Analyst Starts VeChain (VET) Accumulation Based on This Bullish Signal

Key Points

1. CrediBULL Crypto is accumulating VET as a long-term hold, citing a clean five-wave impulse and a nearing end to the corrective Wave 2, similar to Bitcoin's historic $3K bottom pattern.

2. VET's current price is $0.02410, down 4.5% in 24 hours and nearly 10% weekly, with a market cap of $2.07 billion and a circulating supply of 86 billion tokens.

3. Technical indicators show a short-term bearish trend, with RSI near 34, but this may signal the end of Wave 2 and a potential reversal.

4. Elliott Wave analysis suggests VET could drop to $0.020–$0.018 before a breakout, with a break below $0.017 invalidating the setup.

5. CrediBULL emphasizes risk management, looking for bullish reversal signals like RSI divergence or volume spikes to confirm a new uptrend.