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VeChain Bear Market Outlook and Bull Market Predictions

VeChain VET: Can VET PUMP to over $1?
VeChain VET: Can VET PUMP to over $1?

VeChain is a blockchain platform designed to provide supply chain management and traceability solutions. It is currently in a bear market, but there is potential for a bull market rally in October.

Bear market outlook

VeChain is currently in a potential Z-Wave movement, with price levels between 1.1 and 1.5 cents. There is a possibility of a deeper move down to 0.00799 and 0.00970. The 200 EMA has been acting as resistance.

The bear market prediction suggests further downside, possibly testing around 1.1 cents. However, dollar-cost averaging below 1.5 cents is considered good value.

Bull market outlook

October is expected to have a bear market rally. In a bullish scenario, VeChain could see substantial gains, potentially reaching 1.43 USD. Key resistance levels are expected at 19.8 and 47.4 USD, with the goal of reaching 1 USD.

Long-term potential

The video highlights the positive aspects of VeChain’s fundamentals and potential for price appreciation in the long term. VeChain has a number of partnerships with major companies, including BMW, Walmart, and DNV. It is also being used by a number of governments to track and trace goods.

Investment strategy

Investors who are bullish on VeChain may want to consider dollar-cost averaging below 1.5 cents. This will help to reduce the overall risk of your investment. Investors should also be aware of the risks involved before investing in any cryptocurrency.

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