VeChain surges past $0.025 as it breaks out of a falling wedge pattern. Could this bullish momentum push the price toward the $0.050 target?
With Bitcoin reclaiming $85k amid renewed institutional interest, altcoins are staging a strong comeback. Among them, VeChain (VET) is showing signs of a powerful breakout, fueled by a technical pattern reversal and improving market sentiment.
After a sharp overnight rally and sustained intraday gains, the VET price chart confirms a falling wedge breakout. But can this rally sustain enough to reach $0.050?
## **VeChain Token Price Analysis**
The daily chart for VeChain reveals a decisive breakout from a descending resistance trendline, completing a falling wedge pattern. This follows a prolonged downtrend that saw VET drop nearly 65% from its recent high of $0.045 to $0.015.
The recent rebound, including a 15% surge in the past 24 hours, has solidified the breakout. Currently, VeChain is trading at $0.027, up 5% intraday, signaling strong bullish momentum.
Key technical indicators support the uptrend:
- The **MACD** is showing a bullish crossover, with the histogram turning positive.
- The **RSI** has jumped from oversold territory to 55, indicating growing buying pressure.
## **VET Price Targets**
With the falling wedge breakout confirmed, VeChain has cleared the $0.025 resistance level. Based on Fibonacci extensions, the next major target lies at the 1.618 level near **$0.050**, representing a potential **85% upside** from current levels.
If Bitcoin maintains its upward trajectory and altcoin season intensifies, VeChain could outperform many peers, given its strong technical setup.
## **Analyst Predicts Major Rally for VeChain, Eyes $0.10**
Crypto analyst **James Mullarney** has highlighted VeChain’s bullish reversal on higher timeframes, pointing to a critical support zone around **$0.020–$0.025**. The recent bounce from this level suggests a strong foundation for further gains.
In a recent tweet, Mullarney also emphasized VeChain’s growing adoption in enterprise blockchain solutions, particularly in supply chain and sustainability sectors. With increasing regulatory clarity in key markets, institutional interest in VET could drive long-term price appreciation.
According to his analysis, if VeChain holds above $0.025, the next major resistance sits at **$0.074**, with an extended target of **$0.10** in a full-blown bull market.
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**Disclaimer:**
This content is for informational purposes only and should not be considered financial advice. The views expressed are the author’s own and do not necessarily reflect the stance of *The Crypto Gazette*. Readers should conduct their own research before making investment decisions.