VeChain’s native token VET saw a big price surge.
The breakout was caused by high VET ETF speculations.
VET heads towards the next big resistance level, another breakout will be very bullish.
Amid the steady sideways movement of the crypto market, many altcoin charts are showing potential for a massive price surge. In particular, VeChain (VET) chart signals indicate pivotal breakouts and suggest a great price surge.
$VET PUMPING HARDAfter the retest of the formation, #VET is rising hard!We are seeing more than a 5% increase alreadyDid you take this trade on #VeChain ? https://t.co/i6ZIXvrJ44 pic.twitter.com/cZI1IczqBJ
— Crypto Yapper (@CryptoYapper) May 27, 2024
As we can see from the post above, one analyst noticed that VET price is pumping hard. The sudden breakout was expected earlier that day when a retest of formation took place and a breakout was expected.
Just as the analyst predicted, the VET price did breakout and surge by over 5%. The analyst then notices that the VET price is increasing by more than 5% in this run. In response other analysts say 5% pump is nothing to be excited about.
#VeChain $VET upcoming resistance. Watch out!Bullish if it breaks! https://t.co/1aiJnhdD5o pic.twitter.com/AUd9ESXy0s
— CryptoBusy (@CryptoBusy) May 27, 2024
To this another analyst steps in and marks the importance of the pump. He says this pump brings the VET price closer to the next resistance band. If VET price were to break out of this resistance line then it is a very bullish sign if it breaks through.
VeChain has shared many milestone and achieved incredible accomplishments through its journey so far. In this year alone the project launched VeBetterDAO and is gearing up to launch the mainnet next month.
The project has also placed itself as a leader in the RWA, sustainability sector, and the greeted crypto realm. So much so that the project represented crypto in a discussion with the UK government about taking a new crypto-positive direction.
This paired with VeChain’s blockchain supply chain and sustainability-driven initiatives with big names like the UFC and the Italian Open certainly puts it at a top level. According to many analysts it is only a matter of time till the VET price breaks its previous ATH.
The added expectation of a possible VET ETF listing has also added fuel to the already high expectation for a massive VET price rally. Will VET price surpass its previous ATH and surpass $1 and will it do so before or after an ETF approval?
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The post VeChain Price Pumps as VET ETF Speculation Rises, VET Heads Towards Next Resistance Level, Bullish If Breaks appeared first on Crypto News Land.