VeChain has experienced a significant surge in the past few months, with an increase of 15%. The rise is reflective of a wider crypto market rally. Analysts predict even greater gains for the near future. They range from 50x up to an astounding 140x during this time. next Bull market
The recent retesting of the 382 major golden ratio is a key technical indicator that supports the bullish sentiment around VET. highlighted CryptoBusy, a crypto analyst (@CryptoBusy)
The analyst believes that this retest represents a possible significant increase in price and puts VET into a bullish territory. The analyst predicts that the Fibonacci levels of 0.5 and 0.618% could be the price targets for VET. This translates to $0.06 or $0.08 respectively.
#VeChain bullish move!
Price has been retested against the 382 major golden ratios! 🔥
The price has now moved into the zone of bullishness!
Now, let’s move on to the levels 0.5 and 618.
Keep stacking $VET 💎 pic.twitter.com/bUINYORrd6
— CryptoBusy (@CryptoBusy) February 27, 2024
Historic Performance and Bullish Projection
EGRAG CRYPTO, (@egragcrypto), a prominent crypto analyst used historical data in order to make future predictions about VET. He suggests that VET could be a winner by analyzing past percentage gains. reach as high as $2.3. VET must replicate the impressive growth it achieved in 2019 and 2020 to reach EGRAG CRYPTO’s goal.
Market momentum, technical breakouts and Optimism Fueled
The recent rise in crypto markets, which saw a surge of $600,000,000 last week, further bolsters the bullish view. VeChain has also been performing well, and its trading volume for the last 24 hours is up by 87.84%. VeChain currently sells assets at $0.0492.
Adoption in the Real World
VeChain’s positive sentiment goes beyond the short-term fluctuations in markets. Projects that focus on supply chain solutions using enterprise blockchain have attracted the attention of major players such as Walmart China, Bayer China and even the Chinese Government.
VeChain has a huge potential to grow in the future.
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VeChain is a hot topic in the cryptocurrency community, and the announcement that VeChain CEO Sunny Lu will make soon has the entire crypto-community excited. Although the specifics of the announcement are still unknown, speculation has suggested that it may lead to an increase in price.
VeChain has been showing many positive signs and could be about to experience a huge surge. VeChain could have a great year in 2024, thanks to a number of technical indicators. These include the chance for it to replicate its past performance, momentum on the market, and actual adoption.
VeChain is a promising project. break into a new marketWe could witness the surges in no time.
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Source: timestabloid.com