- The monthly chart of VET highlighted a classic Cup & Handle pattern, a formation often associated with bullish momentum.
- If the index shifts toward “extreme greed,” it may coincide with VET surpassing the $0.16515 mid-term target.
VeChain [VET] is generating buzz due to its possible escape from a promising “Cup & Handle” setup, which usually signals robust uptrend, possibly marking the commencement of an upsurge in the market.
Looking ahead, the digital currency VET seems primed for substantial growth in the near future as it aims toward a long-term value of approximately $0.44240.
Cup & Handle pattern
The monthly graph for VET showed a typical Cup & Handle configuration, which is usually linked with strong upward movement.
As a crypto investor, I’ve noticed that following a lengthy downtrend, a distinct shape known as a “cup” forms, which is characterized by a rounded base. After this cup formation, a period of relatively calm price action, or the “handle,” follows. This handle phase often signals a build-up of energy before a potential breakout in the opposite direction.
Currently, at the moment of reporting, VeChain (VET) is close to $0.05074 in trading, having successfully breached the resistance level set by its price handle, which suggests a possible upward trend ahead.
In simpler terms, the mid-term goals for VET are expected to reach approximately $0.113 and might even go up to $0.165, whereas its long-term forecasts predict potential prices as high as $0.442.
In historical context, the breakout points for the Cup & Handle pattern tend to coincide with revitalized investor attention, higher trading activity, and involvement of institutional investors.
Based on VeChain’s robust foundations, this technical configuration increases the probability that the upward trend will continue.
Moving forward, I see the significant resistance level at around $0.09604 for VeChain (VET). If we manage to break through this barrier with robust trading volume, it might propel us towards the $0.14441 zone.
Traders should monitor volume spikes and RSI levels for confirmation of momentum strength.
Social dominance analysis
In recent times, there’s been a significant surge in the popularity of VET (VeChain Thor) within trading and investment circles, demonstrating increased attention from both traders and investors.
As a crypto investor, I find this development consistent with the Cup & Handle breakout pattern that’s visible on VeChain’s chart. It’s particularly exciting because it aligns with the broader story of VeChain’s role as a leading solution for supply chain management, which adds credibility to its potential growth trajectory.
It’s commonly understood that an increase in Social Dominance (or popularity) tends to come before price surges in alternative cryptocurrencies. This is because heightened interest usually leads to more investment money flowing in.
For vocational education and training (VET), the introduction of projects such as VeBetterDAO and B3TR incentive programs has sparked debates on its future prospects.
As the appeal of rewards centered around sustainability grows, there’s been an increase in people taking notice of VET, making it a subject of discussion in both cryptocurrency and practical applications.
According to current analysis, if the value of VET surpasses its resistance at $0.09604, it’s likely that its social dominance may increase even more, as suggested by the technical data.
Continued development in this sector might indicate an expanding group of owners, dealers, and users – a vital element that could foster long-term increases in value.
A significant drop in Social Dominance not accompanied by an uptick in prices might signal decreasing enthusiasm, possibly causing temporary adjustments or corrections.
If Social Dominance is associated with higher trading volumes and a favorable market sentiment, it’s possible that the price of VET could surge towards its mid-term goal of around 0.11300 USD.
Greed & Fear Index analysis
The Greed and Fear Index frequently offers useful perspectives on the emotional condition of market players, enabling traders to predict possible price changes by foreseeing potential shifts in trend.
As an analyst, I’m observing that the sentiment in the cryptocurrency market leans towards “moderate optimism,” suggesting a mix of caution and anticipation among investors.
VET’s position within a bullish Cup & Handle formation aligns with this sentiment.
Favorable or moderately competitive market situations frequently lay the groundwork for continuous price increase, since participants aren’t unduly optimistic or terrified.
This setup fosters a harmonious context, allowing assets such as VET to rise gradually, avoiding sudden adjustments or corrections.
If the index moves towards “high optimism,” it could align with VET potentially reaching its intermediate goal of $0.16515.
On the other hand, excessive greed is typically a warning signal, frequently indicating impending actions such as cashing out profits and temporary market declines.
However, an abrupt change leading to fear might originate from unexpected market turbulence, which could postpone $VET reaching its long-term goals.
If the market experiences sudden shocks, it could make us fearful and delay $VET’s progress towards its long-term objectives.
To make informed trading decisions, consider the confluence of Greed & Fear Index readings, VET’s trading volume, and RSI trends. If a persistent optimistic outlook is accompanied by an increase in trading volume, it might drive VET closer to its long-term goal price of $0.44240.
Open Interest analysis
Over recent weeks, there’s been a noticeable rise in Open Interest for VET, with a significant surge occurring as the price approached the potential resistance level near $0.05074.
The rise in Open Interest (OI) implies that both individual and institutional investors are preparing for potential substantial price fluctuations by assuming positions, in expectation of a significant market shift.
As a researcher, I’ve noticed an intriguing pattern: When On-chain Indicators (OI) increase and there’s an upward price trend, it often indicates robust bullish momentum. For Verge Coin (VET), this observation aligns with the technical analysis’s Cup & Handle breakout hypothesis.
Keep in mind that when open interest (OI) rises but the price remains stationary or falls, it might suggest speculative trading. Such situations could potentially trigger a squeeze due to the high number of positions.
As VeChain (VET) nears its midpoint goal of $0.09604, an increase in Open Interest (OI) might signal increasing investor confidence in the breakout’s validity.
If OI decreases prior to the price hitting crucial goals, this might indicate that investors are taking profits or feeling uncertain, which suggests a need to reconsider near-term trading tactics.
As a crypto investor, I find it encouraging that the continued expansion of Open Interest signals a strong possibility for VeChain ($VET) to reach its long-term goals.
VeChain emerges as a notable cryptocurrency, boasting impressive growth prospects backed by a combination of technical and intrinsic elements.
On the monthly chart, the bullish “Cup & Handle” pattern suggests an imminent surge, potentially leading to two intermediate targets at approximately $0.11300 and $0.16515. In the long run, there’s a possibility of reaching as high as $0.44240.
Measures such as Open Interest highlight the asset’s increasing potency, suggesting increased involvement in the market and potential underpricing compared to its value.
Additionally, the concept of Social Dominance and the equilibrium in general market attitudes, as indicated by the Greed & Fear Index, lends credence to VET’s position as a trailblazer in blockchain technology.
Read VeChain’s [VET] Price Prediction 2025–2026
VeChain’s unique offerings like VeBetterDAO and eco-conscious token incentives are making it an intriguing choice for traders and investors, placing $VET high on the list of assets to closely monitor in the years leading up to 2025.
If the ongoing trend continues, VET might spearhead the upcoming altcoin surge, solidifying its position as a significant figure in the rapidly advancing blockchain landscape.
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2025-01-05 16:09