VET Eyes $0.1: Is a New All-Time High Around The Corner?

VeChain’s VET is lighting the charts in green fueled by strong investor confidence and bullish momentum. As one of two native tokens of VeChain, it is poised for a major price rise. Since November, the coin’s price has been steadily climbing without showing any signs of slowing down. If VET continues this trend, then it is only a matter of time before the coin crosses the $0.1 milestone. There is also a slight possibility for the coin to break the resistance at $0.2.   

At press time, VeChain has a price of $0.07009, marking a 7.46% surge in the last 24-hours, with a market cap of $5.66B. Over the past seven days, the coin’s price has increased by 70.74%, and in the past month, it has hiked by 252.34%. This strong growth in value indicates investors’ confidence in the future of the coin. 

The total futures Open Interest (OI) for VET across all exchanges stands at 2.17 billion VET, with an OI value of $153.13 million and an OI Change (24h) of 3.46%, according to Coinglass. Top crypto exchanges like Binance, Bitget, and Bybit have a positive 24-hour OI Change of 1.16%, 9.39%, and 1.03% and OI volume (24h) of 0.1639, 0.0909, and 0.6547 respectively. These figures indicate soaring interest among investors and increasing market activity, suggesting a bullish sentiment for VET in the futures market.

This is consistent with data from the Aggregated Orderbook liquidity Chart in a 12-hour timeframe and futures trading. The number of investors bidding to buy VET is around 1.83M, which is higher than the 1.12M investors asking to sell the coin. This suggests a strong demand for VET, potentially signaling a bullish momentum as buying pressure is greater than selling interest.  

Based on the Fibonacci retracement levels displayed in the chart, VET is currently trading below the 0.5 level. The next resistance level is at 0.5 level and if it breaks through this resistance it could reach an all-time high around 0.28021. The Fib retracement levels indicate a strong bullish momentum and the breakthrough above the 0.5 level would reinforce investor confidence.  

VET token has been demonstrating massive growth backed by strong investor confidence and market activity. The steady upward momentum, growing futures open interest, and bullish orderbook liquidity chart, suggests that VET has the potential to break above the resistance levels and reach new highs.