VeChain (VET) Breaks Free: What’s the Next Price Target?

• Using charts, some analysts suggest a bullish reversal with a short-term price target of $0.10
• VET had around a 27% increase in the last 7 days
• The platform has collaborated with major corporations such as DHL, BMW, and Walmart

VeChain (VET) has recently shown signs of breaking out of its prolonged downtrend. This VET crypto breakout has sparked renewed interest among crypto enthusiasts eager to know the next price target.

Currently trading around $0.03170, technical indicators suggest a potential bullish reversal for VET.

Technical Analysis Signals Bullish Reversal for VET Price

On X, a chart from TradingView shows VET breaking out of a descending channel (a technical pattern indicating a prior downtrend), followed by a retest of resistance as support. This suggests a bullish reversal with a short-term price target of $0.10, compared to its current approximate price of $0.03170.

This isn’t the only chart regarding VET, as many analysts use such tools to predict how the price will go. For instance, this chart shows that the 0.236 Fibonacci retracement level was rejected, which is the key resistance at around $0.056. Fibonacci levels are derived fro…

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