VeChain Drops 0.89% Despite Bullish Patterns

VeChain (VET) is currently trading at $0.02009, reflecting a 0.89% decrease on the 4-hour chart after a brief recovery from a significant drop to $0.01843. Despite this short-term relief, the overall trend remains bearish. A multi-timeframe analysis reveals several key patterns, indicators, and levels that could influence future price movements.

A bullish hammer pattern formed near $0.0184, suggesting potential trend exhaustion after a steep decline. The subsequent bullish candle supports the narrative of a short-term reversal. Additionally, VET had been confined within a descending channel, with a recent breakout above $0.0195. However, the price is now retesting this zone, making it a crucial inflection point. On the 15-minute chart, a rounded bottom formation is emerging, indicating accumulation. A confirmed break above $0.0206 could pave the way for a move to $0.0215.

On the 4-hour chart, the price rebounded after breaching the lower Bollinger Band and is now consolidating below the midline at $0.0206. A break above this level would signal a shift in momentum. The MACD has crossed above the signal line on both the 4-hour and 1-hour charts, with the histogram turning green, which is an early bullish signal, although it currently lacks strong follow-through. The RSI has climbed from oversold levels (below 30) to the 45–50 range, indicating diminishing bearish pressure. A move above 55 would confirm a stronger uptrend. Volume surged during the bounce from $0.0184, suggesting institutional interest, but subsequent candles show declining volume, advising caution.

Key support levels are at $0.0184 and $0.0190, while resistance levels are at $0.0206, $0.0215, and $0.0228. VeChain’s long-term fundamentals remain robust, with ongoing growth in enterprise partnerships and sustainability initiatives. However, macroeconomic uncertainty and weak retail momentum are weighing on price action.

If VET can sustain above $0.0195, a rally toward $0.0215 is likely. A breakout above $0.0228 could extend this move. Conversely, failure to hold $0.0200 may drag the price back toward $0.0184. Close monitoring of MACD momentum and volume will be crucial for confirming the next move.