- VeChain rejected from key resistance after sweeping $0.03349, confirming a bearish shift with targets near $0.01771.
- Overlapping supply and Fair Value Gap rejection reinforce smart money’s bearish stance as VET trades below $0.02350.
- No bullish reversal signs appear as VeChain forms consistent lower highs with declining buyer momentum toward liquidity pool at $0.01771.
VeChain ($VET) trades under selling pressure following a major rejection from its recent highs. After sweeping the three-month liquidity peak near $0.03349, the price reversed sharply and triggered a bearish market structure shift. Currently, VeChain trades at $0.02205, showing weakness across key technical zones. Analyst Crypto Patel has pointed out a high-probability short setup fueled by institutional behavior and price inefficiencies. The bearish thesis gains further strength from overlapping supply zones, an unfilled Fair Value Gap (FVG), and untouched liquidity pools below current levels.
Market Structure Shift Triggers Downside Move
From April to early May, VeChain saw a strong uptrend, rallying toward the $0.03349 mark. This zone now acts as a liquidity sweep. Following that surge, the market entered a confirmed downtrend, as shown by consistent lower highs and lower lows. Significantly, the market structure shifted in mid-May, initiating this reversal.
Source: Crypto Patel
In early June, price action tried to reclaim lost ground but met resistance at the overlapping supply zone between $0.02500 and $0.02600. This region failed to allow upward continuation. Moreover, the price tapped into the Fair Value Gap (FVG) between $0.02350 and $0.02500 but faced a clear rejection. This reinforced bearish sentiment and signaled smart money repositioning to the downside.
Targeting Lower Liquidity Zones
Currently, VeChain trends toward the $0.02000 support. However, technical projections anticipate further decline toward the $0.01771 liquidity pool. This zone reflects a past inefficiency that the price has not revisited. Besides, the rejection from the FVG and overlapping resistance further strengthens this outlook. Traders now watch $0.02341 as a key short entry, with a stop-loss at $0.02636.
Additionally, the market shows no bullish reversal indicators. Each failed breakout attempt confirms ongoing weakness. The chart’s structure remains firmly bearish. Hence, unless price breaks above $0.02600, downside targets remain in focus. Moreover, volume data suggests declining buyer interest. This supports the continuation of the bearish trend in the near term.
