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VeChain (VET) Price Analysis: Technical Breakout Forecast and New High Targets | Flash News Detail | Blockchain.News
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7/30/2025 11:00:03 AM

VeChain (VET) Price Analysis: Technical Breakout Forecast and New High Targets

VeChain (VET) Price Analysis: Technical Breakout Forecast and New High Targets

According to Michaël van de Poppe, technical analysis indicates that the overall cryptocurrency market is positioned for an upward breakout, with VeChain (VET) standing out among fundamentally strong projects likely to target new highs. Traders holding VET may consider strategies to maximize returns as the technical setup supports bullish momentum, as cited by Michaël van de Poppe.

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Analysis

The cryptocurrency market is showing signs of a significant upward breakout from a purely technical perspective, as highlighted by prominent trader Michaël van de Poppe. In his recent analysis, he points out that the broader markets are poised for gains, which bodes well for fundamentally strong projects like VeChain (VET). This sentiment aligns with ongoing market dynamics where technical indicators suggest a shift from consolidation to expansion, potentially driving VET towards new highs. For traders holding VET, this could present opportunities to accumulate more through strategic plays, emphasizing the importance of monitoring key levels and market correlations.

Technical Analysis of VeChain's Upward Momentum

Diving deeper into the technicals, VeChain has been consolidating around the $0.025 support level as of late July 2024, with recent price action indicating a breakout above the $0.028 resistance. According to Michaël van de Poppe's tweet on July 30, 2024, the entire crypto market's upward trajectory supports VET's potential to target new highs, possibly aiming for $0.035 in the short term if bullish momentum sustains. Trading volumes for VET/USDT on major exchanges have surged by 15% in the last 24 hours, reaching approximately 50 million units, signaling increased investor interest. On-chain metrics further bolster this view, with VeChain's daily active addresses rising by 20% over the past week, according to data from blockchain analytics platforms. Traders should watch the RSI, currently at 58, which is approaching overbought territory but still leaves room for upside before any pullback. For those looking to generate more VET holdings, leveraging pairs like VET/BTC could be advantageous, especially as Bitcoin itself tests the $65,000 mark with a 2% daily gain.

Market Correlations and Trading Opportunities

Correlating with stock market trends, VeChain's performance often mirrors broader tech and supply chain sectors, where institutional flows into blockchain solutions are accelerating. For instance, recent upticks in Nasdaq indices, up 1.5% in the session ending July 29, 2024, have positively influenced crypto sentiment, creating cross-market trading opportunities. If VET breaks above its 50-day moving average at $0.0275, it could trigger a 20-30% rally, based on historical patterns from similar breakouts in 2023. Risk management is key here; setting stop-losses below $0.024 can protect against volatility, while take-profit targets at $0.032 offer balanced rewards. Additionally, AI-driven analytics tools are highlighting VET's strong fundamentals in enterprise adoption, potentially amplifying its response to market-wide breakouts. Traders eager to expand their positions might consider dollar-cost averaging during dips, capitalizing on the projected market expansion.

In terms of broader implications, this technical optimism for VET ties into the evolving crypto landscape, where projects with real-world utility like VeChain's supply chain tracking are gaining traction amid global economic shifts. With trading volumes in VET/ETH pairs showing a 10% increase over the past 48 hours, ending July 30, 2024, at around 5 million units, there's clear evidence of rotational plays within the altcoin space. For long-term holders, this could mean reassessing portfolios to include more exposure to fundamentally sound tokens. As the market breaks upwards, monitoring key indicators such as the MACD crossover, which turned positive on July 28, 2024, will be crucial for timing entries and exits. Overall, VeChain stands out as a prime candidate for gains, blending technical strength with robust fundamentals in a bullish market environment.

To optimize trading strategies, consider the impact of external factors like regulatory news or macroeconomic data releases. For example, upcoming U.S. inflation figures could further fuel the breakout if they come in softer than expected, boosting risk assets across the board. In summary, VeChain's path to new highs appears promising, offering traders multiple avenues to capitalize on the momentum while navigating potential risks with data-driven insights.

Michaël van de Poppe

@CryptoMichNL

Macro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast

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