Resurgence And Resistance<\/strong><\/h2>\nInvestors are looking to other perhaps lucrative cryptocurrencies as the top cryptocurrency has been trading sideways for more than a month. However, the last twenty-four hours have presented an other viewpoint that might help VeChain rewrite the story in their favour.<\/span>
\n<\/span><\/p>\nWith a remarkable 3% price increase, VET has withstood the larger market malaise over the last day. After reaching a critical support level, this resilience suggests a possible reversal of the current downturn.<\/p>\n![\"\"](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_3bdc12.png?resize=676%2C358\")
VET price action in the last 24 hours. Source: Coingecko.<\/a><\/figcaption><\/figure>\nVET is currently under a critical test set at 0.04 resistance level. While a rejection might cause a stop or even a decline, a successful breakout above this barrier could drive the price much higher.<\/p>\n
Technicals Whisper Bullish, Analysts Take Cautious Note<\/strong><\/h2>\nTechnical experts have sent positive signals based on the current price activity.<\/span> There is hope following the technical indication of a trend reversal from a “Falling Wedge”.
\n<\/span><\/p>\nPopular crypto analyst World of Charts has set a lofty target price increase of 500% in the coming weeks.<\/p>\n
\n$Vet<\/a><\/p>\nBouncing From Solid Support (Accumulation Zone Area) Successful Retest Can Lead Massive Bullish Wave In Coming Weeks Expecting 400-500% Bullish Wave#Crypto<\/a> #Vet<\/a> #Vechain<\/a> pic.twitter.com\/r2eryHNEDL<\/a><\/p>\n\u2014 World Of Charts (@WorldOfCharts1) May 16, 2024<\/a><\/p><\/blockquote>\nSeasoned investors, however, are aware that technical study is only one component of the jigsaw. VET’s price path can be greatly influenced by general market mood as well as unanticipated developments.<\/span>
\n<\/span><\/p>\n![\"\"](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_63373e.png?resize=1024%2C578\")
<\/p>\n
VET’s Long-Term Potential<\/strong><\/h3>\nAlthough the short-term price forecasts present a nice picture, VET’s actual worth resides in its underlying technology. The emphasis on supply chain solutions by VeChain has drawn alliances with big companies like DNV GL and Walmart China.<\/span>
\n<\/span><\/p>\n![](\"https:\/\/www.tradingview.com\/x\/6OLNm69N\/\")
Total crypto market cap currently at $2.3 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\nThese joint projects show the practical uses of VeChain’s blockchain system as well as its ability to challenge established supply chain management strategies. Whether or not short-term price swings affect long-term development for the VET token, increasing acceptance of VeChain’s technology by companies could translate to such development.<\/span>
\n<\/span><\/p>\n
\n<\/span><\/p>\n
With a remarkable 3% price increase, VET has withstood the larger market malaise over the last day. After reaching a critical support level, this resilience suggests a possible reversal of the current downturn.<\/p>\n VET is currently under a critical test set at 0.04 resistance level. While a rejection might cause a stop or even a decline, a successful breakout above this barrier could drive the price much higher.<\/p>\n Technical experts have sent positive signals based on the current price activity.<\/span> There is hope following the technical indication of a trend reversal from a “Falling Wedge”. Popular crypto analyst World of Charts has set a lofty target price increase of 500% in the coming weeks.<\/p>\n $Vet<\/a><\/p>\n Bouncing From Solid Support (Accumulation Zone Area) Successful Retest Can Lead Massive Bullish Wave In Coming Weeks Expecting 400-500% Bullish Wave#Crypto<\/a> #Vet<\/a> #Vechain<\/a> pic.twitter.com\/r2eryHNEDL<\/a><\/p>\n \u2014 World Of Charts (@WorldOfCharts1) May 16, 2024<\/a><\/p><\/blockquote>\n Seasoned investors, however, are aware that technical study is only one component of the jigsaw. VET’s price path can be greatly influenced by general market mood as well as unanticipated developments.<\/span> Although the short-term price forecasts present a nice picture, VET’s actual worth resides in its underlying technology. The emphasis on supply chain solutions by VeChain has drawn alliances with big companies like DNV GL and Walmart China.<\/span> These joint projects show the practical uses of VeChain’s blockchain system as well as its ability to challenge established supply chain management strategies. Whether or not short-term price swings affect long-term development for the VET token, increasing acceptance of VeChain’s technology by companies could translate to such development.<\/span>Technicals Whisper Bullish, Analysts Take Cautious Note<\/strong><\/h2>\n
\n<\/span><\/p>\n\n
\n<\/span><\/p>\n<\/p>\nVET’s Long-Term Potential<\/strong><\/h3>\n
\n<\/span><\/p>\n
\n<\/span><\/p>\n