Top Chartist Shows Why VeChain (VET) Reaching $1.6 Is A Realistic Objective

Per a recent tweet making rounds in the crypto sphere, renowned crypto chartist Egrag Crypto remains confident about the VeChain (VET) potential for expansion. 

Quoting one of his previous tweets in April, where he projected VET to reach $1.6, Egrag reassured his teeming followers about the propensity of the price prediction still playing out against all odds.

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Egrag’s latest projections were based on price trajectory, which he tagged “Move B.” Worthy of mention is the fact that another price trajectory dubbed “Move A” exists. It played out between 2018 and 2019, orchestrating Move B in March 2020, which saw VET spike from $0.00143 to its all-time high (ATH) of $0.27 in April 2021.

Move A And Move B Will Orchestrate VET’s New ATH

Egrag made an analogy of the above scenarios, noting that VET is seeking means to replicate the price movements in Move A. He added that it would bring VET’s price around the $0.90 mark, implying a 233% surge from the coin’s current ATH. 

For Move B, Egrag noted that replicating the price trajectory will catalyze VET to the highly speculated $1.6 price level, a 492% increase from the coin’s present ATH. Notedly, the $1.6 projected price target parallels the Fibonacci at 1.618. 

VeChain (VET) Key Resistance Levels

The Fibonacci level at VET’s ATH of $0.27 was fixed at 1, breaking above the price would imply a surge of about 671.4% from VET’s current price of approximately $0.035.

Breaking through the above price level will usher in a new resistance at the $0.6704 price level, with the Fibonacci resting at 1.272.

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Exceeding the above resistance will orchestrate Move A market movements replication to send VET to $0.91. This target is the final resistance that once beaten, will trigger the token’s ascent to the projected $1.6.

Meanwhile, in one of our recent articles, VET is projected to attain prices of around $2.3. Notably, This bold analysis is also from Egrag Crypto. His two price predictions seem not similar.

However, the projected prices are not far apart as both could easily be approximated to $2. VeChain enthusiasts are waiting to see how soon these bullish price predictions will happen.

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