VeChain

2024

Bitcoin

Crypto analyst and YouTuber, Crypto ZX has released an update on <a href="https://www.newsbtc.com/news/vechain-skyrockets-by-77-to-reach-new-yearly-high-analyst-bullish-on-vet-targeting-1-6/">VeChain (VET)</a> price movements, predicting a surge to new all-time highs if the cryptocurrency succeeds in breaking certain resistance levels.&nbsp; 
<h2 id="catalysts-behind-vet-s-projected-price-surge">Catalysts Behind VET’s Projected Price Surge</h2> 
In a YouTube video released on Monday, Crypto ZX <a href="https://youtu.be/0ieepzf_dco?si=vfLx2Ijmf6WYdYwg" rel="nofollow">explored</a> VeChain’s historical and recent price actions, emphasizing a potential for an upward trajectory as market down trends subside. The analyst delved into VeChain’s recent performance in relation to <a href="https://bitcoinist.com/bitcoin-price-crashed-below-40000/" rel="nofollow">Bitcoin</a>, offering insights into key resistance levels and projecting a major surge during the anticipated <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-bull-run-2024-inevitable/">2024 bull run.&nbsp;</a> 
According to the Crypto ZX, VeChain previously broke above a significant price resistance on December 20, 2023, reaching almost $0.039 before undergoing a subsequent pullback. Despite an attempt to breach the same price resistance on January 11, 2024, the cryptocurrency faced a notable rejection.&nbsp; 
Crypto ZX has suggested that VeChain may be consolidating around the $0.03 price range. Nonetheless, the cryptocurrency’s expected goal is to experience a surge beyond the crucial resistance level at $0.033 cents.&nbsp; 
The analyst has revealed that a break above the resistance level would give VeChain a greater chance to surge to new highs. He predicts that if VeChain can overcome current resistance levels, then the <a href="https://www.newsbtc.com/news/vechain-vet-set-to-explode-analyst-predicts-7500-rally-to-2-3/">price of the cryptocurrency could rise</a> as high as $0.04425 cents. 
Crypto ZX explains that the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-flash-crash-crypto-market-witnesses-2-5-billion-inflow-following-recent-downturn/">market’s recent downturn</a> has led to VeChain’s fluctuating price movement along the support line. He anticipates a retracement of around 17.26% from the key resistance level and predicts that VeChain could surge to new yearly highs if <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-aims-higher-45000/">Bitcoin</a> succeeds in surpassing the crucial levels at $46,000. 
“At the end of the day all are speculations, but I am very optimistic about the price of VeChain for the year 2024. I think it is going to shock a lot of people,” Crypto ZX stated.&nbsp; 
<h2 id="vechain-price-update">VeChain Price Update</h2> 
In his YouTube video, Crypto ZX provided an update on VeChain’s recent price movements and current value. According to the analyst, VeChain is down about 2.3% on the daily time frame. He reveals that the majority of the market is also down currently due to <a href="https://www.newsbtc.com/news/post-etf-pain-bitcoin-plunges-20-and-drowns-the-crypto-market-in-a-sea-of-red/">Bitcoin’s recent pullback.</a> 
At the time of writing, VeChain is trading at $0.027, reflecting a decrease of 1.51% in the past 7 days, according to CoinMarketCap. The analyst revealed that the cryptocurrency is also down by 1.9% in BTC, compared with the market capitalization, which is holding very strong above the $2 billion mark.&nbsp; 
Crypto ZX has disclosed that despite the traction gained by VeChain’s ongoing projects and developments, the <a href="https://www.newsbtc.com/press-releases/ethereum-eth-and-vechain-vet-prices-struggling-today-but-sees-bright-future-tomorrow-how-high-can-reach-ethereum-and-vechain-prices/">cryptocurrency has not reflected the impact.</a> He emphasized that VeChain is undervalued, considering the overall expansion and advancements the cryptocurrency has undergone. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/HEfG3agZ/" alt="VeChain VET price chart from Tradingview.com" width="3286" height="1530">

VeChain Ready For Big Moves: Analyst Identifies Key Factors That Will Drive VET To New ATH

Table of Contents

NewsBTC

Other articles published on Feb 7, 2024

ENS Price Signals Breakout! Ready For A 40% Rally This Month

MicroStrategy Bolsters Bitcoin Holdings with New Purchase

Ethereum Holders Withdraw Massive Sums from Exchanges

CoinLedger: 2023 Crypto investors realized below $1k on average

Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?

Fed President Neel Kashkari Rebuked by Financial Analyst Peter Schiff on Economic Views

Join our free newsletter for daily crypto updates!