Analysts In Unison See VeChain Trending Higher

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It is rare that you see multiple analysts all saying the same thing about a certain crypto coin, but in the past month of so, we haven’t heard anything bad about the price graph of VeChain, the small altcoin that proposes solutions in supply chain management.

In fact, ever since CryptoMich and Scott Melker both rang the bottom bell at 9 cents at around 30 September, VeChain has indeed gone in only one direction, namely steadily higher.

$VET is closing in on that big $0.155 resistance area. 👀#VET #VeChain #VeFam pic.twitter.com/7fquKtjQQX

— Justin Bennett (@JustinBennettFX) November 4, 2021

Now even one of VeChain’s biggest fanboys, technical analyst Justin Bennett, has chimed in as well, saying that the coin was:

Closing in on that big $0.155 resistance area. Close above that, and 0.19 is next.

Significant rally

Investing agreed with his analysis yesterday, stating that:

The current price of VeChain sets it up for a significant rally. As long as VET remains priced above the key levels of support at $0.133, the bulls are still on the radar. The target for VET will be a 22% rally toward $0.164.

In fact, Investing was proven right only a few hours later as that price target got hit, so now it just remains to be seen (in the short term) whether Justin’s target can be reached next.

$VET FACT : Today’s volume was not seen since several weeks almost $2.3 billions.#VET is gonna rock and All CT will be talking about it.#VeFam #VeChain

— Brain2jene💫 (@brain2jene) November 5, 2021

We have to admit that the moves of VeChain are not as explosive as some of the Metacoins we’ve discussed this week (or even the memecoins like Shiba Inu for that matter), but if analysts are to be believed, this might be a good sign.

The bottom bell sign that was called a month ago was thus far one of the best indicators we’ve seen all year. Always do your own research though.