Analyst Starts VeChain (VET) Accumulation Based on This Bullish Signal

CrediBULL Crypto, a well-followed technical analyst, has begun accumulating VeChain (VET) as a “till end of cycle” hold, based purely on chart structure. In a recent post on X, he explained that VET printed a clean five-wave impulse more than a year ago, and he now believes the subsequent corrective Wave 2 is nearing completion

If accurate, this sets the stage for an explosive Wave 3 move, often the most powerful leg in Elliott Wave theory.

To support his conviction, CrediBULL compared the structure to Bitcoin’s historic $3K bottom, noting that the last time he observed such a clean impulse was just before BTC launched into its multi-year rally from those lows.

VET Price Overview and Market Snapshot

As of report time, VeChain (VET) is trading at $0.02410, down roughly 4.5% over the past 24 hours. The token is also down nearly 10% on the weekly chart. VET’s market cap stands at approximately $2.07 billion, with a circulating supply of about 86 billion tokens and a maximum supply of 86.71 billion. Daily trading volume fluctuates between $60 million and $70 million, showing modest but consistent market activity.

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Technical indicators currently paint a bearish short-term picture. VET is rated as a “Strong Sell” across most metrics. The Relative Strength Index (RSI) is hovering near 34, suggesting oversold conditions, while moving averages and momentum indicators continue to flash red. However, these technical weaknesses may reinforce CrediBULL’s thesis that Wave 2 is ending and VET could be preparing for a reversal.

Wave Theory Outlook: Correction Nears Completion

Recent Elliott Wave analysis on FXStreet aligns with CrediBULL’s view. It shows that VeChain is nearing the end of a complex double-corrective pattern, known as Wave II. Analysts project the final drop could touch the $0.020–$0.018 region before a potential breakout. If the price falls below $0.017, however, the wave count would be invalidated.

The original impulse was notably clean, which is key in Elliott Wave setups. With corrective waves typically marked by overlapping and choppy movement, the current formation suggests the worst of the retracement may be behind.

Tactical Positioning and Risk Consideration

CrediBULL emphasizes that this is a purely technical play, not based on VeChain’s enterprise partnerships or fundamentals. He’s positioning VET as a swing hold through the remainder of the cycle, with the expectation that a completed correction will ignite Wave 3, a leg typically marked by aggressive upside and sustained buying pressure.

That said, risk management is crucial. A drop below the $0.017 level would invalidate the setup. Traders watching this play may look for bullish reversal signals like RSI divergence, volume spikes, or a clear five-wave recovery to confirm the start of a new uptrend.

VET Poised for Next Leg?

CrediBULL Crypto’s decision to start accumulating VET reflects confidence in a textbook Elliott Wave setup. With price sitting near $0.024 and signs pointing toward a completed correction, VET may be approaching the launchpad for its next major move. If Wave 3 begins soon, this quiet accumulation phase could lead to substantial upside in the weeks and months ahead.

Disclaimer***:*** This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.