VeChain Bulls Charge: VET Targets $0.03400 as Key Support Holds Strong
VeChain's VET isn't asking for permission—it's carving a path toward $0.03400 as buyers dig trenches around critical support. Forget 'hopeful rallies'—this is a supply-chain-token-gone-warrior, shrugging off market tremors like a bored Olympian.
The Battle Lines
No fancy indicators needed. The chart screams one thing: bulls own this territory. Every dip below support gets swarmed like a Black Friday sale—except here, the discounts vanish in seconds.
The Cynic's Corner
Sure, traditional finance gurus are still busy shorting their own credibility. Meanwhile, VET traders pocket gains while Wall Street debates whether blockchain is 'a fad.' Spoiler: your fax machine was also 'a fad.'
Target locked. Triggers cocked. This isn't analysis—it's a playbook.
- VeChain gains 1.78% in a day despite losing 12.34% over the week.
- A successful breakout retest near $0.023 may lead to a $0.034 target.
- Open interest increases, but falling volume suggests cautious market sentiment.
VeChain (VET), a blockchain project focused on supply chain and logistics, is showing signs of recovery after a difficult week in the crypto market.
While many cryptocurrencies are moving sideways, VeChain is attracting attention thanks to a small price increase and technical signals pointing to a possible rebound.
In the last 24 hours, VET has risen by 1.78% and is now trading at $0.02312. Interestingly, this gain comes even after the token dropped over 12% in the past week, showing how volatile the recent days have been.
The current trading volume is $36.13 million, which is down 8.4%, while the market cap stands at $1.99 billion.
VET Breaks Above Long-Term Downtrend Line
The latest chart shows that VeChain broke above a downward trendline that had been limiting its growth. After the breakout, the price pulled back slightly to retest the same level it had struggled to cross earlier. This is a healthy sign in technical analysis, a former resistance level turning into support.
This significant support line lies in the $0.02250 to $0.02300 region. If VET holds on to this level, it might make its way to $0.03400, which WOULD translate into a 44% increase from the current level. If the level drops to $0.02150, it might move down to the $0.01800 region.
Mixed Market Signals, But Interest Growing
While VET’s trading volume fell by 10.76% to $39.40 million, open interest ROSE by 3.64%, reaching $91.62 million. This suggests more participants are entering positions, possibly preparing for an upcoming price move.
The funding rate is slightly positive at +0.0109%, indicating a small bias toward upward movement. Still, VeChain’s price remains stuck in a broad trading range, and a clear trend has not formed yet.
VeChain recovers from recent lows as the broader crypto market turns neutral. If major support levels hold, VET could aim for $0.03400. However, trading remains muted as investors await clearer market direction.
