VeChain shows potential for sideways movement as no technicals indicate a buying opportunity: weekly review
VeChain (VET) is currently trading at $0.007224, reflecting a weekly increase of $0.000145 or 1.91%. The asset remains positioned below its weekly MA-20, MA-50, and MA-200 levels, indicating continued medium- and long-term pressure from sellers on the W1 timeframe.
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Highlights
- VeChain (VET) sustains a bearish trend, trading well below all key moving averages amid persistent seller control.
- Technical indicators including MACD and ADX confirm strong downside momentum, with oscillators largely in the sell zone and short-term reversal risk present.
- VET is expected to trade sideways in the $0.00637 to $0.00806 range next week, with less than 20% probability of a breakout move.
Bearish momentum holds as oscillators hint at short-term reversal risk
On the weekly chart, VET remains below the MA-20 at $0.00890735, MA-50 at $0.01695094, and MA-200 at $0.02444989, with the nearest dynamic resistance set at the MA-20. The MACD signals strong bearish momentum and the ADX confirms a clear ongoing downtrend. Key oscillators, including the RSI and Commodity Channel Index, are both in the sell zone, but the Stochastic RSI is in overbought territory, revealing potential for short-term reversal risk. Weekly volatility stands at 11.92%, and Bull/Bear Power continues to favor sellers.
Sideways bias expected as technicals limit breakout probability this week
For the next 7 days, the expected price range is $0.00637 to $0.00806, with baseline expectations for sideways movement within this corridor according to weekly indicators. There is less than a 20% probability for a strong upward move, as none of the four key technical indicators provide a Buy or Strong Buy signal. A bullish break above $0.00806 would require renewed positive momentum, while a move below $0.00637 could signal a return of intensified selling and a risk of retesting year lows.
Earlier, analysts noted that VeChain was experiencing ongoing bearish momentum and lacked clear signs of a reversal. The current analysis reinforces this view by confirming continued downside pressure, suggesting traders should monitor for a potential break below $0.00637 as a cue for renewed selling momentum.
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