CandleFocus

VET Price Corrected 60%, Showed a Breakout, Can It Shoot Up Soon

Author: Content Editor
The VeChain (VET) price has been in a correction phase since March, losing around 60% and declining through a descending channel. However, the price has recently triggered a breakout from the channel and is approaching the descending trendline in a wider time frame. Key indicators suggest that if the breakout is successful, the price could reach several levels, including $0.0264, $0.0300, $0.0338, $0.0386, and $0.0483. Technical indicators such as the RSI and MACD also support a bullish forecast. However, it is important to monitor if the price can sustain above the 20-day exponential moving average (EMA) and the major support level of $0.0200 to confirm the potential bullish trend. A drop below the major support level could indicate a bearish trend.

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