VeChain (VET) is currently trading at $0.02009 with a slight decrease of 0.89% on the 4-hour chart following a sharp drop to $0.01843. The analysis shows signs of short-term recovery, yet the overall trend remains bearish.
Technical Patterns
A bullish hammer formed near $0.0184 on the 4-hour chart, suggesting a potential trend exhaustion after a steep drop. Moreover, VET has broken out from a descending channel on the 1-hour chart, now retesting the $0.0195 zone as a key inflection point. Additionally, a rounded bottom is forming on the 15-minute chart, indicating accumulation, with a confirmed break above $0.0206 potentially opening the path to $0.0215.
Indicators
On the 4-hour chart, Bollinger Bands show a rebound from the lower band, with current consolidation below the midline ($0.0206). A break above this level would indicate a shift in momentum. The MACD has crossed above the signal line on both the 4-hour and 1-hour charts, with the histogram turning green, presenting an early bullish signal, though lacking strong follow-through. RSI has risen from oversold levels (below 30) to the 45–50 range, indicating fading bearish pressure. Volume surged during the bounce from $0.0184, hinting at institutional interest, although subsequent candles show a declining volume, suggesting caution.
Key Levels
Key support levels for VeChain are at $0.0184 and $0.0190; resistance levels are at $0.0206, $0.0215, and $0.0228.
The outlook for VET remains uncertain, but sustaining above $0.0195 could lead to a rally towards $0.0215. A breakout above $0.0228 may extend the upward movement; however, failing to hold $0.0200 might drag the price back toward $0.0184. Monitoring MACD momentum and volume closely is crucial for confirming the next move.
