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HomeCrypto NewsMarketCan VeChain Tap $1 Following Recent Partnership?

Can VeChain Tap $1 Following Recent Partnership?


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The VeChain Foundation recently inked a significant partnership with Boston Consulting Group.

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VeChain (VET) has been caught up in the prevailing bearish storm despite several notable developments from the VeChain Foundation, the non-profit in charge of the VeChain network. However, the latest moves have sparked speculations of a breakout.

With a current value of $0.02457, VET has gained 55% since the start of the year. The asset rallied to a six-month high of $0.03255 last month as it leveraged the market-wide uptrend. Nonetheless, its campaign was short-lived, as the bears took control of the scene shortly after.

The asset has since seen intermittent declines, resulting in a low of $0.02356 today. Notwithstanding these declines, Crypto Koolaid, an anonymous analyst, cited a bullish pattern recently formed by VET. He highlighted that this pattern was observed in April 2019 and preceded a 192% surge in the asset’s value a few months later.


Another analyst called attention to a bullish divergence observed on the 1-hour VET chart and a prevailing falling wedge pattern. These two patterns are crucial in identifying a potential price reversal to the uptrend.

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A falling wedge is formed when the price of an asset is in a downtrend, and the price action is contained within two converging trendlines that slope downward. A bullish divergence occurs when the asset’s value makes a new low, but its indicator makes a higher low. This suggests that while the VET still makes lows, the downward momentum weakens, indicating a potential reversal.

Vechain (VET) To $1

Meanwhile, the asset is down 13.86% in the past week, currently trading for $0.02457. Analysts from Changelly forecast a maximum price height of $0.48 for VET by 2030, asserting that the asset’s goal to claim the $1 price could be achieved in 2032.

VET to 1
Can VET reach 1
Image Source httpschangellycomblogvechain vet price prediction

VeChain’s Growth-oriented Strategies

These analyses come on the heels of the latest bullish development surrounding the VeChain Foundation. The Foundation yesterday announced a strategic partnership with the esteemed Boston Consulting Group (BCG) to bolster its sustainability strategy and communication plan.

The Foundation has also made available a Whitepaper outlining its roadmap for extending to Q1 2024.

It is worth noting that last month, VeChain introduced VeWorld, its very own decentralized self-custody wallet, as part of its drive to attract crypto enthusiasts to its diverse portfolio of crypto-focused products.

On Feb 15th, Vechain also opened its new headquarters in Europe. All these developments suggest positive building that can eventually lead Vechain to $1.

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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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