EGRAG CRYPTO is a top-tier market analyst who used the Cloning Pattern to predict that the VeChain price (VET), which was based on the Triple Bottom Pattern, could reach as much as $1,6.
EGRAG CRYPTO is a term that has a negative connotation. one of the most bullish on VeChain. In his most recent analysis, he emphasized how the cloning method is signaling exciting movements for the coin.
EGRAG CRYPTO stated that he used the Cloning Method to an earlier mega rally of VeChain price. This is marked in the chart below with the blue Arrows.Â
How high can VET soar?
EGRAG CRYPTO, while not definitive in its statement, said VeChain could set sail towards the $1.6 pricing point. He shared a chart that shows VET forming a triple-bottom pattern from December 2018 until 2020. VET overcame these price declines, and rallied to the level of $0.0232 around August 2020.
VeChain’s price fell to $0.008926 by November 2020, after the spike to $0.0232. VET recovered eventually from the retracement and surged to its All-Time High price (ATH) of $0.2782 by April 2021.
VET fell in price during the extended crypto winter, which accompanied 2021 bull phases. The VET price remained stable and a sign of a rally similar to this one was given by its consolidation. Pre-ATH is also a triple bottom pattern.
According to EGRAG CRYPTO, the coin will move towards $0.115 and then dip down to $0.035. This projected movement could lead to a long-term increase in value of $1.6 once the coin recovers from its drop to $0.035.
#VET Triple Bottom: Cloning pattern ($1.6).🚀
This is a cloning of a cycle’s blue-arrow pattern. The price action today suggests the same. #VET It is possible that you are preparing to make some big moves.
The pattern indicates a potential rise to 0.115c, followed by a… pic.twitter.com/ujfjtmjQPn
— EGRAG CRYPTO (@egragcrypto) March 22, 2024
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Backing Fundamentals
A fundamental factor which could support VET’s upward trend is the launch VeBetterDAO, a sustainability platform and two new tokens: B3TR & VOT3. VeChain’s high-performance blockchain is designed with enterprise adoption in mind. Its new products and patents are a part of the innovation.
EGRAG CRYPTO may not be the only analyst who is bullish about VeChain but his prediction has proven to be accurate. remained consistent Over the last few months, VeChain’s price and market cap have both fallen by 2.92%. VeChain’s market cap and price are both down 2.92 percent at the time this article was written, to $2,923,159.894 for each and $0.04022 respectively.
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