VeChain (VET) has shown consistent weakness, breaking beneath several support levels in a clear continuation of its long-term downtrend. This asset is trading at $0.01987, shedding nearly 4% intraday and threatening to revisit multi-month lows. A critical look at the technical landscape across timeframes reveals deteriorating structure, strengthening the bearish narrative.
Major Price Patterns
- Descending Channel (Daily/4H):
The pair continues to trade inside a well-defined descending channel, a hallmark of sustained bearish pressure. Every bounce has been met with lower highs and persistent rejection at the channel’s upper trendline. The most recent breakdown shows a rejection from $0.0237 and a fresh leg lower below $0.0195.
- Double Top Breakdown (4H):
In late March, VET formed a double top around $0.025, with a neckline at $0.0215. The pattern completed after a clean break below that neckline, confirming further downside. The technical target from this breakdown measures near $0.017.
- Bearish Flag (1H/15M):
Lower timeframes reveal a bearish flag consolidation following each drop, often serving as a pause before continuation lower. On the 15M chart, VET continues to form micro bear flags with brief relief rallies before fresh breakdowns.
Key Technical Indicators
- Bollinger Bands (20 SMA):
Price continues to hug the lower Bollinger Band, indicating increased downside volatility. The bands have widened, suggesting momentum favoring bears. Price consistently fails to reclaim the midline (20 SMA), reinforcing the trend.
- MACD (12, 26):
The daily MACD histogram has flipped back to red, and both MACD and signal lines are sloping downward, signaling fresh bearish momentum. The 4H MACD recently had a bearish crossover. On the 1H and 15M charts, histogram bars confirm sustained seller control.
- RSI:
Daily RSI is in the oversold region (27), but with no bullish divergence. On the 4H and 1H, RSI remains below 40, showing no signs of upward momentum. Continued pressure here could lead to an extended oversold phase.
Volume:
Volume spikes on red candles while green volume remains low — a textbook distribution signal. Any reversal must be confirmed by a significant increase in bullish volume, which remains absent.
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Key Support & Resistance Levels
- Immediate Support: $0.0185 / $0.0170
- Major Resistance: $0.0215 / $0.0237 / $0.0250
- Breakdown Target: $0.0160
- Bullish Invalidation: Close above $0.0250 with volume
Fundamental Analysis
Fundamentally, VeChain is struggling with diminished investor interest as newer ecosystems attract more developer activity and capital inflows. While VeChain still has enterprise-focused use cases (e.g., supply chain tracking), adoption news has been sparse. Moreover, altcoin markets remain under macro pressure, especially with ongoing regulatory scrutiny, decreasing stablecoin supply, and capital rotation into Bitcoin and ETH.
Recent months saw little to no bullish catalysts for VET, while competition from chains like Polygon and Solana grows. Until VeChain Foundation introduces game-changing updates or partnerships, VET may remain in distribution mode.
Price Outlook (Next 7–14 Days)
If bears maintain control, the next leg down may test $0.0170 or even $0.0160. Relief rallies could hit $0.0215–$0.0237, but without significant volume or trend reversal confirmation, these may serve as shorting opportunities. Traders should watch for RSI divergence and MACD flattening as potential early reversal signals — though none are visible yet.
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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