Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move?

XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move?

CoinsProbeCoinsProbe2025/01/28 14:44
By:Nilesh Hembade

Date: Tue, Jan 28, 2025, 12:27 PM GMT

The cryptocurrency market is rebounding strongly after yesterday’s sharp downturn, with Bitcoin (BTC) recovering from its 24-hour low of $97,795 to its current price of $102,700. This upward movement has positively impacted major altcoins, including XDC Network (XDC), Stellar (XLM), and VeChain (VET).

Among these, XDC and XLM have led the charge with impressive gains of 17% and 6%, respectively, following key breakout patterns. Meanwhile, VET is up 2%, signaling that it could be preparing for a similar move.

XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move? image 0 Source: Coinmarketcap

XDC Network (XDC)

XDC has displayed strong price action after breaking out of a falling wedge pattern, a structure typically associated with bullish reversals. The cryptocurrency bounced off the wedge support near $0.096, alongside the 200-day simple moving average (SMA), before breaking out near the $0.1120 level.

XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move? image 1 XDC Network (XDC) 4H Chart/Coinsprobe (Source: Tradingview)

Currently, XDC is trading at $0.1161, and testing its 100-day SMA, crossing this could lead it to next resistance level at $0.1326.

Stellar (XLM)

Similar to XDC, XLM has successfully broken out of its falling wedge pattern. After bouncing from support at $0.3639, XLM gained bullish momentum and made its breakout near the $0.41 level.

XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move? image 2 Stellar (XLM 4H Chart/Coinsprobe (Source: Tradingview)

At present, XLM is trading at $0.42, and testing its 200-day SMA, crossing this could lead it to next resistance level at $0.4472.

Is VeChain (VET) Gearing Up for a Breakout?

VeChain (VET) is displaying a similar price setup, currently consolidating near the upper resistance line of its falling wedge pattern. VET is trading around $0.04530, indicating a potential breakout opportunity.

XDC and XLM Gains Momentum Following Key Breakout: Is VET Gearing Up For A Similar Move? image 3 VeChain (VET) 4H Chart/Coinsprobe (Source: Tradingview)

If VET manages to break out of this pattern with strong volume, it could first test the 200-day SMA, followed by a move toward its next key resistance at $0.0485. A successful breakout and hold above this level could confirm a bullish reversal for VET in the near term.

Conclusion

Both XDC and XLM have gained momentum after successfully breaking out of their falling wedge patterns, signaling potential bullish trends. Meanwhile, VET is showing signs of a similar setup, making it a cryptocurrency to watch for a potential breakout in the coming days.

Advertisement
Your browser does not support the video tag.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!