VeChain (VET) price shows signs of breaking out since market indicators suggest an upcoming trend reversal.
Crypto analyst CryptoBusy has emphasized a strong setup, noting a falling wedge pattern, bullish divergence, and oversold conditions on the Relative Strength Index (RSI). Moreover, he noted that the VeChain Renaissance is approaching, signaling a strong bullish outlook as VeBetter.com continues onboarding super dApps. With enterprise adoption expanding, VeChain’s ecosystem is strengthening, potentially driving increased demand and long-term growth.
What you'll learn 👉
VeChain Price Analysis
A falling wedge pattern has formed on the daily VET/USDT chart shared by CryptoBusy and typically leads to bullish price movements. Market participants continue lowering the price through downward-sloping trendlines as these lines increasingly approach one another.
The trading range supports VET/USDT volumes from $0.0260 to $0.0270 and resistance occurs at $0.0330 and $0.0350. A price rise above this level may trigger a rising trend that would bring the next target between $0.0380-$0.0400.
CryptoBusy proposes that traders look for a break over $0.0300 to confirm the pattern’s veracity.
🚨 HIGH CONVICTION SETUP: $VET
— CryptoBusy (@CryptoBusy) February 13, 2025
1) Falling Wedge near completion
2) Bullish divergence confirmation
3) RSI screaming oversold (below 50)
4) Wait for reversal signs
The @vechainofficial Renaissance is cominghttps://t.co/O3Yj4geVB9 is onboarding super dApps
Enterprise adoption… pic.twitter.com/zaZROiqufQ
The Relative Strength Index stays below 50 indicating that VET currently exists in an oversold condition. CryptoBusy detects a bullish divergence pattern since price nerves lower but the RSI develops upward waves. Such divergence shows that selling pressure weakens leading to potentially rising buying interest.
The MACD is likewise indicating signs of a change. Although it remains in negative territory, the MACD line is nearing a crossover above the signal line.
The histogram bars are shrinking in height, suggesting that bearish momentum is diminishing. Should the MACD crossover take place, it might strengthen the argument for a price reversal.
Read also: This Chart Pattern Signals an XRP Price Rally to $15
Key VET Price Levels to Watch
At the time of the analysis, VET was facing immediate resistance between $0.0300 and $0.0330. Should the price surpass this level, the next objective is $0.0380–$0.0400, a range that once acted as significant support.
On the negative side, support holds at $0.0260–$0.0270. A decline beneath this range would question the optimistic perspective. The analyst stresses that verification is crucial and recommends waiting for a breakout accompanied by increased trading volume prior to making any choices.
VeChain price has dropped by 0.34% to 0.03392, in the past 24 hours and increased by 3.21% over the week, based on Coingecko data. The trading volume exceeds $58 million per day as the market capitalization reaches more than $2.75 billion.
Bullish technical signs are in place, and traders are keeping a watchful eye out for a breakout. According to CryptoBusy’s analysis, a possible rally could occur if resistance levels are broken.
However, confirmation through increased volume and sustained price movement will be essential in determining the next trend.
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