VeChain’s incredible success stands testament to the crypto’s prolific momentum. The token has surged by 50% in the last seven days, compelling crypto analysts to predict its future trajectory.
Ali Martinez, a prominent crypto analyst, has issued a new VET forecast, adding that the token may soon be poised for a potential 1480% rally.
Martinez was quick to back his prediction, adding that VET’s recent ascent closely resembles certain bullish markers, signaling its impending hike.
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VeChain: VET For The Win?
Furthering the conversation on X, Martinez pointed out the reasons backing his latest prediction. He added that VET is portraying a significant candlestick pattern that was first observed in 2020.
Clarifying his stance later, Martinez shared how VET is currently in the process of ending its consolidation phase, ready to deliver a solid start.
Martinez later shared a graph in his tweet that highlighted VET’s bullish price ascent in 2020. He noted how the candlestick pattern first observed in 2020 is now making a slight comeback.
Martinez then ended his analysis by adding that the token has recently concluded its 644 days of consolidation.
Per the on-chain analyst, this could again trigger a bullish run for the token, given the fact that it continues its robust progress ahead.
Why is The Cryptocurrency Trending?
VeChain has acquired incredible momentum as of late. At press time, the token is sitting at $0.04606, up 3.95% in the last 24 hours.
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VeChain is dubbed a versatile layer 1 smart contract platform. The platform intends to revolutionize the sectors of medical, energy, food and beverage, and other supply chain-centric enterprises by cultivating a seamless data flow.
The platform is particularly known for its enterprise supply chain product that traces shipped goods. Such diverse use cases deliver considerable strength to VeChain. It also brings in significant use cases for the token to surge and gain prominence in the crypto market.