VeChain (Up 34%) Breakout Confirmed As Coin Sets New All Time High

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Last Updated on 4 January 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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We don’t often do technical analysis here at CryptoTips as we don’t wanna get slammed if we get it wrong, but in the case of VeChain last week we couldn’t be helped.

First up, allow us to remind you all that you should always do your own research and that technical analysis should serve as a setup and not as a confirmation that something is going to happen. All it does is tell you that something is possible based on historical patterns, not that it will happen.

In the case of VeChain, we told you on 29 December 2020 that two famed technical analysts were foreseeing the possibility of a breakout on that chart and that Lunarcrush, the company that tracks social media chatter for the world of crypto, noticed a top ten spot for VeChain.

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Billionaire investors

Given that VeChain is still a smaller altcoin, that were all some very good signs.

Our exact words:

VeChain is up 13% today and 26% in a week. These two technical analysts think that VeChain might be a good bet in 2021.

By now, that forecast combined with the social media chatter have paid off and VeChain hit a new all time high of $0,027, up 34% for the week. And yes, we mean an all-time high after the rebrand.

Billionaire investors like Tim Draper and Jim Breyer, who both carry the altcoin in their portfolio, might be telling some of their friends about this rise soon. The year has started very well for one of our favorite small coins.

Oh and if any VeChain fans want to send us stories which we can’t seem to find, please fill out the comments below. We’ll gladly cover next time.