Will VET Surge Beyond $0.02 in the Near Future?
VeChain (VET) price has sharply increased over the last two days after trading sideways for almost a month.
In late August, the token fluctuated from a support at $0.0155 to a resistance at $0.0165. After that, it saw a slight price surge that sought to breach this resistance, but it only dropped to $0.0155, staying close to it for the next ten days.
This was how VET behaved throughout the first ten days of September. However, on September 10, its price dropped again, finally breaking the support at $0.0155. The token sank to $0.0147 by September 12.
This was when it saw a sudden bullish burst, which allowed it to skyrocket to $0.0165 within only a few hours. Initially rejected, VET corrected to $0.0160, only to bounce back up. This time, it reached $0.0168 before being rejected again, dropping to $0.0163.
That last drop occurred yesterday, September 14, and after finding its footing again, VeChain’s price surged past the resistance, reaching $0.0175.
It almost reached it a few hours before the time of writing, but it eventually stopped at $0.01729 before correcting to $0.01714, which is where it sits right now.
Can VeChain reach $0.02?
Despite spending most of the month significantly lower, VET’s price at the time of writing is only 2% down compared to 30 days ago. However, the weekly chart shows how the bullish wave increased VeChain’s value by over 10%. Finally, in the last 24 hours, VET saw a 3% increase.
However, buyers expect it to go further up, as many hope that it could finally return to $0.02 — the height it has not seen since July.
Experts have been closely monitoring its performance, noting that it successfully broke the resistance trendline of its descending pattern, which will lead to a daily close above this trendline.
If this happens, it will confirm the breakout. Of course, VET is still expected to see a corrective phase that will test its newly established support. If the support holds, the token will be clear to climb up.
VET surge came immediately after project’s Coinbase listing
While the recent surge might be partially caused by Bitcoin’s recent return to a resistance at $26.8k, VET may have surged lately.
🥳 #VeChain $VET is +9.4% and #VeThor $VTHO is +73.9% since their @coinbase listing news hit a bit over 1 day ago. As the top two current trending assets in #crypto, $VTHO is understandably taking volume from $VET as its gains have been far more notable. https://t.co/UQHo9JCa4r pic.twitter.com/Lw8ZK7kr1P
— Santiment (@santimentfeed) September 14, 2023
VeChain’s VET was listed on Coinbase alongside VeThor (VTHO) only two days ago. The two assets started trending immediately, which led to them seeing gains. If the hype doesn’t end too soon, VET could see a continuation of its price increase.
Wall Street Memes offers one last chance to buy WSM
The change in the market trend has benefitted many cryptocurrencies, and if it continues, new arrivals to the crypto market might also benefit from it. One of the biggest newcomers to the crypto market is a meme coin called Wall Street Memes (WSM), a project that managed to raise over $25 million this summer.
Wall Street Memes held a presale over the last few months, and the good news is that it will be listed on exchanges in only ten days. Even better information is that the presale is continuing, offering the token for $0.0337.
However, it will close soon, so this is the last chance for those who wish to buy it before it enters circulation and hits the exchanges. Those interested in purchasing the most popular meme coin of 2023 can get it via their credit/debit card or exchange for ETH, USDT, and BNB.
Ends Soon – Wall Street Memes
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