VeChain technical analysis: Bears maintain control while price stays above crucial $0.00704505 support

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VeChain drops 7.29% today to $0.007414

Highlights

VET/USD trades below important short- and medium-term moving averages, indicating sustained selling pressure in the market.
Momentum indicators are decisively bearish with oversold readings, and negative Bull/Bear Power reflects ongoing intraday seller dominance.
Price dropped 7.29% today with the next 2 to 3 day range projected at $0.00704505 to $0.00778295 and high probability of further downside.

Bearish momentum as sellers test but don't breach long-term trend

VET/USD is currently trading below the MA-20 and MA-50 on the H1 chart, signaling short- and medium-term downward pressure from sellers. However, the pair remains above the MA-200, indicating that the broader bullish structure is still intact. Immediate resistance is seen at the Ichimoku Kijun level of $0.007799. Momentum indicators such as MACD and ADX remain firmly bearish, while RSI, Stoch RSI, and CCI are all in oversold territory, marking pronounced short-term exhaustion. Bull/Bear Power reflects persistent seller dominance intraday, and the Awesome Oscillator is currently neutral, offering little support for either direction.

High probability of further downside amid narrow consolidation risk

In the short term, VET/USD is expected to trade within the $0.00704505 to $0.00778295 range over the next several trading days. The probability of a continued downward move remains very high, while an upward rebound scenario is unlikely unless the price breaks above the Ichimoku Kijun resistance at $0.007799, which could prompt short covering. Alternatively, a decisive move below $0.00704505 would open the door to further losses. The baseline scenario suggests consolidation within the mentioned corridor given the current volatility band.

Viktoras Karapetjanc, expert at Traders Union, notes that VeChain (VET) remains structurally resilient despite heavy short-term selling pressure. He sees support from its long-term moving average, but warns that momentum and sentiment indicators are still pointing down. The analyst emphasizes that consolidation is likely unless key resistance at $0.007799 is broken. "As long as VET stays above its MA-200 and within the current range, I remain optimistic for a potential recovery if sentiment shifts," he concludes.

Earlier, analysts noted that VeChain was facing persistent bearish momentum and mixed technical signals, with consolidation and potential rebound scenarios in focus. The latest price action strengthens the bearish outlook, as downside remains dominant until a break above the $0.007799 resistance shifts the short-term direction.

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.