VeChain (VET) Holds at $0.020 as Bears Target $0.017 Support

VeChain (VET) is clinging to the $0.020 psychological level as bearish momentum threatens to push prices toward critical support at $0.017. A 40% decline over the past month highlights the asset's struggle within a falling channel pattern, with rejection at $0.02210 reinforcing downward pressure.

Technical indicators suggest continued bearish dominance. Both the MACD and RSI signal weakness, while Fibonacci retracement levels point to $0.017 as the next likely target. A breakout above $0.024 WOULD be needed to invalidate the downtrend and potentially reignite bullish momentum toward $0.031.

Traders are monitoring derivatives activity for signs of capitulation or accumulation. The coming days will test whether VeChain's infrastructure-focused value proposition can withstand broader crypto market headwinds.