prices are increasing and there is not much buying pressure then it will be a false breakout. I think now you can understand why I first analyzed VET-ETH and VET-BTC pairs. Because the VET-ETH pair helped us in analyzing the all-time highs of VET and VET-BTC helped us in determining the trend of VET prices. 

And one more thing is also clear that VET is really at the bottom and VET prices are preparing to enter a new strong uptrend. So if any of you are planning to buy VET in this new year then this is the right time to buy VET and hold. And if you need a good exchange to buy VET then you should buy it from an exchange that is trusted by millions of customers. 

Personally, I use Bybit and Binance. Because they're secure and offer good quality customer support and low fees when buying and selling cryptos, so if you are interested in buying a vet, then I'll highly recommend you to check out these exchanges. These are not my affiliate link. Nor I was sponsored by any of these exchanges.



Now let's look at the VET-USDT to confirm our analysis of VET. This is a one-week chart of VET, which shows that VET is forming a symmetrical triangle pattern. So according to my analysis VET will continue to move in this triangle for several weeks, and after weeks of consolidation VET prices will finally give breakout, but the only thing to note here is that VET must not fall below this symmetrical triangle. 

VET-USDT chart

This chart shows the quarterly high and quarterly low of VET prices. On 22 FEBRUARY 2021 VET was at the bottom, and after one and half months on 12 APRIL VET created a new all-time high of 27 cents, which is still not broken yet. And after touching 27 cents, VET dropped below 7 cents on 19 JULY 2021. 

Then after three months on 8th NOVEMBER VET reached above 15 cents after seven months of consolidation. And then again we saw a sharp drop in VET prices and 20th DECEMBER was the bottom for the VET prices. 

VET Price Prediction

VET Price Prediction

So according to my analysis VET will continue to move between 8 cents and 12 cents till February and in March there's a strong possibility that VET will touch 15 cents. If we compare this analysis to the one-day chart of VET, then this analysis still holds true. 

So the next price target of VET prices is 15 cents and VET will reach 15 cents in February or March of this year and if VET continues the uptrend then finally in APRIL or MAY of this year we will see VET prices creating a new all-time high. 

That’s all for today’s article, let me know in the comment section, what do you think will VET reach 15 cents or not? 

Disclaimer: But remember this post is not financial advice, nor I’m a financial advisor, this post is for research purposes only any profit or loss you make will be yours and no one will be responsible for your profit or loss, so always keep this in mind whenever you are planning to invest and only invest in good projects. 

pics credit: Trading View

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