VeChain's Slow Climb Back: Smart Traders Are Watching Closely
VeChain (VET) is gradually gaining traction in the cryptocurrency market. VET has gained 3.76% in the last month, with prices ranging from $0.0189 to $0.0303. This increase signals some recovery, but VeChain's overall six-month trend shows a 33.76% fall. These swings follow a turbulent pattern that includes both downward pressure and short-term recovery.
Technical analysis indicates that VeChain is now facing resistance at $0.0352, with solid support around $0.0123. Additional significant levels include stronger resistance at $0.0467 and deeper support at $0.000875. The Relative Strength Index (RSI) is at 47, indicating neutral conditions, with momentum indicators remaining slightly negative. This suggests that bears may still be in power, even though the market has yet to decide on a definitive path.
Traders should wait for a clean break over the resistance level or a strong bounce off support before entering positions. Until then, VeChain remains range-bound, with cautious optimism.