The post VET May Break Out From Bullish Flag appeared on BitcoinEthereumNews.com.

VeChain price prediction suggests that VET may break out from the declining channel as it trades in a bullish flag pattern. Bullish flag pattern implies a breakout of VET crypto over the daily time frame chart. The spikes from September shows the pole of the bullish flag and that the declining channel is the flag. The breakout doesn’t necessarily require a substantial increase in trading volume, but analysts and traders generally prefer it as it suggests that investors and other traders are showing renewed interest in the stock. An upward breakout may be possible if VeChain crypto sustains at the upper trendline of the declining parallel channel. However, VET crypto may surge maximum as it breaks out of the declining pattern.  VeChain price was at $0.01685000 and gained 1.89% of its market capitalization intraday. However, trading volume fell by 6.57% during the intraday trading session. This demonstrates that sellers are still present in the trade to pull VET down. Volume to market cap ratio was at 2.28%. VeChain May Skyrocket After Breakout  VeChain price prediction indicates the upward momentum of VET crypto inside the falling pattern. The cryptocurrency has been trying to break out of the declining pattern but failed to sustain at the upper trendline of the parallel channel. However, trading volume highlights a low accumulation rate by the buyers. Meanwhile, VET crypto recovered above 20 and 50-EMAs to reach the 100 and 200-days daily moving averages. VET crypto may surge significantly after breaking out of the declining parallel channel or flag pattern. However, buyers need to accumulate to push VET crypto upwards during the day’s trading session because volume change is below average. VET crypto price gained around 2.82% in a week while slipped by 4.91% in a month. Moreover, VET crypto declined by 12.57% in the last…

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Filed under: News - @ October 22, 2023 1:16 am