The post VeChain [VET] Could Target Price Increases with Bullish Cup & Handle Formation Suggesting Growth Potential for 2025 appeared on BitcoinEthereumNews.com.

VeChain [VET] is generating buzz in the cryptocurrency market, poised for bullish growth with ambitious price targets set for 2025. Projections suggest that strategic developments within VeChain’s ecosystem could lead to significant price increases, driven by technological advancements and market demand. “The bullish Cup & Handle formation indicates that VeChain is ready for a substantial upward movement,” commented a source from COINOTAG. VeChain [VET] is set for potential growth in 2025, driven by a bullish Cup & Handle pattern and strong community interest, targeting key price levels. Understanding the Cup & Handle Pattern in VeChain’s Chart The formation of a Cup & Handle on the monthly chart of VET has garnered significant attention, typically indicating strong bullish momentum. This particular pattern is characterized by a rounded bottom (the cup) followed by a slight consolidation phase (the handle) that precedes a potential breakout. Historically, such formations have led to rallies following sustained periods of accumulation. At present, VET is trading around $0.05074, having successfully breached the handle’s resistance level, which opens up opportunities for upward movement. Analysts note that breaking through key resistance levels is essential for sustained momentum. Key mid-term targets for VeChain include $0.11300 and $0.16515, with long-term projections reaching as high as $0.44240. Analyzing past data, breakouts from Cup & Handle patterns coincide with escalating market interest and a boost in trading volume. The Role of Social Dominance in VET’s Market Potential Recently, VET’s Social Dominance has surged, indicating an increased level of interest from the trading community. This uptick complements the positive technical signals of a Cup & Handle breakout on VeChain’s chart and reinforces the broader narrative surrounding its utility in supply chain management. Historically, rising social dominance has paved the way for price rallies in altcoins by attracting new capital. Initiatives like VeBetterDAO and the…

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Filed under: News - @ January 5, 2025 1:21 pm