United for Profits
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
No Result
View All Result
United for Profits
No Result
View All Result
Home Cryptocurrency

Don’t Miss The VeChain Train — Analyst Projects 400% Price Increase

by
April 12, 2024
in Cryptocurrency
0
Don’t Miss The VeChain Train — Analyst Projects 400% Price Increase

VeChain (VET), a blockchain platform aiming to revolutionize supply chain management, has become a hot topic in the cryptocurrency world. A recent surge in VET’s price, coupled with technical breakthroughs, has ignited a wave of optimism among investors and analysts.

VeChain Shatters Resistance Levels, Bullish Flag Signals New Highs

The good news for VeChain started with a decisive break above a multi-year downtrend line. This technical indicator, closely watched by analysts, suggests a potential shift in long-term market sentiment. Additionally, VET decisively surpassed a key horizontal resistance level, adding fuel to the bullish fire.

At the time of writing, VET was trading at $0.04, down 3.1% in the last 24 hour, but managed to sustain a 17% gain the last week, data from Coingecko shows.

Following this breakout, VeChain entered a consolidation phase, a period of sideways trading often seen after a significant price increase. However, this pause proved to be temporary. VET recently emerged from a bullish flag formation, a technical pattern known for preceding substantial price increases. Analysts are interpreting this breakout as a sign that VeChain is poised for another leg up.

400% Surge Anticipated: Will VeChain Live Up To The Hype?

Capitalizing on the bullish sentiment, crypto analysts have made some bold predictions. World of Charts, a prominent analyst group, is forecasting a staggering 400% increase in VET’s value in the coming weeks.

$Vet

Recently #Vet Breaks Multiple Resistances Multi-year Descending Trendline+ Horizontal Resistance Accumulation Area & Retested Perfectly Also Now Breaking Bullish Flag Too Still Expecting 400% Profit In Coming Weeks In #VeChai https://t.co/NamieY9HrX pic.twitter.com/UhbFjRRCyT

— World Of Charts (@WorldOfCharts1) April 11, 2024

X user Clifton Fx also provided a positive outlook. A 25% surge to $0.06 is in the cards in the next days, the expert said, pointing to VET’s “bullish flag” on the daily period.

$VET (Update)

Bullish Flag Formation in Daily Timeframe…

In Case of Upside Breakout Expecting Bullish Wave#VETUSDT #VET #Crypto pic.twitter.com/ZH9YqUNfjf

— Clifton Fx (@clifton_ideas) April 11, 2024

However, the cryptocurrency market is notorious for its volatility, and unforeseen events can trigger rapid price swings. While the technical indicators and analyst forecasts paint a rosy picture for VeChain, there’s no guarantee that the predicted surge will materialize.

Beyond The Hype: VeChain’s Real-World Potential

VeChain’s appeal goes beyond the recent technical triumphs and the allure of potential windfalls. Unlike many cryptocurrencies focused solely on speculation, VeChain offers a tangible solution to real-world problems. Its blockchain platform tackles inefficiencies and lack of transparency in supply chains, a multi-trillion dollar industry ripe for disruption.

VeChain’s technology allows businesses to track products throughout the entire supply chain process, ensuring authenticity, quality, and efficient logistics. This not only benefits businesses but also empowers consumers with greater transparency about the products they purchase.

VeChain’s recent surge and optimistic forecasts present an attractive opportunity for investors. However, the inherent volatility of the cryptocurrency market cannot be overstated.

Featured image from Binance Academy, chart from TradingView

Previous Post

USDCHF and USDJPY: USDJPY at new multi-year high of 153,30

Next Post

The dollar index approached the level of 106.00 on Friday

Next Post
The dollar index approached the level of 106.00 on Friday

The dollar index approached the level of 106.00 on Friday

Exchange Rate

Exchange Rate USD: Thu, 10 Jul.

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Copyright © 2025 unitedforprofits.com All Rights Reserved.

    No Result
    View All Result
    • Personal Finance
    • Cryptocurrency
    • Strategy
    • Business
    • Retirement

    Copyright © 2025 unitedforprofits.com All Rights Reserved.