VeChain (VET) has ended a prolonged downtrend and made a strong bullish breakout with an increase of over 7%, creating growth prospects of up to 40% in the near future.
VET recorded a trading volume increase of 45%, with price momentum and technical signals indicating a positive trend after surpassing a key resistance point, while also attracting strong interest from investors and traders.
MAIN CONTENT
VET has broken out of the long-term downtrend and increased by 7.25% thanks to price momentum and a significant increase in trading volume.
Technical analysis indicates that VET closed above a key resistance level with a double bottom pattern and a bullish divergence signal on the weekly chart.
On-chain data and the Long/Short ratio on Binance show that market sentiment leans towards the bullish side, supporting the upward momentum in the short term.
How did VeChain escape the downtrend?
TinTucBitcoin's analysts confirm VET's strong breakout from a long accumulation phase by surpassing the declining resistance level with a daily candle closing above the breakout threshold, setting the stage for sustainable growth.
At the time of writing, VET is fluctuating around $0.0225, recording a 7.25% increase in the last 24 hours, accompanied by a 45% increase in trading volume compared to before. This is a positive sign indicating a clear reversal of this cryptocurrency after a period of instability and market volatility.
VeChain has demonstrated significant recovery capabilities, overcoming many important resistance levels and attracting considerable attention from the global cryptocurrency investment community.
Nguyễn Minh Tuấn, Market Analysis Director at TinTucBitcoin, 07/10/2025
What signals does the technical analysis of VeChain show?
The weekly chart of VET forms a double bottom pattern along with a bullish divergence signal on the indicator, indicating a strong rebound potential in the upcoming sessions.
The important support at $0.019 has been successfully tested six times since November 2023, indicating a solid foundation that boosts buying pressure whenever this price range is touched. Moreover, if the price maintains above $0.022, VET has the potential for a strong breakout, targeting $0.032, equivalent to an increase of about 40%.
However, if the price falls below $0.022, a short-term correction or accumulation scenario may occur, as VET has not yet surpassed the 200-day EMA to officially escape the broader downtrend.
What does On-chain data reflect about trader sentiment towards VeChain?
Data from CoinGlass shows that the Long/Short ratio for the VET/USDT pair on Binance is 1.92, clearly demonstrating the dominance of the Long side with 65.76% of traders holding buy positions compared to 34.24% holding sell positions.
Two price levels with high leverage ratios are $0.0208 and $0.0229, which are key points that most traders are betting on the bullish side in the short term.
Overall, these indicators reinforce the observation that VET's upward momentum is still strongly supported by the market and is likely to sustain its upward trajectory in the coming days.
The VET market on Binance shows a clear optimistic sentiment as the Long/Short ratio remains high, providing momentum for sustainable growth.
Đặng Hoàng Long, On-chain Analysis Expert at CoinGlass, 07/10/2025
Frequently asked questions
How much can VET increase during this breakout? Technical analysis and market data forecast that VET could rise by about 40%, reaching the threshold of $0.032 if it maintains above the support level of $0.022. What is the current investor sentiment towards VET? The Long/Short ratio on Binance shows that 65.76% of traders are holding Long positions, reflecting confidence in VET's upward trend. What important support level helps VET maintain its price? The support level at $0.019 has been tested multiple times since 2023, serving as a foundation for a strong rebound when touched. What is the current resistance point of VET? The temporary resistance level is at $0.022; surpassing this level is a stepping stone for the next upward momentum. Has VET truly escaped the long-term downtrend? Despite a good breakout, VET is still trading below the 200-day EMA, not yet fully confirming its escape from the broader downtrend.
Source: https://tintucbitcoin.com/vechain-mat-ho-tro-tang-40-nhanh/
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