VeChain Flashes Buy Signals After Finding Support, Analyst Highlights Potential Resistance That Can Trigger VET Price Surge
VeChain (VET) appears to be gaining its footing after an extended decline. According to trader Teshkid, VET has established support around $0.027, with a breakback above nearby resistance at $0.03 needed to confirm the nascent recovery attempt.
Fellow trader Ali notes that the TD Sequential indicator, which identifies overbought and oversold readings, has flashed bullish buy signals on both the daily and 3-day VET charts. These sequential bullish reversals suggest “a potential upswing” could emerge over the coming days and weeks.
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Macro Trend Remains Bearish But Signs of Life Appear
Despite its 90% decline from all-time highs, VeChain stands out as a veteran blockchain project with extensive enterprise adoption and real-world use cases spanning supply chain tracking, medical records, and anti-counterfeiting.
While crypto markets remain in consolidation mode following last year’s punishing bear market, the buying signals developing around VET could mark the early stages of trend change.
However, VET remains stuck below its descending 50-day moving average, underscoring the prevailing long-term downtrend despite building momentum indications.
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If VeChain can successfully break resistance around $0.03, Teshkid highlights the next upside targets at $0.035 and $0.04 based on retracements of the recent volatile decline. Notably, the $0.04 level also approximates the 50-day moving average that often defines prevailing trend directionality.
In conclusion, while only sustained VET closes above $0.04 would signal a reliable bullish shift, traders appear to be positioning themselves in anticipation of a continued recovery. The noted TD sequential buy signals and ability to establish support provide early but unconfirmed evidence of gathering upside momentum.
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