VeChain Price Jumps 12% on Coinbase Listing, But Faces Key Resistance at $0.016

VeChain (VET) price jumped 12% after Coinbase announced it would list the token. The price needs to break past resistance at $0.016 to confirm a bullish trend reversal.
VET is trading just above key support at $0.016. Failing to hold this level could lead to a 35% drop, while reclaiming it could trigger an 80% surge.
The VET price action has formed a double bottom pattern, which is typically bullish. This is supported by bullish RSI divergence.
Breaking past descending resistance at $0.016 would confirm the double bottom pattern and suggest a move to $0.028.
If VET holds support at $0.016, the price prediction is for an 85% increase. Getting rejected could lead to a 35% decline.

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Posted 9/13/2023, 12:46:55 PM