Crypto enthusiasts are discussing VeChain ($VET) after an analysis by CryptoBusy indicates a potential trend reversal.
Double Bottom Formation
A classic double bottom pattern is emerging on the $VET chart, suggesting a possible reversal from its downtrend. This pattern is marked by two distinct lows, signaling a potential significant upward move if it breaks the $0.03 resistance level.
Galactica Upgrade and Its Significance
The Galactica upgrade, scheduled for July 1, 2025, is expected to boost VeChain's utility. It promises to enhance the ecosystem with cross-chain capabilities and staking incentives, which may drive further adoption.
Current Situation and Forecasts
On-chain activity for VeChain is rising, with mixed social sentiment among users. However, the current technical rating from TradingView indicates a 'strong sell' signal in the short term, advising investors to closely monitor price movements.
With the Galactica upgrade approaching, investor attention is focused on the possibility of VeChain breaking the $0.03 resistance level.
