VeChain is re-testing its falling wedge break out as sales pressure grows. VET’s price will be tested to see if it can stay above $0.020. If not, then a fall down to $0.018 is likely.
The altcoin markets are down by 2% in the last week. VeChain Currently, the stock market is experiencing renewed selling pressure. VET is continuing the downward trend that began on April 15 with an intraday decline of 3.57%.
The VeChain Token is currently retesting the breakout of a falling wedge. A growing demand for VeChain tokens suggests that a correction towards $0.018 is possible.
VeChain’s Price Analysis warns against a Breakdown of $0.0020
VET’s daily chart shows that it has broken out of a wedge-shaped pattern. However, this breakout rally did not surpass the 50 day EMA around $0.025. The market is uncertain after two consecutive Doji candles on the weekend.
A red candle engulfing an 8% fall has completed an evening-star pattern. Bulls fail to surpass the 50-day EMA, which coincides with a rejection of the 78.6% Fibonacci at $0.02574.
VET currently trades just below the resistance trendline that was broken at $0.02173. The daily RSI is below midpoint as the failed breakout turns bearish, indicating a weakening of bullish momentum.
It increases the probability of another downswing. The exponential moving averages of 50, 100, and 200 days remain bearish.
The new partnerships add credibility and support
VeChain’s credibility has increased in recent weeks despite price fluctuations.
Michael Van De Poppe recently praised VeChain for its partnership with UFC’s CEO Dana White. White has joined VeChain in the role of an official advisor.
The partnership could lead to more powerful partnerships. VeChain and 4ocean’s collaboration to tackle plastic pollution with blockchain technology was also mentioned by the analyst.
$VET Keeps on Delivering!
The massive partnership between Dana White and the NFL could indicate that more collaborations are coming.
Last week, 4ocean and blockchain partnered to tackle plastic waste.
What do you think? #VeChain is one to watch going into VeChain… https://t.co/p2f7LJlo8t
— Michaël van de Poppe (@CryptoMichNL) April 16, 2025
VeChain Analysts Target 150% Increase in VeChain
Crypto analyst Jonathan Carter has mapped out the wedge-shaped breakout of the falling price on the daily chart to fuel hopes for an upcoming breakout rally. VeChain, according to his analysis could be primed for an explosive bull run.
These levels represent the key resistances: $0.0275; $0.040; $0.048, and $0.057. The analyst predicts an upward potential of 150% based on these levels.
VET Price Targets
Fibonacci levels in the daily chart indicate that a break below the psychological $0.020 level would send VET back to its $0.018 base.
In the opposite direction, an upward trend after this retest may push VET above the Fibonacci Retracement of 78.6% ($0.025). The uptrend could then extend all the way to the Fibonacci 50% level of $0.038.
DisClamier: The content of this article is for information purposes only and does not constitute financial advice. The opinions expressed by the author in this article are their own and not The Crypto Basic’s. Before making an investment decision, readers should do extensive research. Crypto Basic will not be held responsible for any losses.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: thecryptobasic.com
