VeChain (VET) Tests Critical Support at $0.027 as Bullish Pattern Hangs in Balance
VeChain has broken below the crucial $0.027 support level, putting its inverse head-and-shoulders formation at risk of invalidation. The 1% daily decline contrasts with broader crypto market gains driven by Ethereum’s surge above $2,700.
Technical indicators show concerning signals, with price now trading below the 23.60% Fibonacci level at $0.02729. Weekly losses stand at 1.32%, while daily RSI confirms weakening bullish momentum as VET approaches trendline support NEAR $0.02572.
Traders are monitoring two key scenarios: either a pattern confirmation at the $0.03307 neckline or a potential breakdown toward $0.0247. The next few trading sessions will determine whether VeChain can leverage improving altcoin sentiment or face deeper correction.
