VeChain (VET) Shows Bullish Reversal Signals as Key Support Holds Firm

VeChain (VET) is displaying signs of reversing its extended downtrend, currently trading around $0.02190 following a 74% drop from its December peak of $0.085. The cryptocurrency is now testing a historically strong support level that has previously triggered significant upward movements.

Volume indicators show decreasing sell pressure, with the current consolidation phase occurring on reduced trading activity—a typical setup preceding bullish reversals. A clear breakout above the $0.023 resistance level could spark momentum toward $0.030, especially as Bitcoin's recent market strength breathes new life into altcoin markets.

The supply chain-focused token continues to exhibit its trademark volatility, having broken out of consolidation in late 2023 before retracing. Current market structure points to accumulation, suggesting potential for the explosive price movements VeChain has demonstrated in its history.