VeChain (VET) is holding its ground as it trades at $0.02607, showing a small but positive 0.24% rise. The last 24 hours have seen trading volume hit $41.34 million, reflecting a 4.71% increase. While the weekly chart shows a decline of 9.38%, the recent price stability brings cautious optimism to investors watching short-term movements.
Market watchers are paying close attention. Despite a dip earlier in the week, buyers seem to have returned. The current support level is firming up, and short-term traders are eyeing a bounce from this zone. The stability above the $0.026 mark has made the market more attentive to possible breakout signs.
VeChain Retests Breakout Level
Crypto analyst Jonathan Carter highlights VeChain’s retest of its breakout level as a key moment. He notes the validation of the MA 100 as a support on the daily chart, which could signal a major shift. Strong buying volume following this retest has shown early signs of a bullish wave. Traders are positioning themselves ahead of potential target levels.
Carter mentions the next resistance points at $0.027, $0.030, $0.034, and beyond. If VeChain can sustain this momentum, reaching $0.049 and $0.056 may be possible. These levels offer solid reward-to-risk ratios for swing traders. The confirmation of trend strength could draw in more volume from both retail and institutional buyers.
Long-Term Holders Stay Bullish on VET
According to DigitalCoinPrice, VeChain could revisit the $0.0569 level by year-end. This would mark a major recovery from earlier dips and position VET for a breakout in 2025. The token briefly touched $0.0573 in early January this year before falling below $0.0408, a critical threshold it hadn’t broken since 2021.
Long-term holders are optimistic. Analysts are of the opinion that the coin is on its way to recover and potentially even surpass its all-time high of $0.28. The next couple of months will define the direction. Projections are calling for a $0.0540 to $0.0569 level on the short term ahead, reflecting around a nearly 100% upswing from where they are today.
CoinCodex also weighs in, forecasting a July price range between $0.02504 and $0.028096. The average estimate sits at $0.026188. If realized, current buyers could see an 8.16% return on investment. Though modest, such gains are attractive in today’s sideways market, especially with strong support levels holding.
