Analyst Eyes Rally to $0.05

• VeChain’s accumulation phase strengthens as analysts highlight strong support near $0.05
• Network adoption surges with StarGate staking topping $125M and VeBetter passing 4M users
• Breaking $0.03875 could set VET’s path toward $0.05 and higher in the coming months

VeChain (VET), a prominent blockchain platform focused on supply chain and enterprise solutions, is gaining traction among analysts and investors alike. After facing a prolonged correction exceeding 70%, the asset now appears to be entering a critical accumulation phase. 

At current prices around $0.02447, VET presents an appealing risk-reward profile for investors looking to position themselves ahead of a potential market reversal. Encouraging technical patterns, increasing adoption metrics, and renewed interest in fundamentally strong altcoins all contribute to a cautiously optimistic outlook.

Analyst: VET Is “Significantly Undervalued”

Respected market analyst Michaël van de Poppe believes the broader altcoin market remains deeply undervalued. He highlights VeChain as a prime example of this disconnect. 

With recent developments like the launch of StarGate staking already attracting over $125 million in VET and the VeBetter app surpassing 4 million users, network engagement is clearly growing. These fundamental milestones could fuel renewed investor interest as market sentiment improves.

VET’s fundamentals: This bullish chart comes on the back of real-world adoption. Here’s our report on VeChain’s partnership with BitGo.

“Double Bottom” Hints at a Reversal

From a technical standpoint, Van de Poppe points out a double bottom formation between $0.0135 and $0.0153, which signals strong support and accumulation at those levels. 

If this structure holds and a breakout occurs, Fibonacci projections suggest a target as high as $0.12 in a bullish cycle. The current macroeconomic divergence from crypto fundamentals could mean that VET remains significantly undervalued at these levels.

Steady Momentum Building Above Key Support

Echoing similar optimism, analyst Brain2jene notes that VET appears to be stabilizing around the $0.022–$0.023 support zone. A recent breakout from a downtrend line, followed by a successful retest of support, suggests that upward momentum could be building. 

If the trend continues, VET may soon challenge resistance levels at $0.03875 and $0.04614. Breaking through these levels could open a path to $0.05 and beyond in the coming months.

The MACD currently shows bearish momentum, but a possible reversal is in sight as the MACD and signal lines converge. Meanwhile, the RSI sits at 51.21 squarely in neutral territory suggesting market indecision but also a potential pivot point for a trend shift.

Is there a consensus? Van de Poppe isn’t the only one seeing this. CoinEdition previously covered another analyst eyeing VET’s 300% rally.