VeChain Smashes Through 200-Day EMA—Is $0.061 the Next Stop?

VeChain just bulldozed past a key resistance level—the 200-day Exponential Moving Average—and now traders are eyeing an 88% surge to $0.061. Could this be the start of a bullish sprint, or just another crypto tease?

Technical indicators are flashing green, but let’s not forget: in crypto, even ’sure things’ have a habit of face-planting when Wall Street sneezes. Buckle up.

VET Price Chart VeChain forms its third consecutive bullish candle following the 200-day EMA breakout. Currently, the VET token trades at $0.030, reclaiming this psychological level. As the uptrend gains momentum, the daily RSI line bounces off the halfway mark and surpasses the 14-day SMA. With the RSI line pointing higher, the distance from the overbought zone indicates significant room for growth in VeChain. Additionally, the 200-day EMA breakout increases the likelihood of an uptrend in the 50- and 100-day EMA lines, potentially leading to a positive crossover. According to Fibonacci levels, a potential pattern breakout will likely surpass the 61.80% Fibonacci level at $0.055. This estimate is derived by adding the pattern’s depth to the breakout point, suggesting an 88% rally to $0.061. On the flip side, if the altcoin fails to break above the 23.60% Fibonacci level, a potential retest of the 50-day EMA at $0.027 could occur. VET Derivatives Supports Bullish Bias Amid the sudden surge in bullish pressure, the VeChain derivatives market witnesses a significant boost. Open interest has surged by 5.75%, reaching $86.47 million. Notably, the funding rate remains steady at around 0.010%, signaling consistent bullish intent.

VET Derivatives Surprisingly, the recent price surge has increased Optimism among Binance traders betting on VeChain. According to CoinGlass data, 64% of Binance accounts trading VET-USDT perpetual contracts are bullish on the altcoin.

Coinglass This reflects a long-to-short ratio of 1.82 based on the accounts. With this overall bullish bias, a potential leverage-driven rally for VeChain is possible. However, traders should remain cautious, as 35% of short positions could command greater capital, which might undermine the long bias.