May 16, 2022

VETERINARIAN Holders Unimpressed With VeChain’s New Highs

2 min read

VeChain made headings after reaching a new all-time high of $0.106 in the previous couple of hours. Although a spike in profit-taking appears impending, VET has more room to go up.

VeChain Targets Higher Highs

A brand-new Twitter survey carried out by Real Vision asked cryptocurrency lovers whether Hedera Hashgraph, Ravencoin, or VeChain was the most undervalued altcoin in the market.

Roughly 66% of more than 140,000 respondents believe that VET has not realized its upside possible despite its network energy.

Although the supply management token has published a whooping year-to-date return of over 460%, market individuals believe there’s more room for development.

Following the bullish sentiment, VET just recently broke out of a balanced triangle that developed on its 4-hour chart for the past two weeks.

The abrupt growth allowed VET to rise to a new all-time high of $0.106. Even though some financiers might benefit from the recent cost action to book earnings, this technical pattern recommends additional gains on the horizon.

VeChain US dollar price chart
< img loading ="lazy"class="wp-image-84994 size-full"src="" alt ="VeChain United States dollar rate chart" width =" 2696 "height=" 1516 "srcset=" 2696w, 782w, 1024w, 768w"sizes="( max-width: 2696px) 100vw, 2696px"> VET/USD on TradingView By determining the height of the triangle’s y-axis and adding it to the breakout point at $0.095, it prepares for that VeChain is primed to increase another 6.30%.

Such a bullish forecast puts VET’s market price at a brand-new record high of $0.113.

Disclosure: At the time of press, the author held Ethereum and Bitcoin.