The post VET Price Rallies 70% This Month; Will It Reach The 10 Cents Mark? appeared first on Coinpedia Fintech News
Amidst the broader market recovery, the altcoins are giving outstanding performances with almost triple-digit returns in this rally. In the top-performer roster, the VET price finds its place with a 26% overnight jump.
With the ongoing bull run and the recovery health of VeChain, the native token is expected to rise in value in the coming weeks. And with this recovery, the investors beg the question, “Will VET Price Reach $0.10?”
Checkout our VET price prediction for a detailed analysis of the Vechain price trend in the coming years.
VET Price 26% Boost Teases $0.050 Breakout
With six consecutive bullish engulfing candles, the VET price trend displays a huge spike in the daily chart. The 544% jump in the intraday trading volume and the prevailing uptrend continuation teases a longer ride for bulls.
Source – TradingView
Further, the bullish reversal brings a rounding bottom breakout with a neckline at $0.040, bolstering the uptrend. As the rising demand helps the VeChain token price reach $0.050 for a moment, the sideline traders expect a breakout.
Currently, the VET price trades at $0.048 and an intraday growth of 7.09%, fueling the bullish continuation from last night’s jump. Amidst such improving sentiments and the trend reversal sirens going off, the possibility of Vechain reaching the 10 cents mark is improving dramatically.
Technical Indicators:
Bollinger Bands: With a strong upward trajectory, VeChain’s uptrend surpasses the upper Bollinger band. Thus, the price trend indicates a vigorous rally.
Will The VeChain Continue The Bull Run?
The remarkable bull run of 90% in the last 24 days represents a strong rise in demand for VeChain. Further, the ongoing recovery is heading for the psychological mark of $0.050 and looking for a monumental breakout after May 2022.
Upon the $0.050 breakout, the VET price could reach the $0.062 mark per fib level.