VeChain hits KEY support! – Examining odds of VET’s 40% rally
2025-07-10 19:15:17
Main Idea
VeChain (VET) has ended its prolonged bearish trend with a 7.25% price surge, showing potential for a 40% rally if bullish momentum continues.
Key Points
1. VET's price surged 7.25% in 24 hours, breaking its prolonged bearish trend and trading near $0.0225 at press time.
2. Technical analysis indicates VET is forming a bullish double-bottom pattern, with a key support level at $0.019 that has historically led to rallies.
3. If VET stays above $0.022, it could rally up to 40%, potentially reaching $0.032; falling below may trigger a pullback or consolidation.
4. On-chain metrics show bullish sentiment, with 65.76% of traders holding long positions and a Binance VETUSDT Long/Short Ratio of 1.92.
5. Despite recent gains, VET remains below its 200-day EMA, indicating it hasn't fully exited a bearish phase.
Description
With a 7.25% price uptick, VET has ended its prolonged bearish trend now poised for a rally.
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