Vechain has a bullish upside potential, which could lead to a breakout rally that could reclaim the $0.10 threshold.
Altcoins have followed the trend of Bitcoin’s crossing the $100,000 mark. Vechain After its jump of 3.43% last night, it shows that the stock has significant potential.
As the fundamentals turn bullish, buyers are aiming for the next psychological landmark. Can the anticipation of an upswing drive VET price to $0.10?
Vechain Price Analysis
On the VET daily chart you can see a phase of pullback in progress. This pullback follows the huge surge in November 2024 and December’s early days. It led to an increase of more than 323 percent in price, rising from $0.01890 at the beginning of December 2024 to a high point near $0.080.
The Vechain price has fallen below the psychological $0.050 level due to bullish exhaustion. VET prices found support around the psychological level of $0.040.
Buyers gained confidence after the price stabilised at this level of support, setting up a possible recovery. VET’s price has increased to $0.05201 after a reverse of the double bottom.
VET, by reclaiming its 50-day EMA and 20-day EMA line, is challenging resistance of $0.05425. This positive alignment between the critical EMAs reinforces the bullish view.
Moreover, the recent recovery, with a gain exceeding 20% last week, has pushed RSI over the half-way mark. Vechain is therefore expected to continue on a path of positive growth based on the technical indicators.
VET Price targets
Fibonacci Fibonacci levels that are based on trend show the neckline being very near the Fibonacci level of 23.60% at $0.05660. If the bullish levels are broken, the next rally may be initiated by a close that is above them.
If the Fibonacci level is broken above, the 100% Fibonacci level will be at $0.10329. Support levels are at $0.040 and the 200-day EMA remains at $0.03563.
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Source: thecryptobasic.com
