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VeChain (VET): A Last Chance to Buy Before a Significant Price Surge?

VeChain: LAST CHANCE to BUY!
VeChain: LAST CHANCE to BUY!

VeChain (VET), a blockchain platform specializing in supply chain management, has experienced a notable price correction in recent weeks. However, JB believes this may be the last opportunity to buy VET before a significant price surge.

Recent Price Action and Correction

After a period of steady growth, VET underwent a correction, dropping to 2.07 cents on November 28th. This correction was followed by a healthy push to the upside, with VET reaching as high as 2.33 cents.

Structural Analysis and Technical Indicators

Examining VET’s structure reveals a five-wave move within a larger ABC structure. Additionally, technical indicators, including Stochastics, and 8-hour, daily, and weekly indicators, suggest an overbought market.

Potential Upside and Bearish Signs

Despite overbought signals, there’s a possibility of VET pushing higher to 2.56-2.71 cents. However, caution is advised, especially if the price breaks below 2.78 cents, indicating a potential top at 2.374 cents.

Short-Term Analysis and Weekly Close

Exploring possible scenarios, JB anticipates a retracement to 2.22 cents before an upward move. The weekly close is highlighted as a crucial factor, as it could trigger increased volatility.

Target Levels and Long-Term Perspective

Target levels include a fair value gap between 2.471 and 2.577 cents. From a long-term perspective, a potential pullback to around 1 cent is considered, presenting a significant buying opportunity.

Disclaimer and Life-Changing Opportunity

JB reminds viewers that the analysis is his opinion, not financial advice. Despite the short-term uncertainties, they express a bullish perspective on VET’s long-term potential, anticipating a last major pullback before a significant price surge.

Conclusion

Encouraging comments, likes, and subscribes, the article concludes with a positive outlook on VET’s future and a musical sign-off.

Additional Insights

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