VeChain breaks out from a bull flag, rebounding from $0.04062 and aiming for $0.056.
Price stability above $0.04341 may drive VeChain to test $0.04725, supported by a bullish RSI and EMA positioning.
VeChain's price above the 50 EMA ($0.03593) and 200 EMA ($0.02825) highlights strong upward momentum and stability.
VeChain's price movement indicates a potential 30% surge, according to analyst Ali. The breakout from a bull flag pattern suggests a price increase to $0.056. This follows a strong rebound from $0.04062, aligned with key Fibonacci retracement levels.
The breakout is a shift from a prior corrective phase, showcasing bullish momentum. VeChain's position near critical resistance levels precedes further upward movement, as technical indicators show growing bullish sentiment.
Bullish Momentum Drives VeChain Rebound
After a corrective phase within a descending channel, VeChain saw a decisive breakout. This was fueled by a strong rebound from the 0.618 Fibonacci level, approximately $0.04062. Notably, the price moved beyond the 0.786 Fibonacci level at $0.04341, signaling renewed strength.
Source: Ali
The recent breakout suggests the bulls are regaining control, with the price now approaching its next significant resistance near $0.04725.If the price holds above $0.04341, it may target higher levels, including $0.05262.
However, failure to sustain above this point could prompt a retest of $0.04062, a critical support zone. This support aligns with the earlier rebound, emphasizing its importance in the current trend.
Key Indicators Reflect Bullish Trend
VeChain's position above the 50-day EMA ($0.03593) and 200-day EMA ($0.02825) confirms its bullish momentum. The gap between these two averages underlines strong upward momentum. Additionally, the RSI at 58.80 suggests room for further growth before reaching overbought conditions, maintaining the neutral-to-bullish sentiment.
Source: BingX
The price has encountered resistance near $0.04500, with recent consolidation observed around $0.04260. This level could act as a pivot, potentially leading to higher gains if surpassed. Alternatively, breaking below $0.04260 may see the price retrace to test the 50 EMA.
EMA Levels Highlight VeChain's Support Zones
The 50 EMA serves as immediate dynamic support, while the 200 EMA represents long-term stability. Failure to hold above the 50 EMA could signal weakening momentum, pushing the price closer to the 200 EMA at $0.02825. The RSI supports the view of potential upside, reflecting steady price movement without excessive overextension.
