- VeChain surged 30%, validating bullish predictions and clearing key resistance levels.
- Analysts’ forecasts come true as VeChain hits $0.027, showing strong upward momentum.
- VeChain’s price rise aligns with bullish predictions, reaching key technical levels.
VeChain (VET) has risen by 30% in the past seven days and many analysts believe this is just the beginning of a significant price surge. Amid a bearish market, VET has shown remarkable resilience signaling high potential for more growth.
As we can see from the post above, World of Charts1 highlighted that VeChain had already cleared its first resistance at $0.019. The next key resistance level was identified at $0.027.
According to this analysis, a real bullish wave would commence after a descending channel breakout on the weekly chart. This prediction has materialized as VeChain reached the $0.027 resistance level, indicating a strong upward momentum.
Additionally, another VET enthusiast provided an even more optimistic outlook by suggesting that there is no limit for VeChain. This analyst predicted that VeChain could reach $1 sooner than expected.
$VET will pump like this
— Crypto EA (@Crypto_Erdemm) July 11, 2024
There is No Limit for #VeChain.
$1 is coming sooner then you think.
Keep an eye out for a space announcing everything soonpic.twitter.com/2ZUH0KWmm9
While this target is ambitious, the recent price action supports the notion that VeChain is on a strong upward trajectory. The community is eagerly awaiting further announcements that could drive the price even higher.
Adding on, another renowned crypto analyst, has emphasized the technical and psychological importance of $0.02. Additionally, he believes that the presence of hidden bullish divergence on the weekly time frame suggests that the upward trend may continue.
The recent price movement of VeChain aligns well with these forecasts. The clearing of resistance levels and the bounce from key psychological points have all contributed to the bullish sentiment.
The technical indicators, such as the hidden bullish divergence, further support the positive outlook. Looking ahead, the crypto community is optimistic about VeChain’s potential.
VeChain’s recent price surge has validated the predictions made by various analysts. The clearing of resistance levels, the bounce from key points, and the presence of bullish indicators all point to a strong upward trend.
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