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VeChain

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<ul>
 <li>VeChain (VET) is attempting to breach the 50-day MA, signaling a potential shift from a bearish to bullish trend.</li>
 <li>VeChain exhibits a bullish falling wedge pattern, suggesting a breakout when the price breaks above the upper trendline.</li>
 <li>VeChain’s supply chain solutions and broader crypto market recovery contribute to its bullish outlook.</li>
</ul>
<p>VeChain (VET) is on the <a href="https://cryptonewsland.com/vet-price-bullish-as-vechain-unveils/" rel="noopener noreferrer nofollow">cusp of a </a><a href="https://cryptonewsland.com/vet-price-bullish-as-vechain-unveils/" target="_blank" rel="noopener noreferrer nofollow">significant</a><a href="https://cryptonewsland.com/vet-price-bullish-as-vechain-unveils/" rel="noopener noreferrer nofollow"> breakout</a>. Currently trading at $0.0287, VET is trying to breach the 50-day and 50-week moving averages (MA). This critical zone could be the key to substantial gains.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/VET?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#VET</a><br><br>VeChain forming falling wedge on 12H timeframe<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f481-200d-2642-fe0f.png" alt="💁‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Successful breakout above ma 50 could lead to 50-60% price increase<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto Traders-join Telegram<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/caOlZBzS3k" rel="noopener noreferrer nofollow">https://t.co/caOlZBzS3k</a> <br>. <a href="https://t.co/pjJsAcGZTA" rel="noopener noreferrer nofollow">pic.twitter.com/pjJsAcGZTA</a></p>— Whales_Crypto_Trading <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@WHALES_CRYPTOx) <a href="https://twitter.com/WHALES_CRYPTOx/status/1812104782674624715?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 13, 2024</a>
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<h2 class="wp-block-heading" id="h-the-significance-of-the-50-ma">The Significance of the 50 MA</h2>
<p>The 50 MA is a vital indicator that signals a change in trend. When a cryptocurrency breaks above this average, it can indicate a shift from a bearish to a bullish trend. For VeChain, this breakthrough could mark the start of a major uptrend.</p>
<p>At present, the price of VET has reached 50 MA on both the daily and weekly charts. The coin has shown resilience by maintaining its position just below this crucial level. A sustained move above the 50 MA could spark a rally, potentially leading to a significant price surge.&nbsp;</p>
<h2 class="wp-block-heading" id="h-the-falling-wedge-chart-pattern">The Falling Wedge Chart Pattern</h2>
<p>The <a href="https://www.babypips.com/learn/forex/wedges" rel="noopener noreferrer nofollow">falling wedge </a><a href="https://www.babypips.com/learn/forex/wedges" target="_blank" rel="noopener noreferrer nofollow">pattern</a> is another factor to consider. This pattern is a bullish signal that often forms when the price makes lower highs and lower lows, converging towards a point.&nbsp;</p>
<p>Once the price breaks above the upper trendline, a breakout is confirmed. VeChain is currently exhibiting this pattern, adding weight to the bullish sentiment.</p>
<p>Moreover, market conditions are ripe for a VeChain breakout. Recent developments in the crypto space, including positive regulatory news and increased adoption, have created a favorable environment. The overall <a href="https://cryptonewsland.com/crypto-markets-rally-june-opens-with-2-billion-inflows-ethereum-shines/" rel="noopener noreferrer nofollow">market </a><a href="https://cryptonewsland.com/crypto-markets-rally-june-opens-with-2-billion-inflows-ethereum-shines/" target="_blank" rel="noopener noreferrer nofollow">sentiment</a><a href="https://cryptonewsland.com/crypto-markets-rally-june-opens-with-2-billion-inflows-ethereum-shines/" rel="noopener noreferrer nofollow"> is shifting</a>, with many investors eyeing VeChain as a potential high-reward asset.</p>
<p>VeChain’s fundamentals also support a bullish outlook. The platform continues to innovate, offering solutions for supply chain management and other industries.&nbsp;</p>
<p>Furthermore, the broader crypto market is showing signs of recovery. Bitcoin and other major cryptocurrencies have rebounded, lifting the entire market. This recovery is likely to have a positive impact on <a href="https://vechain.org/" target="_blank" rel="noopener noreferrer nofollow">VeChain</a>, driving its price higher.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/cardano-set-for-major-breakout-analyst-spots-bullish-falling-wedge/" rel="noopener noreferrer nofollow">Cardano Set for Major Breakout? Analyst Spots Bullish Falling Wedge</a></li>
 <li><a href="https://cryptonewsland.com/all-eyes-now-on-bitcoin-as-bearish-wedge-comes-into-play/" rel="noopener noreferrer nofollow">All Eyes Now on Bitcoin as Bearish Wedge Comes Into Play</a></li>
 <li><a href="https://cryptonewsland.com/shiba-inus-positive-trend-is-0-000012-within-reach/" rel="noopener noreferrer nofollow">Shiba Inu’s Positive Trend: Is $0.000012 Within Reach?</a></li>
 <li><a href="https://cryptonewsland.com/vet-poised-for-explosive-upward-price-action-as-vechain-teases-exciting-venture-for-readers-worldwide/" rel="noopener noreferrer nofollow">VET Poised for Explosive Upward Price Action as VeChain Teases Exciting Venture for Readers Worldwide</a></li>
 <li><a href="https://cryptonewsland.com/cake-tokens-path-to-4-bullish-signals-in-a-volatile-crypto-market/" rel="noopener noreferrer nofollow">CAKE Token’s Path to $4: Bullish Signals in a Volatile Crypto Market</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/vechain-poised-for-major-breakout/" rel="noopener noreferrer nofollow">VeChain Poised for a Breakout, MA 50 Breakthrough Could Lead to Major Gains</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

VeChain Poised for a Breakout, MA 50 Breakthrough Could Lead to Major Gains

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