Despite market downturns, VeChain (VET) stands out with a bullish fractal structure, reminiscent of recent movements in XRP. What does this mean for investors ? Explore the potential upside now.
Despite the current weakness in the crypto market, the VeChain (VET) chart reveals a particularly interesting emerging fractal structure. This configuration closely resembles a bullish pattern recently observed on XRP, suggesting a potential significant rebound for VET.
Examining the daily charts of XRP and VET, we can see a striking similarity. XRP recently completed the CD leg of a bearish “bat” harmonic pattern, finding its C point near the 0.618 Fibonacci support of the BA leg. This support zone then served as a springboard, allowing XRP to recover its 50-day moving average before initiating a rise of more than 90% toward point D.
Currently, VET appears to be following a similar path. The token is holding near the 0.618 Fibonacci support of its own BA leg and hovering around its 50-day moving average—exactly where XRP began its strong upward movement.
If VET manages to stay above its 50-day moving average and follow this fractal structure, it could confirm the potential for a second wave of increases. According to calculations, the token could then climb an additional 58% to reach the projected target of $0.036.
However, to maintain these optimistic prospects, VET must absolutely maintain the key support at the 0.618 Fibonacci level and point C at $0.02114. A break below these levels would call this bullish configuration into question.
Today, VET could break its bullish trendline and bounce on its short-term POC at 0.022. A quick rebound from this zone could be a good sign for what’s to come.
In summary, the technical analysis of VeChain (VET) reveals an emerging fractal structure very similar to that recently observed on XRP. If VET manages to follow this pattern, it could signal a significant rebound in the coming weeks, with an upside potential of 58%. Savvy investors should carefully monitor these key support levels to confirm or invalidate this bullish hypothesis.
Why Choose Bitget for VET
Here’s how to buy VET on Bitget before its potential explosion of more than 58% in the coming days :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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