VeChain

Major

CRYPTO

Reversal

<ul>
 <li>VeChain's price fell to $0.023, marking a 91% decline from its all-time high.</li>  
 <li>EGRAG CRYPTO predicts VeChain could reach $0.91 or $2.26 based on Elliott Wave Theory.</li>  
 <li>VeChain's RSI recently improved, signaling a shift from bearish to neutral market sentiment.</li> 
</ul>  
<p>VeChain (VET), a decentralized supply chain management platform for smart solutions built on blockchain, has been on a bear cycle recently, with its price dropping in the past six months. Recent analytical analysis, though, points towards the possibility of a reversal in this digital asset being in the offing.&nbsp;</p>  
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<p><a href="https://cryptonewsland.com/?s=VeChain" target="_blank" rel="noopener noreferrer nofollow">VeChain</a> was at $0.023 by September 20, which was a 91% drop from its all-time high, suggesting that the coin started a bearish cycle longer than expected but may be ready for change.</p>  
<h2 class="wp-block-heading" id="h-crypto-s-analysis-on-vet-price"><strong>CRYPTO's Analysis on VET Price</strong></h2>  
<p>The analysis conducted by EGRAG CRYPTO, a prominent crypto analyst on the social platform X, leverages Elliott Wave Theory to predict future price actions for VET. <a href="https://x.com/egragcrypto/status/1837366576426758372" target="_blank" rel="noopener noreferrer nofollow">According</a> to this theory, VET is on the verge of entering an impulsive Wave 3, usually characterized by significant price increases. This wave is expected to consist of five sub-waves, potentially leading to a substantial price surge, commonly called a "blow-off top."</p>  
<p>Historical patterns and Elliott Wave structures suggest that these impulsive movements can unfold quickly, often completing within a 150-day cycle. EGRAG CRYPTO's predictions include two scenarios: "Move A," targeting a price of $0.91, and a more ambitious "Move B," aiming for $2.26. Such predictions are grounded in past performance metrics, with similar patterns resulting in exponential gains.</p>  
<h2 class="wp-block-heading" id="h-vechain-market-conditions"><strong>VeChain Market Conditions</strong></h2>  
<p>Indicators from TradingView shed light on VeChain's current market conditions, supporting these predictions. The Bollinger Bands indicate that VET has been trading near its lower band, a sign of sustained bearish pressure. However, a slight narrowing of these bands suggests a forthcoming decrease in volatility, typically preceding significant price movements.</p>  
<p>Moreover, the Relative Strength Index (RSI) has recently recovered, moving above the 40 level to around 43.53. This shift from a bearish to a more neutral stance could signal the early stages of a market turnaround. Trading volumes and market sentiment will confirm these potential upward movements.</p> 
<p>The post <a href="https://cryptonewsland.com/vechain-eyes-major-reversal-as-analysts-predict-surge-to-2/" rel="noopener noreferrer nofollow">VeChain Eyes Major Reversal as Analysts Predict Surge to $2</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

VeChain Eyes Major Reversal as Analysts Predict Surge to $2

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