Vechain price showed a significant break from a bullish wedge pattern on the 4-hour chart. The digital asset has a price target of $ 0.096 in the long run as it now faces weak resistance. VET bears still have a chance to come back if they can get past the key support level. Vechain continues to leave the market behind. The digital asset may have a higher target up to $ 0.096 in the long run.
Vechain price not facing resistance above $ 0.08
On the 4-hour chart, Vechain price just came out of a bullish wedge model with a price target of $ 0.096. This 30% break is calculated using the height of the model as a reference point from the start of the model’s upper trendline to the start of the lower trendline.
Given that these are all-time highs for Vechain, the digital asset faces almost no real resistance as long as it can hold the previous resistance trendline.
To invalidate the bullish target, the bears will need to push the Vechain price below the previous resistance trendline of $ 0.0745. This could lower the VET from $ 0.07 to the lower trendline at first, and to $ 0.051 if it fails to hold that level.