- Bitcoin has bounced back from $76,000 to trade around $84,000, providing a boost to altcoins like VeChain (VET) and Tezos (XTZ) which have both dropped over 68% in the last 90 days.
- VET is approaching the upper boundary of its falling wedge pattern at $0.025, with a potential breakout targeting $0.036 and possibly $0.048, representing up to 92% gains.
- XTZ is similarly positioned near a falling wedge breakout at $0.7145, with potential targets at $0.92 and $1.13, offering up to 57% upside from current levels.
- Both tokens reached their recent lows of $0.021 (VET) and $0.61 (XTZ) on March 11, and falling wedge patterns often indicate potential trend reversals if confirmed with volume.
Date: Sun, March 16, 2025 | 04:40 AM GMT
The cryptocurrency market is showing signs of stabilization as Bitcoin (BTC) has bounced back from its recent dip near $76,000 and is now trading around $84,000. This positive shift is giving altcoins a much-needed boost— to tokens like Vechain (VET) and Tezos (XTZ), both of which have suffered heavily over the last 90 days.
However, as the market stabilizes, both tokens are approaching key resistance levels within their respective falling wedge patterns. A potential breakout could signal the beginning of a strong recovery for both assets.
VeChain (VET) Analysis
VET’s daily chart highlights a clear falling wedge pattern that began after its rejection from the December 3 high of $0.080. Since then, the token has dropped more than 68%, hitting a low of $0.021 on March 11.
But momentum seems to be shifting. VET has climbed back to $0.025, now pressing against the upper boundary of the wedge. A breakout above this resistance—ideally confirmed with a successful retest—could open the door for a move toward $0.036, which aligns with the 50-day moving average (MA).
If the rally gains strength, VET could aim even higher—toward the $0.048 zone, near the 100-day MA. That would mark a potential 92% gain from current levels.
Tezos (XTZ) Analysis
XTZ has followed a similar trajectory. After peaking at $1.90 in early December, the token dropped over 68%, bottoming out at $0.61 on March 11.
Currently trading around $0.7145, XTZ is edging closer to breaking out of its own falling wedge pattern. A successful breakout and retest could push the price toward the $0.92 resistance level, in line with its 50-day MA.
If bullish momentum continues, the next target could be $1.13, near the 200-day MA—representing a potential 57% rally from current prices.
What’s Next for VET and XTZ?
Both tokens are now at crucial technical junctures. Falling wedge patterns are often early indicators of a reversal, but confirmation with volume and follow-through is key. Traders will be watching closely for decisive breakouts.
While technicals look promising, broader market sentiment, Ethereum’s next big move, and macroeconomic factors will still play a significant role in shaping what comes next.
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