Egrag, an analyst of note, shared his positive outlook for VeChain on Twitter. The tweetThe hashtag #VET – Blue or Green Pump alert! suggests that the price of VET could experience a significant increase in the current cycle.
Egrag’s Crypto analysis is based on VET’s prior all-time low (ATH) at $0.277. He presents two possible scenarios using a multiplier:
Scenario A. A two-fold increase in the ATH position VET to $0.277 x 2. This equals $0.554.
Scenario A: An increase of 3x would result in a price $0.277×3 = $0.831.
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These calculations offer a concise and clear framework to help investors understand potential gains. Egrag Crypto goes further than a multiplier in its analysis. He expressed his belief that VET’s price may surge higher still, reaching Fibonacci level between $1.414-$1.618.
Fibonacci levels of retracement are used by traders as a tool for technical analysis to determine potential zones of support and resistance. The Fibonacci pattern, which is a mathematical pattern that can be found in nature, provides the basis for these levels. Analysts can use Fibonacci to create zones that could be used for a price retracement or temporary pause.
Egrag’s claim that VET may reach Fibonacci level implies a larger price rise than initial multiplier scenarios. VET’s price would increase significantly if it reaches the $1.414-$1.618 range. This would be a record high and represent an important rise from current levels.
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Click Here to Read More Analyst Says VeChain (VET) Is Primed For an 8,424% Rally to $1.6 As Institutional Adoption Rises
Important to know about cryptocurrency price predictions Inherently, they are uncertain. Many factors influence the market, such as global economic conditions and regulatory changes. project-specific developments.
Investors should do their own research, and take into account their tolerance for risk before investing.
Egrag concludes the tweet with the following: “#VET will unlock ur financial chains.” This tagline has a positive tone, suggesting VET could be a good investment. financial gains. Cryptocurrency investments can be volatile. There is a risk of capital loss.
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Source: timestabloid.com