Sustained selling pushes VeChain lower in short-term trend acceleration

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VeChain slides 7.12% today

Highlights

VET remains under sustained bearish pressure, trading below key moving averages across all timeframes.
Momentum indicators show weak trend strength, with multiple signals in oversold or sell territory and no clear signs of recovery.
Price is expected to consolidate between $0.00610 and $0.00670 over the next five days, with a low probability of a bullish breakout.

Bearish trend persists as resistance builds and indicators weaken

VET is currently trading below the SMA-20 at $0.00705170, SMA-50 at $0.00712856, and SMA-200 at $0.00937830, with each of these levels acting as resistance. The Ichimoku Kijun is positioned at $0.00718650 and forms immediate resistance above the spot price. Technical momentum remains weak, as both the MACD and ADX indicate a prevailing bearish trend and low directional strength. RSI and CCI readings are in sell territory and near-oversold, while the Stoch RSI is deeply oversold, suggesting downside exhaustion but no immediate recovery signal. BBP remains negative, confirming seller dominance during intraday moves. The Awesome Oscillator is neutral and does not support further downside at this time.

Sideways consolidation expected as downside risks remain elevated

For the next five trading days, VET is expected to consolidate within a sideways-to-lower band between $0.00610 and $0.00670. The probability of a price increase is very low (less than 20%), with risks remaining tilted to the downside. A decisive breakout above $0.00719 could prompt limited upside, while a breakdown beneath $0.00610 would likely trigger further losses, as immediate support is weak in this area.

Anton Kharitonov, expert at Traders Union, sees persistent technical weakness in VeChain (VET) as the price remains below all key moving averages and support levels are fragile. He believes bearish momentum is dominant, with indicators offering no sign of reversal and downside risks prevailing. Consolidation between $0.00610 and $0.00670 is likely, with upward potential capped unless $0.00719 is reclaimed. "Until VET breaks above resistance, I remain cautious and do not expect a sustainable recovery here."

Earlier, analysts noted that VeChain was entrenched in a persistent bearish trend with little evidence of a near-term reversal. The latest developments reinforce this outlook, with immediate downside risks elevated and $0.00610 now emerging as a critical level to monitor for potential further declines.

Source of Data: VET Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.