Top crypto analyst on X known as World Of Charts, made some analysis about the potential price movements of VeChain (VET) and Dego Finance (DEGO). Both coins are on the verge of significant breakouts that could lead to substantial gains of 300%.
Both VeChain (VET) and Dego Finance (DEGO) are in pivotal moments in their market performance, with technical indicators playing key roles. For these assets, the ability to break through critical resistance levels is crucial for initiating a new bullish phase.
VeChain (VET) Analysis
VeChain continues to develop its enterprise blockchain platform, focusing on supply chain management and business solutions. The project maintains partnerships across industries while expanding its technical capabilities.
The platform’s development includes ongoing work on supply chain tracking, product verification, and data management tools. These technical fundamentals operate independently of short-term market movements or price considerations.
Key Breakout and Upside Potential
The analyst’s examination of the VeChain price action against USDT on a 3-day time frame reveals several key factors.
The chart shows a long-term descending trendline, indicating a bearish trend where the price has struggled to break above this line multiple times. A breakout above this trendline could signify a potential trend reversal, marking an important moment for the asset.
A horizontal resistance level near $0.041 has been identified as a significant barrier. The price has faced difficulties closing above this level in recent attempts, highlighting the need to break through this resistance to confirm upward momentum.
The analyst discusses the importance of a candle close above the resistance zone. If VET price closes above this level on a higher time frame, it could validate a bullish breakout, increasing the likelihood of further upward movement. However, without strong volume or confirmation, there is a risk of a false breakout.
A measured move projection suggests a potential price target of around $0.24, representing a possible gain of approximately 679%. This figure is based on technical analysis and aligns with previous price levels during the 2021 crypto bull market.
Dego Finance (DEGO) Analysis
The chart illustrates a long-term descending trendline, suggesting a persistent bearish structure. A potential breakout above this trendline may indicate a shift from a bearish to a bullish trend.
A horizontal resistance level around $2.50 has consistently capped DEGO price. A successful breakout above this zone is crucial for confirming the upward trend and attracting additional bullish momentum.
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Key Breakout Levels in Focus
The chart projects significant upside potential, with a target at $10, equating to a 344% gain from the breakout point. This projection may be based on previous DEGO price consolidation patterns and aligns with historical price levels during earlier market uptrends.
Dego Finance is currently testing both the descending trendline and the horizontal resistance zone, creating a critical decision point. A successful breakout above the resistance could confirm the initiation of a bullish trend.
