🚀 **VeChain (VET) Eyes $0.050 as Falling Wedge Breakout Looms!** 🚀
With Bitcoin reclaiming $87K, altcoins like **VeChain (VET)** are heating up! VET surged **5% in 24 hours**, trading at **$0.02647** (MC: $2.27B). Is a **2x rally** incoming? Let’s break it down!
### 📉 **Technical Setup: Falling Wedge Pattern**
- **Downtrend since early 2023**: VET dropped **75%** from $0.080 to $0.01873.
- **Falling Wedge Formation**: A bullish reversal pattern signaling momentum buildup despite bearish trends.
- **Breaking Resistance?** Today’s **bullish engulfing candle** challenges the wedge’s upper trendline.
### 📊 **Key Indicators**
- **Bollinger Bands**: Price near upper band ($0.02898), hinting at volatility.
- **DMI Indicator**: Potential **+DI/-DI crossover** suggests bullish momentum.
- **ADX Line**: Weak trend strength (ADX at 18) but reversal hopes rising.
### 🎯 **Price Targets**
- **Short-Term**: Breakout could target **$0.03177** (78.6% Fib level).
- **Mid-Term**: Rally to **$0.050** (50% Fib) possible if BTC and altseason fuel momentum.
- **Support Levels**: $0.02254 (lower Bollinger Band) and $0.020 (psych level).
### 💡 **Why Watch VET?**
- Falling wedge breakouts often lead to **sharp upward moves**.
- Bitcoin’s stability above $87K may trigger altcoin liquidity rotation.
- Rising social sentiment and trading volume signal growing interest.
⚠️ **Disclaimer**: *This content is for informational purposes only. Always conduct your own research before investing. The Crypto Basic is not responsible for financial losses.*
**Will VeChain smash $0.050?** 👀 Share your thoughts below! ⬇️