VeChain rejects key resistance near $0.02400 as sellers regain control, pushing price toward deeper untested liquidity zones.
VET's short-term structure breaks down after sweeping $0.03349, confirming a bearish shift and fading upside momentum.
A 19.6% drop to $0.01771 remains in play, with persistent rejections and unfilled Fair Value Gaps reinforcing downside pressure.
VeChain (VET) is showing renewed weakness following a firm rejection from its upper resistance range near $0.02400. The cryptocurrency is currently trading around $0.02205, logging a 2.43% daily drop as downside targets come into focus.
Market Structure Shift Triggers Bearish Continuation
VeChain's recent price action reflects a major short-term market structure change after three-month highs. The rally lost steam after price swept the $0.03349 level, triggering a reversal marked by constricting ranges and decreasing highs. This reversal reflects a clear loss of bullish momentum and the introduction of bearish positioning.
https://twitter.com/CryptoPatel/status/1933982777080250666
As in the post above, bearish analyst Crypto Patel has presented a detailed analysis of the current VET structure. According to Crypto Patel, VeChain rejected the $0.03349 level after a liquidity grab, confirming a Market Structure Shift. He explained that VET is now compressing below an unfilled Fair Value Gap between $0.02350 and $0.02400, which overlaps with a known supply zone.
The analyst highlighted that price failed to reclaim or close above this zone, strengthening downside pressure. This rejection confirms that sellers are active around the Fair Value Gap, limiting any bullish advance. Patel pointed to a major liquidity pool near $0.01771 that remains untested, adding that this inefficiency may attract price movement.
He further emphasized that this liquidity zone, untouched for months, now acts as a potential price magnet. The projected decline from current levels to $0.01771 would mark a 19.6% move, aligning with technical breakdowns seen in early April. His observations suggest that short-term sentiment has flipped, with lower highs guiding the current trajectory.
Final Outlook: Downside Targets Remain Active Below $0.02000
Crypto Patel has reinforced that VeChain continues to face structural rejection above $0.02400 and persistent selling between $0.02600 and $0.02800. He noted that volume compression and lack of breakout confirmation have weakened bullish setups since March.
In his final outlook, Patel believes that unless VeChain reclaims and closes above the Fair Value Gap, sellers remain in control. The presence of multiple resistance layers and untouched downside liquidity supports the case for a retest of the $0.01771 level.
With current momentum fading and upside met with rejection, VeChain’s short-term trend remains bearish. Traders are now watching for signs of acceleration toward lower support, as structural inefficiencies and supply pressure dominate price action.
