- VeChain shows early signs of reversal after a 70% decline, with bullish wedge and accumulation patterns pointing to upside potential.
- VET breaks out of a long-term falling wedge, forming a rounded bottom as buyers return and price targets aim toward $0.05300 by June.
- Consistent support levels and increasing bullish momentum suggest VeChain may be entering a new accumulation and recovery phase.
VeChain (VET) appears to be showing early signs of a bullish reversal, according to recent TradingView updates from CryptoBusy and LLuciano_BTC. After months of consistent decline, VET now trades at $0.02355, reflecting a 1.60% daily increase. The price currently sits above key support, suggesting possible bottoming. CryptoBusy highlights a bullish wedge on the 3-day timeframe, indicating that VET might have finally found a floor. The descending channel, active since November 2024, has held prices in a downtrend. However, recent candles are showing signs of stabilization and accumulation.
Besides that, the chart shows that VET dropped nearly 70% from its previous peak of $0.08. This peak followed a dramatic rally from $0.02 in October 2024. Consequently, the strong rise and steep fall create a classic parabolic cycle pattern. Four yellow arrows mark support levels around August, September, October 2024, and March 2025. These zones align with key accumulation phases.
Moreover, the latest price bounce occurred near the lower channel boundary. Several small green candles in April 2025 hint at increased buyer interest. Significantly, a horizontal support line sits near $0.01857, offering a technical cushion for potential pullbacks. Although VET remains in a broader downtrend, price action suggests a potential reversal may be underway.
Breakout Confirmed on Daily Timeframe
Additionally, LLuciano_BTC confirms a breakout from a falling wedge pattern on the daily chart. The wedge had been in place since December 2024, compressing prices for months. In late March 2025, VET broke out above the upper trendline, signaling a shift in momentum. A rounded bottom has formed since, adding further bullish confirmation.
A projected path is shown via two green arrows targeting $0.05300 and higher by June 2025. Key resistance levels include $0.02500 and $0.05300. These levels mark important tests for continued bullish progress. The analyst also highlights VeChain’s strong fundamentals and ongoing development behind the scenes.
