• VeChain broke a 205-day downtrend, showing strong bullish signs.
  • Key levels to watch: $0.0241 (bullish) and $0.0215 (bearish).
  • Market signals indicate potential breakout or structural loss by tomorrow.

As Bitcoin hovers in the $62,000 price range, all eyes shift to altcoins hoping to catch bullish signals and catch the pump before Bitcoin leads the charge. Many altcoins like SUI and FET have already begun to pump while other popular altcoins like SHIB, DOGE, ADA, JASMY, and VET are all preparing for massive pumps. 

VET Signals Multiple Bullish Signals

In particular, VeChain (VET) catches the attention of many analysts for its incredibly bullish signals. As we can see from the post below, one analyst takes a deep dive into the many bullish aspects of the VET price chart . To highlight, he begins by stating that VeChain (VET) is showing strong bullish momentum, and suggests that it’s time for the VeFam community to take notice.

I don't think people realize how BULLISH the $VET chart is right now…

It's time to WAKE UP #VEFAM ! 🥳 #VeChain is 145% away from it's 2024 high. 🚀

It's a 58% pump away from the point of control on the VRVP.

VET broke out of a 205-day downtrend on September 19th.📈

Since… pic.twitter.com/dYj7CJfm9h

— Aj (@Ajwritescrypto) October 8, 2024

According to this analyst, VeChain is currently only 145% away from its 2024 high, and just a 58% pump from the point of control on the Volume Range Volume Profile (VRVP). VET broke out of a significant 205-day downtrend on September 19th, marking a major turning point .

Since then, the altcoin has maintained a series of higher lows, moving within an ascending broadening channel, a positive technical pattern that hints at further growth. The recent shift in money flow, detected by Market Cipher indicators, shows that the flow turned green six days ago, another strong sign of potential gains ahead.

Read CRYPTONEWSLAND on google news

Notable Trends and Events to Watch for VET Pump

Additionally, he marks the key support and resistance levels to watch which include $0.0241, a break that could confirm bullish momentum, and $0.0215, a dip below which could signal a bearish move. He says that traders should keep an eye on these critical levels as VeChain navigates its current trend.

He then goes on to highlight a notable technical event as VET faces the upper band of a local downtrend that started recently. This moment can be seen as a make-or-break scenario, where the coin could either break out of the downtrend or lose a four-week structure. Finally, the analyst urges caution, advising traders to react to market moves rather than forcing trades.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.