Why VeChain May Run Out Of Fuel After 90% Rally

VeChain has been able to preserve its current levels as the crypto market loses steam. The sector has seen a recent bullish price action which has led the price of VET and other digital assets to a yearly high. Related Reading | Why VeChain (VET) Could Be On The Verge Of A 40% Rally At the time of writing, VeChain (VET) trades at $0.083 with a 13% and 80% profit in the last day and 30-days, respectively, according to data from CoinGecko. Two weeks ago, NewsBTC reported a potential 40% rally for VeChain. Based on an analysis from Justin Bennett, the cryptocurrency was on the brick of breaking above a trend line which signaled potential appreciation. This trend line marked the beginning of a multi-month downtrend, and its reversal could take VeChain into the $0.10 price point. Therefore, Bennett called this move “significant in terms of the overall context of the market”. VeChain is yet to complete its full bullish trajectory into the $0.10 levels and beyond. However, it did manage to score a 90% rally, according to Bennett, destroying the market expectations of further downside: VET is the same project everyone on CT said was dead for months. +97% in 16 days is quite the move for a “dead” coin. Let that be a lesson for anyone who jumped on the CT bandwagon. Peak pessimism amongst the masses usually means a buying opportunity isn’t far away. The $0.080 point will be critical to determine if VeChain can sus...