VeChain (VET) remains a pivotal player in the crypto market, experiencing notable price fluctuations across different timeframes. VET trades around $0.0215. This analysis identifies key support and resistance levels, offering insights into potential market movements.
Short-Term (15-Minute Chart): Range-Bound Trading
VET is oscillating between $0.0225 support and $0.0235 resistance. A breakout could push prices toward $0.0240-$0.0250, while a breakdown may test $0.0218-$0.0215. Short-term traders should monitor these levels for quick opportunities.
Mid-Term (4-Hour Chart): Early Recovery Signals
Signs of recovery emerge as VET eyes resistance at $0.03369. A move beyond this level could ignite a rally to $0.035-$0.037. Support at $0.0225 is crucial—losing this may drive prices to $0.0210-$0.0205.
Daily Chart: Consolidation Phase
VET is consolidating between $0.0225 and $0.0235. A break above $0.0235 could lead to $0.0250-$0.0265, while failure to hold support may bring a decline toward $0.0210.
Long-Term (Weekly & Monthly): Potential Reversal or Continued Decline
A bullish engulfing pattern on the weekly chart suggests a possible shift in momentum. A close above $0.0250 could confirm an uptrend, targeting $0.0280-$0.0300. Conversely, breaking below $0.0225 risks testing $0.0205-$0.0195.
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The broader downtrend persists, with resistance at $0.0300-$0.0325 and support near $0.0200-$0.0185. A breakout above the descending channel would be a strong reversal signal.
What to Watch Next
- Above $0.0250: Targets $0.0280-$0.0300
- Above $0.03369: Signals rally to $0.035-$0.037
- Below $0.0225: Potential drop to $0.0210-$0.0195
Market conditions remain dynamic. Traders should track volume, RSI, and macroeconomic influences to refine their strategies.
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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