VeChain (VET) Predicted to Experience Bull Run
Renowned crypto analyst Ali Martinez has made a prediction for VeChain (VET), suggesting that the cryptocurrency could see a bull run that leads to a new all-time high. Martinez believes that VET is exhibiting patterns similar to those seen before the 2021 bull run, indicating a potential surge in price. The analyst predicts that VET could reach the $0.054 price range, which it hasn’t reached since April 2022. The chart provided shows a consolidation period followed by the 2021 bull run, suggesting a possible repeat of this trend. Martinez also forecasts a correction until June, followed by a bull run that could drive the price of VET to $0.70 by November.
VET Price Action and Market Activity
VET’s price recently broke above a significant resistance level but faced rejection in attempts to break out of the $0.03 price resistance. However, following Bitcoin’s rally, VET has been tracking its movements closely and experiencing significant surges in price. Currently trading at $0.04625, VET has seen a 5.1% surge in the last hour and a 32.3% surge in the previous 24 hours. The cryptocurrency has also experienced an increase in daily trading volume and market capitalization, indicating growing market activity and positive sentiment among investors.
Hot Take: Long Road Ahead for VET
While Ali Martinez’s prediction suggests a potential bull run for VeChain (VET), it’s important to note that the cryptocurrency still has a long way to go before reaching its all-time high achieved three years ago. Despite recent positive developments and market activity, VET is currently 85.33% lower than its previous ATH, highlighting the challenges it faces in reclaiming its former price levels.
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