VeChain (VET) has entered a decisive trading point after breaking above a long term bearish structure, according to analyst Javon Marks. The analyst noted that VET has sustained levels above a former resistance trendline, which had defined its prolonged decline since late 2021.
With this breakout in place, Marks noted a potential upside target at $0.25315. This would represent an increase of more than 840% from current levels if the projected move unfolds. Market action suggests early signs of recovery, yet the path is defined by key resistance zones.
Breakout From Multi Year Bearish Trend
Historical price action shows VET had a sharp downtrend from late 2021, producing lower highs and lower lows. This movement was capped by a descending trendline, which contained price for nearly two years.
By mid 2023, VET broke above this line, a change in technical structure. The breakout was followed by a moderate rally toward $0.046–$0.05 before prices entered consolidation. Since then, the token has moved sideways, holding between $0.020–$0.030, while bulls attempt to build a stronger foundation.
Resistance Levels and Market Outlook
At press time, VET was trading at $0.02657 after posting a daily gain of 3.18%. Trading volume has increased sharply, reaching 425.76M, compared with 85.83M in earlier sessions. Price movement continues to meet rejection near $0.0300, a level that has capped multiple rallies in recent months.
Above this, the next resistance is at $0.0350–$0.0400 and the long term target to the upside is at $0.25315. Support between $0.020–$0.022 is key in terms of maintaining bullish momentum. A break below here would undermine the recovery process.
Indicators Show Strengthening Momentum
Momentum indicators support the current bullish attempt. RSI is at 60.32, which is a sign of increasing strength without breaching the overbought line. Meanwhile, the MACD line at 0.00029 has crossed above its signal line at 0.00021 to create a positive histogram.
Together with rising trading volume, these readings indicate growing buyer control. However, analysts point to $0.0300 as the immediate test. A breakout above this zone would confirm a change from consolidation to a broader uptrend, leading toward higher resistance targets.
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