VeChain Stumbles Below $0.027—Is the Bull Run Over Before It Begins?

VeChain’s price just breached a critical support level, dipping under $0.027. Traders are sweating—was that ’bullish pattern’ just wishful thinking?

Here’s the breakdown: The token’s recent slide throws cold water on the optimism that had been building. Technical analysts are scrambling to update their charts, while the ’buy the dip’ crowd debates whether this is a bargain or a trap.

Meanwhile, Wall Street ’experts’—who still think blockchain is a type of ski binding—are probably drafting another ’I told you so’ thinkpiece. Stay tuned.

VeChain Price Chart The downward trend forms a falling channel, while the broader price structure still suggests a potential inverse head-and-shoulders pattern. The neckline aligns with the horizontal resistance at $0.03307, but the recent pullback increases the risk of pattern failure. Trading below the 23.60% Fibonacci level, a decisive daily close under this support could trigger a prolonged correction. Supporting the bearish outlook, the daily RSI has dropped below the midpoint, indicating a significant loss of bullish momentum. The immediate support for VeChain lies at the descending trendline, which is NEAR the Supertrend indicator at $0.02572. If the price falls below this level, the trend could reverse toward the next support levels at $0.02471 and $0.02199. Conversely, a potential rebound within the falling channel could revive bullish hopes and increase the likelihood of completing the inverse head-and-shoulders pattern, with a possible retest of the neckline near $0.0307. In a more optimistic scenario, a breakout from the pattern could face immediate resistance at the 50% Fibonacci level at $0.03922, potentially extending the bullish rally. Derivatives Data Reveal Optimistic Bulls Facing Rising Liquidations As VeChain’s price declines, liquidations in the derivatives market have intensified, wiping out bullish positions. Over the past 24 hours, long liquidations totaled $81.59K, compared to just $4.05K in short liquidations.

VET Derivatives Despite this, VeChain’s open interest has risen by 1.09%, reaching $79.71 million. Furthermore, the funding rate has climbed to 0.0112%, suggesting growing bullish sentiment amid increased trading activity. This has pushed the long-to-short ratio to 1.008 over the last 24 hours, reflecting a more balanced market. With mixed signals from the derivatives market and key price levels being tested, VeChain stands at a critical juncture.