VeChain Looks Ready For A Massive Rally; VET Could Hit $20 If It Makes This Move

Enterprise blockchain project VeChain’s VET token appears to be gearing up for a massive breakout, according to crypto trader World of Charts. VET looks poised for a decisive move after coiling in a symmetrical triangle consolidation pattern.

As highlighted, VET is pressing up against crucial long-term trendline resistance after establishing higher support lows in the pattern:

“vechain Vet Seems Like Now #Vet Is Ready For Massive Breakout Moving In Symmetrical Triangle Formed New Higher Low And Preparing For Another Higher High Incase Of Major Multi Year Trend Line Resistance Breakout”

The repeated tests of this key barrier, combined with the triangle apex convergence, mean volatility is likely to emerge soon. An upside breakout could pave the way for a robust surge back towards highs around $0.20.

This aligns with analysis from altFINS noting VET’s developing falling wedge formation, another constructive consolidation pattern that tends to resolve bullishly.

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Still, until the breakout and resistance give way, risks remain tilted to the downside. Only a move above $0.034 would officially change VET’s posture to bullish. Otherwise, weakening momentum could lead to one final capitulation leg below $0.20 before accumulation resumes.

But the repeated pressure being applied against resistance means VeChain looks poised for a significant directional stride. The coming sessions should provide traders with meaningful resolution if VET has enough momentum for a breakout or if a more ranging chop persists until the next attempt.

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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