VeChain (VET) has experienced a modest rebound, with a 0.22% increase in the past 24 hours and a 4% rise in the past 30 days. While its trading volume has declined, analysts believe VET is on the brink of a significant price surge, similar to its previous cycle.
Technical Analysis Indicates Potential for 4,324% Increase
Analyst EGRAG CRYPTO conducted a technical analysis of VET, revealing a potential price target ranging from Fib 1.236 to 1.618. This suggests a possible surge of 4,324%, propelling VET’s price to $1. The analyst’s chart highlights a “consolidation point” or “Ignition Stage” where VET consistently rebounds before significant price increases.
Historical Pattern and Future Predictions
A renowned trader, Alan Santana, observed a similar pattern in the VET/BTC pair in 2019, marking the end of a bearish wave and the beginning of a bullish cycle. He noted that the previous cycle consisted of three increasingly stronger waves, lasting 595 days and resulting in a 1,291% move from the bottom.
Santana believes that the current cycle, beginning with the September 16, 2024 low, could be even more bullish. He predicts a record-breaking bull market in 2025, potentially creating numerous millionaires.
Based on technical analysis and historical patterns, VeChain (VET) appears poised for a significant price surge. Analysts predict a potential increase of 4,324%, reaching $1. Investors should closely monitor VET’s price action and market conditions to capitalize on this potential opportunity.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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