The value of VeChain (VET) rose sharply on Wednesday, January 5, after an extended time in which the digital asset remained relatively flat despite other cryptocurrencies seeing some kind of market recovery.
In response, leading cryptocurrency trading expert, Michael van de Poppe has shared his opinions on the digital asset, which he believes is exhibiting signs of a big upward movement. The prominent trader revealed that “$VET is ready to move hard” on Twitter as he gave his latest prediction for the versatile enterprise-grade L1 smart contract platform.
“The price usually chops around for a while to test all the levels. In such an accumulation period, it takes time for a breakout to happen, but when it does. Fibonacci extension comes into play. Therefore, some more sideways action within this white block reminds me heavily of the previous accumulation period,” he said.