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HomeCrypto NewsAnalysisVechain Price Prediction: VET Looking For A Major Bullish Breakout

Vechain Price Prediction: VET Looking For A Major Bullish Breakout

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Vechain price is consolidating in the range of $0.082 to $0.089 since 1st, July. Which is a bullish sign as strong consolidation could lead to big upward price movements, but Vechain might retest the demand zone of $0.0782 before reaching $0.10.

Read: Vechain Real World Transactions


If VET bounces off from the current price range of $0.080-$0.085, investors can expect an 12% rise to the $ 0.0924 resistance level. Overcoming this area could cause VeChain to hit the $ 0.10 barrier, further up 18%.

Read: San Marino Approves Vechain Powered National Digital Vaccination Passports And Why It Matters?

In a very bullish case, the bulls could try to push the VET towards or around the 50% Fibonacci retracement level at $ 0.105, which represents a 35% rally from the $0.0782 support.

vechian price analysis 7-7-21

The price of the Vechain is currently hovering above the support at $0.083 and may fall slightly if there is selling pressure. Thus, investors can expect a correction to $0.083 or a demand zone extending from $0.0721 to $0.0739.

ReadA Comprehensive Long List Of Vechain Food Safety Use Cases

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Since Bitcoin is showing a bullish bias, altcoins are likely to follow suit. If BTC goes to $40,000, VeChain’s price could easily slide through $0.10 and touch the $0.115.

Red: Suzhou City Launched “Changan Code” Based On Vechain Toolchain Covering More Than 300,000 Local Residents



While things look good for VeChain price, a breakdown of the $0.0829 level will lead to a drop into the demand zone, which stretches from $0.0721 to $0.0739. This move will not have a negative impact on the optimistic outlook. However, a decisive 4-hour candle close below $ 0.0709 would invalidate the bullish thesis, and VET price can fall to $0.0667.

Read: VeChain Blockchain Milestones In Epidemic Prevention

 

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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