VeChain Surges on Price Breakout – Possible Retest for Buy-In

Cryptocurrency by Sal Miah  | 1 week ago
2 min read

VeChain investors must be happy following the gains the cryptocurrency has made in the past few days. The rise in price has taken VeChain to the next level in what may be the final surge of the year.

With its current surge, VeChain is reclaiming value it had lost during the tough 2019 market.

Having broken its falling trend in Sept and starting a new rising trend in Nov, VeChain is now on a new path that may lead to buy-in the retest. The breakout in Mid Sept was especially crucial for its resurgence as it gave the market time to accumulate.

Currently, intraday traders are enjoying the perks of daily price fluctuations as the price of VeChain surges daily.

Breaking Resistance

Despite its current trend, VeChain is nowhere close to its 2019 high. This can, however, change if the cryptocurrency can break resistance, which will likely lead to greater returns for traders.

If VeChain breaks resistance, then it falls within earlier predictions, which indicated that the narrow trading observed from around Aug to late Oct was the cryptocurrency consolidating before its price surged.

VeChain is a Project to Watch Out for

Various factors are currently working on VeChain’s favor, which may see its value increase even higher in the coming days. The company has enjoyed successful partnerships that are attractive to investors.

Having partnered with Walmart earlier in the year, the platform’s Thor blockchain will release and host the Microsoft-backed 1980’s gamebook, ‘The Way of the Tiger.’ A successful release of the gamebook will lead to a higher VeChain price.

 

Featured Image Source: CryptoFinance24