VeChain

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<p>Vechain price looks ready for a bullish continuation after breaking out of a bull flag pattern. From the chart shared by Ali Charts, one can see that the pattern consists of two main components: the flagpole and the flag itself.</p>
<p>The flagpole is a sharp upward price movement within the <a href="https://www.tokenmetrics.com/blog/bull-flag-pattern" target="_blank" rel="noopener noreferrer nofollow">bull flag</a>. It precedes a period of consolidation, represented by a descending parallel channel. This formation typically indicates a bullish trend and suggests that the prior upward momentum is likely to continue following the breakout.</p>
<p>The breakout from this pattern has been confirmed as the price has surged past the upper boundary of the flag. This upper boundary previously served as the resistance line.</p>
<h2 class="wp-block-heading" id="key-fibonacci-levels-and-price-target">Key Fibonacci Levels and Price Target</h2>
<p>This breakout level aligns closely with the Fibonacci 0.786 retracement level at $0.0434, reinforcing the bullish sentiment surrounding VeChain.</p>
<p><a href="https://altfins.com/knowledge-base/fibonacci-patterns/" target="_blank" rel="noopener noreferrer nofollow">Fibonacci levels</a> are drawn out in the analysis, with the 1.0 level located at $0.0472, corresponding to the anticipated move from the breakout.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/ripple-whales-go-on-buying-spree-as-xrp-price-pumps/" target="_blank" rel="noopener noreferrer nofollow">Ripple Whales Go on Buying Spree as XRP Price Pumps</a></em></strong></p>
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<p>Additionally, the 1.272 ($0.0526) and 1.414 ($0.0556) extension levels are potential VET price targets. The analyst posits that the price could realistically reach the 1.414 Fibonacci extension.</p>
<p><a href="https://x.com/ali_charts/status/1860810792024649896?t=nPuujUqxKvnVdvw1tj6YeQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">The analysis </a>suggests a potential 30% upward move to $0.056, with resistance possibly appearing at $0.0472 and $0.0526. Support levels are identified at $0.0434 and $0.0406, which may attract buyers if the price retreats.</p>
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<p>The post <a href="https://captainaltcoin.com/vechain-vet-price-set-for-30-price-surge-following-key-breakout-heres-the-outlook/" rel="noopener noreferrer nofollow">VeChain (VET) Price Set for 30% Price Surge Following Key Breakout: Here’s the Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

VeChain (VET) Price Set for 30% Price Surge Following Key Breakout: Here’s the Outlook

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