VeChain (VET) Primed for “Galactic Thrust”: Analyst Predicts 620% Surge After Retest

Francis K
VeChain (VET)

Getting your Trinity Audio player ready...

VeChain (VET), a blockchain platform aiming to bridge the gap between blockchain technology and real-world supply chains, is undergoing a critical retest, according to crypto analyst EGRAG CRYPTO. This analysis suggests a potential “Galactic Thrust” for VET, hinting at a significant price increase after a successful retest.

Currently priced at $0.03552, VET is poised to revisit the upper part of its macro range, a key price channel it has traded within for an extended period.

Track all markets on TradingView

EGRAG CRYPTO believes a successful retest could propel VET above this resistance level, signifying a bullish market and potentially leading to substantial price gains.

However, if VET fails to surpass this barrier and falls back within the macro range, it might indicate a continuation of the previous trend.

Potential Price Targets:

  • Retest Success: EGRAG CRYPTO predicts a surge to $0.2828, surpassing VET’s all-time high of $0.2782 set in April 2021. This represents a remarkable 620.5% increase.
  • Correction and Second Rally: A price correction to $0.1472 is anticipated, followed by a potential climb to $0.60.

Beyond the Initial Surge:

EGRAG CRYPTO envisions even greater heights for VET, suggesting a possible rally to the Fibonacci level of $1.8635, a staggering 4,647.7% increase from the current price

While EGRAG CRYPTO’s analysis paints a bullish picture, investors must acknowledge external factors that could influence VET’s price, such as market volatility, regulatory changes, and other unforeseen events.

A Bullish Signal:

A successful retest of the macro range is generally viewed as a bullish indicator, potentially marking the beginning of a significant price rally. This aligns with the recent statement by a VeChain Insider in early April, suggesting a potential “massive price rally” coming in June.

Also Read: VeChain (VET) Surges in April: Record Adoption, Innovation & Real-World Applications Drive Growth (Sustainability, UFC, MotoGP, DeFi)

EGRAG CRYPTO’s analysis presents an intriguing possibility for VET’s future, but it’s crucial to remember that the cryptocurrency market remains inherently unpredictable.

Related Posts