While China-based altcoins have a special place among investors, they seem to have experienced good rises with the agreements and partnerships they made.
They are strengthening their positions by being listed on leading cryptocurrency exchanges such as Binance and Coinbase.
At this point, one of these altcoins is VeChain (VET), which was listed by Coinbase in September.
VET, which rose as high as $0.28 in the 2021 bull, is trading nearly 90% below its ATH.
Evaluating VET, popular analyst Ali Martinez argued that VET is in the consolidation phase and may be ready to explode.
At this point, the analyst pointed out that VET was experiencing the same consolidation phase seen in 2018-2020 and said that VET could achieve a tremendous rise in a short time.
According to the analyst, if history repeats itself, VET could surpass the $0.033 resistance level in the next two weeks and rise to $0.077 by the end of January.
This increase means a 150% increase for VET.
“VeChain appears to be reflecting the consolidation phase we saw in 2018-2020!
If so, VET could break the $0.033 resistance barrier in the next two weeks. This bullish VET could reach $0.077 by the end of January. This means a 150 percent price increase.”
VET continues to trade at $0.0294 at the time of writing.
#VeChain, the forgotten Chinese #Ethereum, appears to mirror the consolidation phase we saw in 2018-2020!
If so, $VET could break through the $0.033 resistance barrier within the next two weeks. The upswing could send #VET to $0.077 by late January. That's a 150% price increase! pic.twitter.com/5E2g76H7yG
— Ali (@ali_charts) December 15, 2023
*This is not investment advice.
