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NewsBTC 2021-10-22 15:46:23

VET Breaks Major Trend Line, Why VeChain Could See Massive Explosion

VeChain (VET) is on the move with a 10.3% and 51.4% profit in the daily and monthly charts, respectively. As of press time, the cryptocurrency trades at $0,13 and could further gain due to recent developments. After recording a potential bottom on October 20th, VET experienced a breakout to the upside, as analyst Justin Bennett claimed. Related Reading | VeChain Foundation Announces Vote To Implement Upgrade, Bullish For VET? With the Bitcoin season inaugurated, the first crypto by market cap has been taking liquidity from the altcoin market. In that sense, VeChain could have found a bottom in its VET/BTC trading pair with critical support at 0.123, as Bennett explained. At the time, Bennet said: VET breakout is coming. Many complain about the lack of movement. What they fail to see is that this is all just consolidation. The longer the coil, the bigger the breakout. 187 days of consolidation and counting. Yesterday, VeChain (VET) started a breakout run, the analyst said. This could put the cryptocurrency on a bullish trend but could face some obstacles if Bitcoin underperforms during the weekend. The Worst-Case Scenario, Still A Win For VeChain (VET)? VeChain has consolidated major partnerships around the world especially in Asia. The platform seems to be part of China’s national blockchain plan, as suggested by its appearance on state-backed media. Related Reading | How This VeChain Tool Will Aid Enterprises To Red...

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