Crypto analyst David expects a 30 percent move from VET. The analyst with the pseudonym Rekt Capital predicts that the leading altcoin Ethereum and a rival will rise strongly.
VET price prediction: Altcoin broke the long-term formation!
VeChain (VET) price has been trading within a descending parallel channel since May 2022. This is a bullish pattern that leads to a breakout in most cases. Indeed, after moving within the channel for 80 weeks, the VET price broke above the channel during the week of December 11-17. The following week, the altcoin price confirmed the resistance of the channel as support (green arrow). Thus, it showed that a new uptrend had begun.
Meanwhile, the weekly RSI (Relative Strength Index) for the altcoin has entered the overbought territory. This shows an upward trend, supporting the continuation of the upward trend. Since the parallel channel has existed for 80 weeks, the post-breakout move could be strong. Therefore, it is possible for VET price to rise to the next resistance level at $0.045. This target means VET will rise another 30.72% from the current price.
The most likely scenario suggests that VET price will continue to rise to $0.045 in the near future. However, a correction to $0.03 is possible before resuming the uptrend.
ETH price prediction: 20% upside on the cards for the leading altcoin!
A closely followed crypto analyst with the pseudonym Rekt Capital says Ethereum (ETH) is poised for a big rally next year, following its December rally. The analyst talks about the importance of Ethereum ending December above the key $2,274 resistance level. In this case, the leader says that the altcoin price is ready for an increase of over 20%. The analyst shares a chart showing ETH retesting $2,274 as support before sparking a rally towards $2,791.
Meanwhile, during the summer, Ethereum was trading at $2,331, up 1.7% on a daily basis. cryptokoin.comAs you follow from , the leading altcoin increased by 2.3% on its weekly chart and 9.83% on its monthly chart.
EGLD price prediction: $85 on target!
The analyst also closely follows leading altcoin Ethereum rival MultiversX (EGLD). Rekt Capital sees EGLD rising to $85.46 after breaking out of resistance at around $60. In this context, the analyst makes the following statement:
EGLD continues to perform well. First, it took back the orange area as support. Then it took back the red area as support. Now he follows the black path. Dips into red = healthy but may not happen.
Meanwhile, at the time of writing, EGLD was trading at $71, up 1.6% on a daily basis. While the altcoin was in the red zone by 2.9% on its weekly chart, it gained 54.5% in value on its monthly chart.
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