After a sustained decline, VeChain (VET) broke through the descending wedge which implies the market could reverse.
If VET stays above $0.02815, it may rise to $0.03047; however, breaking that level could lead to a move up to $0.04201.
The double bottom and the price holding stable imply investors are growing optimistic.
VeChain (VET) has started to reverse its downward trend after several months of falling prices. A series of higher lows and positive market patterns are appearing, suggesting an increase in price may happen soon. As of today, VeChain (VET) was trading at $0.03046, with a 5.2% surge over the past 24 hours.
Descending Wedge Signals a Breakout
Data from the chart above shows VET recently broke out of a descending wedge pattern—a structure typically considered a bullish reversal indicator. From late December 2024 to early April 2025, there was a period where the price moved between two narrowing trendlines. Buying momentum grew as the price moved above the wedge in late April.
https://twitter.com/THEFLASHTRADING/status/1925406301309313025
The movement was also supported by a double bottom pattern around $0.02000–$0.02200 which formed in early April. This region’s recovery brought support at around $0.02815 which continues to be vital for VET’s stability moving ahead.
Resistance Levels and Price Targets
There is quick resistance at $0.03047 which slightly surpasses the current price. If the market breaks decisively above this level, it could potentially aim for other price points, with the main resistances detected at $0.05234, and $0.06704. These targets align with previous support-turned-resistance zones visible in late 2024.
VET’s upward momentum will depend on the volume sustaining above average and avoiding a return below the established wedge resistance. Failure to maintain the $0.02815 support could invalidate the bullish setup.
Broader Implications
The chart pattern reflects renewed interest in VeChain as broader market sentiment improves. Traders have turned their attention to mid-cap tokens like VET, which had previously been in prolonged downtrends. While the current setup is favorable, further confirmation is needed before more substantial upside can be anticipated.
The recovery signals that buyers are gradually regaining control, but resistance levels remain key to watch in the days ahead. A steady climb past $0.03047 would add confidence to the bullish outlook.
The post VET Rebounds from $0.02815 Support, Targets $0.06704 in Bullish Setup appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
