In the realm of cryptocurrency's volatile tides, VeChain (VET) stands distinguished, showcasing both turbulence and commendable upswings in recent epochs. Presently, VeChain's VET trades at $0.04456, after a day of tumult where it saw a 1.95% decline. Yet, despite this daily stumble, the altcoin has surged remarkably, marking a 40% ascent over the preceding week, epitomizing its steadfastness amidst market vicissitudes.

Martin Hiesboeck, Uphold's Head of Research, shed light on VeChain's promise in a recent exposition. Particularly within the sphere of supply chain governance, Hiesboeck emphasized VeChain's pivotal role, hinting at its enduring significance and anticipated ascension. Noteworthy is Uphold's documented surge in transactional endeavors linked to VET, signaling a burgeoning fascination and integration of the asset.
However, the pivotal query endures: Can VeChain uphold its current trajectory as February's denouement looms?
The initial forecast for VET in February 2024 has been devised, drawing from historical price dynamics. Crypto pundits foresee an average VET rate of approximately $0.0482 by month-end, potentially extending the bullish trend observed in recent times. Analysts project a price range between $0.0436 and $0.0496, with VeChain already surpassing the $0.05119 threshold, suggesting a likelihood of further upward mobility.
Contemplating lofty aspirations, there is fervent speculation among investors and enthusiasts regarding VET's future trajectory. While the asset has showcased substantial growth, aspirations of a $1 valuation remain speculative, contingent upon diverse factors such as market sentiment, adoption rates, and regulatory landscapes.
In sum, VeChain's journey through February has been marked by volatility and notable upturns, underscoring its resilience and promise in the cryptocurrency domain. As the month unfolds, all gazes are fixed on VET's price dynamics, with stakeholders eagerly awaiting the continuation of its bullish momentum.

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Date: Sat, Nov 09, 2024, 11:17 AM GMT
The cryptocurrency market is in a strong bullish trend, with Bitcoin (BTC) soaring to new all-time highs, reaching an impressive $77,000. This upward momentum is generating a positive impact on altcoins, many of which are showing signs of an impending rally.
Among them, VeChain (VET) and VeThor (VTHO) are standing out as both assets appear primed for a potential breakout.

Source: Coinmarketcap
Here’s a closer look at the technical outlook for VET and VTHO.
1.VeChain (VET)
$VET is showing promising technical signs that indicate a potential breakout. The daily chart illustrates a descending triangle pattern, a structure that usually suggests an impending price reversal if broken to the upside. VET is trading close to the resistance line of this pattern, and a breakout above this level could pave the way for substantial gains.

Recent price action indicates that VET is gathering bullish momentum, with support levels holding strong at around the $0.022 mark. Additionally, the Relative Strength Index (RSI) is recovering from oversold territory, suggesting that buying pressure is gradually increasing.
If VET can break above the trendline resistance around $0.023, it could confirm a bullish breakout, with the next target levels at $0.026 and $0.032. A sustained move above these levels could lead to an extended rally as investor confidence strengthens.
2.VeThor (VTHO)
$VTHO is displaying a similar pattern, forming a descending trendline resistance with support in the $0.0015 range. The chart shows that VTHO is testing this resistance line, and any breakout above it could trigger a rally.

The RSI for VTHO also hints at a bullish reversal, gradually climbing from oversold levels, which could mean that buyers are starting to take control. If VTHO manages to push above the trendline resistance around $0.0017, it may target the $0.0023 and $0.0029 levels in the near term.
A successful breakout would likely encourage more buyers to enter, potentially leading to further gains for VTHO as it aligns with the broader market sentiment.
With both VET and VTHO positioned near crucial resistance levels, any significant movement above these levels could confirm a breakout and start an upward trend. However, market participants should remain cautious and monitor these levels closely, as failed breakouts could lead to short-term retracements.
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Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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