VeChain (VET) Prepares for Bullish Momentum Amid Chart Formations

• VeChain chart formations spark enthusiasm in the VeFam community.
• Analysts foresee upward movement bebore VET’s 7% rise in under 24 hours.
• VeFam eagerly awaits potential catalyst for VET’s surge.

The VeChain community, affectionately known as VeFam, is buzzing with anticipation as the native cryptocurrency, VET, shows promising chart formations. Analysts are signaling an imminent upward movement, prompting enthusiasts to ready their VET holdings for potential rewards.

On the 4HR #Vechain has printed an inverse H&S inside an obvious Bull Flag. Just saying…This typically brings upward movement. We’ll see 👀👇#VET $VET #VeFam #VTHO pic.twitter.com/9IOvPTfMwq

— Mike Stoffer (@mstoffer) February 24, 2024

One crypto trader and analyst points to an inverse head and shoulders (H&S) pattern on the 4-hour chart, indicating a bullish flag formation. Traditionally, this pattern suggests a forthcoming upward trajectory. The ongoin surge in VET’s price, up by 7% in the last 24 hours according to CoinGecko analytics, adds fuel to the optimism.

Another trader tells the VeChain and crypto community to brace for impact as the charts dictate VET to be ready for a massive upward movement. Both predictions were made before VET began its most recent surge.

VET’s recent performance, boasting a 30% increase while its counterpart, VTHO, surged over 100%, has the community speculating on the potential to surpass its previous all-time high (ATH) of 0.2. VeChain’s strategic partnerships and a surge in blockchain transactions contribute to the growing recognition during this bullish cycle.

The VeFam reflects the enthusiasm of the analysts by responding with bullish comments and pride at the blockchain finally gaining more recognition. In particularl, the community is eager to hear from the CEO of VeChain, Sunny Lu. Lu is expected to make a significant announcement at the end of the month.

The community is hopeful that this announcement could serve as a catalyst to propel VET beyond its ATH. With new developments, partnerships, and increased blockchain activity, VeChain stands at the forefront of blockchain innovation, gaining attention from developers and investors alike. As the surge continues, the VeFam eagerly awaits to witness how far VET can climb in the current market conditions.

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