a 25% Increase or a New ATH for VET?

TL;DR

• VeChain’s cryptocurrency, VET, saw a 13% increase in the past week, currently priced around $0.04, with predictions of further gains. Analyst Clifton Fx anticipates a 25% rise to $0.06 soon, based on technical patterns.
• Other industry participants were even more bullish, with one forecasting a substantial 2,400% surge to $1.

The native cryptocurrency of the blockchain platform VeChain – VET – garnered some attention in the past week, with its price rising by 13%. It currently hovers at around $0.04 (per CoinGecko’s data): a level that some analysts believe will soon be followed by another upswing.

One person who outlined an optimistic forecast was the X user Clifton Fx. The analyst claimed that VET’s “bullish flag” in the daily timeframe indicates a 25% rally toward $0.06 in the following days. 

World of Charts chipped in, too, arguing that the asset has surpassed several resistance zones, such as the “multi-year descending trendline and horizontal resistance accumulation area.” In their view, VET could hit approximately $0.22 this summer. 

$Vet

Recently #Vet Breaks Multiple Resistances Multi-year Descending Trendline+ Horizontal Resistance Accumulation Area & Retested Perfectly Also Now Breaking Bullish Flag Too Still Expecting 400% Profit In Coming Weeks In #VeChai https://t.co/NamieY9HrX pic.twitter.com/UhbFjRRCyT

— World Of Charts (@WorldOfCharts1) April 11, 2024

The most bullish forecast was presented by the crypto trader using the X handle Flash, who envisioned a whopping 2,400% price increase toward the $1 milestone.