VeChain VET Surges Past Key Technical Level, Targets $0.061 Amid Bullish Pattern Formation
VeChain’s native token VET jumped 8.58% as it reclaimed the $0.030 level and decisively broke through its 200-day exponential moving average. This rally aligns with a broader market upswing that propelled total crypto market capitalization to $3.44 trillion.
Technical charts show an inverted head-and-shoulders pattern developing on the daily timeframe, with neckline resistance currently at $0.0327. Derivatives data confirms growing bullish conviction, with open interest increasing 5.75% in tandem with price appreciation.
The technical breakout suggests potential for an 88% advance toward $0.060 if current momentum persists. As of May 23, 2025, VeChain trades at $0.030, having printed three consecutive bullish candles since overcoming this critical moving average.
