VeChain, a blockchain platform that aims to connect the distributed ledger technology of blockchain with real-world supply chains, has been undergoing an extensive retest. according The crypto analyst EGRAG CRYPTO is on Twitter (@egragcrypto).
EGRAG CRYPTO reveals a possible breakout for VET. This suggests that the altcoin may go on to a “Galactic Thrust” A retest is necessary after an important threshold has been reached. VET’s price is $0.03925. He believes VET could be headed to a retest between $0.03451-$0.03449.
#VET Galactic thrust: the White Retest
Do you know what I’m seeing? #VET The macro-range is undergoing an important retest. The next Impulse could propel you to the heights of space! 🌌#VET Unlocking ur financial chains. pic.twitter.com/VCqlhQq8qu
— EGRAG CRYPTO (@egragcrypto) April 27, 2024
Click Here to Read More Citing VeChain Historical Pattern, Analyst Predicts 1680% VET Price Rally. Here’s when
Macro Range Retest – What is it?
Macro ranges are price channels within which an investment has traded for a long time. Retests of the ranges can be viewed in technical analysis as important events. They may indicate that a breakout or a breakdown is imminent, depending on whether or not the price has broken through resistance.
EGRAG CRYPTO’s analysis suggests that VET is attempting to revisit its upper part of the macro range. The retest could be successful, and VET may surpass this level of resistance. This would indicate a bullish market and lead to potential price increases. In the event that VET is unable to surpass this barrier and falls within the range of prices, then it may indicate the continuation of previous trend.
Prices to Expect
VET’s price will soar to $0.2828 on a retest, surpassing the all-time record of $0.2782 set in April 2021. This incredible surge is a 620.5% rise for the digital currency. EGRAG CRYPTO, however, believes that a correction in price will occur, sending VeChain to just $0.1472.
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Click Here to Read More Projected Timeline For VeChain (VET) To Surpass $10
It’s not over yet. Analysts recently forecast that VeChain will soon climb to $0.6EGRAG CRYPTO, however, has higher goals for this digital asset. VeChain will reach the Fib if the second rally occurs, he believes. The 1.618-level of $1.8635 represents an astounding 4,647.7% rise.
EGRAG CRYPTO’s analysis shows a bullish potential for VET. However, investors must also take into account other factors, including adverse market conditions, unfavorable regulatory policies, and other possible influences on the price.
A successful retesting of the macro-range is an indicator that a rally will be bullish. In early April, a VeChain Insider said that the price of bitcoin was likely to rise. massive price rally is coming in JuneThis could mark the beginning of EGRAG CRYPTO’s anticipated surge.
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Source: timestabloid.com