VeChain (VET) is trading at $0.02642, reflecting a slight -0.00023% dip from the previous close. Despite recent fluctuations, VET’s price action suggests a potential trend shift.
Monthly Chart: Bottoming Out
VET has been in a downtrend since peaking at $0.08000 but found strong support at $0.02134. If this level holds, it could signal a bottom. The key resistance at $0.03369 must be broken for a confirmed reversal and further upside momentum.
Daily Chart: Early Reversal Signs
On the daily timeframe, VET is attempting a recovery, forming higher lows. Support at $0.02590 is holding, while resistance at $0.03369 remains crucial. A successful breakout would open the path toward $0.04000-$0.05000 in the coming weeks.
4-Hour Chart: Short-Term Bullish Momentum
VET’s 4-hour chart shows an emerging uptrend, with support at $0.02590 and resistance at $0.02692. A breakout above this resistance could propel VET toward $0.02850-$0.03000 in the short term.
Next Move Projection
- Bullish Case: Holding $0.02590 and breaking $0.02692 could push VET to $0.02850, $0.03000, and $0.03369. A strong breakout past $0.03369 would confirm a bullish reversal, targeting $0.04000-$0.05000.
- Bearish Case: If VET drops below $0.02590, a retest of $0.02134 is likely. A break under this level would invalidate bullish momentum, risking a decline toward $0.01800-$0.02000.
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VET is at a critical decision point. While short-term indicators favor upside movement, $0.03369 remains the key breakout level. A move beyond it would confirm a bullish reversal, while failure to hold support could trigger further downside. Traders should monitor these levels closely before making decisions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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