VeChain

Following the breakout of the major resistance level near $48,000 in Bitcoin, bullish momentum has swept across the cryptocurrency industry. Amid this surge, VeChain (VET) also reacted significantly, experiencing a gain of over 10% in just 24 hours. Why VeChain (VET) price is increasing? 
However, the major reason behind this bullish momentum in VeChain is its recent collaboration and continuous development. VeChain recently made a post on X (previously Twitter), mentioning 2 million real-world daily transactions from a single smart contract. With these significant transactions, VeChain also revealed its recent collaboration with PwC and Walmart China.
According to VeChain, the collaboration between PwC, Walmart China, and blockchain technology is shaking up the retail sector, making waves as one of the most significant blockchain applications to date. The VeChain post on X also highlights that more innovation, bigger moves, and widespread adoption are ahead.
Besides the collaboration with PwC and Walmart China, on February 11, 2024, VeChain announced that crypto users can now find VeChain (VET) and VeChainThor (VTHO) on the ledger wallet, which can help crypto enthusiasts secure their VET and VTHO more effectively.
This continuous development in the VeChain ecosystem has significantly impacted the price of its token. Furthermore, as VeChain experiences bullish momentum, it aligns with the <a href="https://news.todayq.com/crypto-market-eyes-2-trillion-mark-with-eth-etf-hopes/" rel="noopener noreferrer nofollow">overall sentiment </a>in the cryptocurrency market, which is currently bullish.&nbsp; VeChain (VET) technical analysis and expert view 
Following this positive trend in VeChain, on February 14, 2024, prominent traders and crypto experts also made a post on X, suggesting a promising week ahead for VeChain (VET). If past patterns repeat, there might be a potential rise to $0.054 this week. After a temporary dip until June, there could be a bullish trend leading to a target of $0.70 by November.
It feels like it will be a big week for
Currently,VET is trading near $0.0349, and in the last 24 hours, it experienced a significant price surge of over 10%. If we look at the price of VET for a longer period, in the last 7 days, the VET price experienced an upside momentum of over 26%, whereas, in the last 30 days, VET has seen over a 14% upside momentum. Source: TradingView 
According to expert technical analysis, VET on a daily time frame has broken through a strong resistance level that was at $0.0346. If the VET price on a daily time frame closes above this breakout level, we may see a price surge of over 24% in the coming days, reaching the $0.04 level, which is its next resistance level.
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