VeChain’s VET Surges 15% in a Month—$0.030 in Sight or Just Crypto Hopium?
VeChain’s native token VET is riding a bullish wave, clocking a 15% gain over the past 30 days. Supply chain crypto plays are back in vogue—or at least this one is.
Can the rally hold? Traders are eyeing the $0.030 resistance level like Wall Street analysts eyeing a bonus pool. Spoiler: Both usually end in tears.
Key drivers: Mainnet upgrades, enterprise adoption rumors, and the eternal crypto narrative of ’this time it’s different.’
Bottom line: If VET clears $0.030 this week, the moonboys win. If not? Another ’accumulation phase’ (read: bagholder purgatory) awaits.
Source: CoinGecko
Cryptocurrencies Hold Steady
The crypto market seems to be entering a sideways trajectory. Bitcoin (BTC) is facing substantial resistance at the $97,000 level. VET is facing some resistance at the $0.027 level.
The recent market rally is likely fueled by institutional investors. BlackRock purchased more than $3 billion worth of BTC since Apr. 22. Retail investor participation is likely very low right now. Investor confidence has still not recovered to pre-tariff levels.
VeChain’s (VET) recovery is likely due to Bitcoin (BTC) reclaiming the $95,000 level after its recent dip to sub-$75,000 levels.
The crypto market has also seen some other bullish developments. The SEC has appointed Paul Atkins, a pro-Bitcoin candidate, as its head. Atkins will likely take a more lenient approach to the crypto industry than previous head, Gary Gensler.
Can VeChain Hit $0.030 This Week?
CoinCodex is anticipated to rally slightly over the coming days. The platform anticipates the asset to trade at $0.026 on Apr. 12. Hitting $0.026 from current levels will entail a rally of about 4%. CoinCodex does not anticipate VET’s price to hold above $0.025. The platform predicts a dip to $0.019 on Apr. 24.
There is also a possibility that VeChain (VET) will rally higher than CoinCodex anticipates. The Federal Reserve may cut interest rates soon. A rate cut could lead to a surge in risky investments, such as cryptocurrencies.
