You are here: Home / News / VeChain (VET) Breaks Resistance, Analyst Eyes 2x Price Rally
VeChain has been in breathtaking performance, gaining enormously in value. This surge comes in as the cryptocurrency market enters a bullish phase, boosting various altcoins to recover from their recent declines. VET was able to pass through crucial resistance levels that set the stage for a substantial upward climb.
Furthermore, the Ethereum ETFs’ launch on July 23 and the current surge of Bitcoin are kind of fueling market mania, which means a positive wave is injected into altcoins like VET. Analysts have huge optimism about VET’s future price path since there is nothing to doubt it keeps going higher.
At the time of writing, VeChain is trading at $0.031525, with a volume across the last 24 hours of $134.75 million. It has $2.29 billion in market capitalization and a dominance of 0.10% over the market in general. VET price has surged up 0.95% in the last 24 hours.
VeChain (VET) has been pretty resilient over the past months, surviving the downturn of markets and trying to show its potential for growth. As the broader cryptocurrency market shifts into a bullish phase, VET has emerged as one of the star performers.
Analyst Predicts 2x Rally for VeChain (VET)
Renowned crypto analyst, World Of Charts, has shared an optimistic outlook for VeChain (VET), suggesting a bright future for its price trajectory. In a recent analysis, the expert highlighted VET’s impressive performance, noting that it is currently running at a 28% profit. This momentum is expected to continue, with the analyst predicting another significant bullish rally in the coming days.
“VeChain is moving as expected,” the analyst stated. “It recently broke through another key resistance level, and we are anticipating a potential 2x rally soon.” The positive sentiment around VeChain is echoed by other crypto experts, who have analyzed VET’s price movements for 2024.
According to their estimates, the average trading price for VET in July 2024 lies around $0.0370. The lowest and highest predicted prices for VET in this period are $0.0316 and $0.0370, respectively.
Much of the growing optimism in VeChain is based on its recent performance and breakthroughs above key resistance levels. Now, as the market evolves, all eyes look to VET for that sustainable upward trajectory and confirmations it can deliver on these bullish expectations.
Related Reading | Filecoin Set for Massive 44X Surge: Analyst Predicts Major Rally to $190
