"VEE Crypto Surges 100% in Seven Days, Then Retraces 40%: Can the Uptrend Continue?"

VEE crypto, the native token of the SmartNFT analytics platform BLOCKv, has surged by 100% in just seven days, outperforming top coins such as Bitcoin [BTC] over the same period. However, with such significant gains, speculators have begun booking profits, leading to a nearly 40% retrace at press time. Despite this pullback, VEE crypto appears to have stabilized above the key 50% Fibonacci retracement level, raising the question of whether the uptrend can continue.

In most cases, strong uptrends are typically followed by pullbacks that ease and bounce back at key Fibonacci levels. In VEE's case, the 50% Fib level coincided with a bullish order block (support) on the 6-hour chart, suggesting that this area could act as a strong support. The lower candlestick wick at press time indicated considerable demand at the 50% Fib level. However, capital inflows were average, as demonstrated by the CMF (Chaikin Money Flow) at neutral levels. Additionally, the RSI was at the pivot level, and only a rebound at the neutral area could signal a likely recovery effort.

If key technical indicators gain traction again, VEE could potentially retarget $0.053 or a recent high of $0.067. On the other hand, an extended pullback and profit-taking could drag VEE to $0.03 or even $0.02. A closer look at the factors behind the latest rally revealed that whale movements triggered the wild 100% pump. Notably, on 1 February, VEE saw a large transaction worth $130k, and on 5 February, another whale clip of nearly $150k was recorded, triggering the second leg of the rally. The surge in market interest during the rally offered the much-needed fuel for VEE to climb higher. According to Santiment, social volume spiked, hinting at increased market interest across social media platforms. However, the weighted sentiment flipped negative, which could hold back a strong rebound for VEE in the short term.