VeChain (VET) Eyes $0.032: Can Bulls Smash Through $0.0283 Resistance?
VeChain (VET) isn’t just knocking on the door—it’s rattling the hinges. With bullish momentum building, traders are laser-focused on whether VET can crack the $0.0283 barrier and charge toward $0.032.
The Setup:
Price action hints at a classic breakout play. If VET flips $0.0283 from resistance to support, the path to $0.032 opens up—no magic, just pure chart mechanics.
Why It Matters:
Another altcoin testing key levels? Groundbreaking. But VeChain’s real-world adoption narrative gives this move teeth. Unlike some ‘vaporware coins’ (looking at you, meme token brigade), VET’s supply-chain cred adds fuel to the pump.
The Catch:
Markets love to humiliate the overeager. A rejection at $0.0283 could trigger a nasty pullback. Pro tip: Watch BTC’s mood—because in crypto, everything’s a leverage play on Bitcoin’s drama.
- VeChain is trading above the Ichimoku Cloud but still under key moving averages.
- Indicators like CMF, MACD, and AO reflect growing bullish momentum.
- A close above $0.0283 may trigger a breakout toward $0.030–$0.032.
- Failure to breach resistance could drag the price back to $0.0257.
VeChain (VET) is currently priced at $0.02763, showing early signs of bullish momentum on the daily chart. The token has broken out above the Ichimoku Cloud, which is an indication that there could be a reversal in the trend.
Despite this, it still falls under pressure from the 9-day Exponential Moving Average (EMA) at $0.02830 and the Double Exponential Moving Average (DEMA) at $0.02827. Both these prices now act as immediate resistance.
The flat nature of the cloud suggests there is little conviction in the marketplace. Buyers are feeling the waters, but decisive movement has still not been attained. Traders are closely paying attention to the region between $0.02827 and $0.02830. A breakout at this juncture can precipitate the next rising leg. Short-term skepticism reigns supreme until then.
VeChain Bulls Eye Breakout as Technical Indicators Turn Positive
Technical indicators are painting a cautiously optimistic picture. The Chaikin Money FLOW (CMF) is at the +0.03 level, which shows small buying pressure. The inflow supports the current uptrend narrative, but by no means is it overwhelming.
The Moving Average Convergence Divergence (MACD) line crossed above the signal line, and the histogram indicates positive growth. That indicates rising momentum. Since the MACD remains above the neutral zero line, the medium-term trend is bullish.
The Awesome Oscillator (AO) is also in agreement. The green bars above the zero level indicate a rising speed on the bullish side. Such alignment of indicators provides the bulls with a technical advantage on the condition that the price breaks through the resistance level.
Support Zones Offer Some Cushion Below
Below the current price, VeChain has two key support zones. The first sits at $0.02671, which aligns with the Ichimoku baseline and prior horizontal levels. This zone has proven reliable during past dips and could act as a buffer in the short term.
A steeper correction WOULD reach $0.02576, the latest swing low. That added depth is the bottom of the current range in which VeChain has been trading, and where buyers looking for value on the downside may flock. But consecutive failures at resistance might reverse the momentum back towards such supports.
Short-Term Targets and Caution Ahead
The outlook for VeChain depends on a daily close above $0.0283. If this happens, the price may rally toward the $0.030–$0.032 region. This is both a psychological and historical barrier. A MOVE above would confirm buyer dominance and expand the bullish outlook.
But if the price dips below $0.0267, bearish sentiment may re-emerge and push VeChain towards the $0.0257 level. crypto Yapper recently noted that the price of VET has risen 43% from the previous breakout level and identified the next resistance at $0.045.
