VeChain Price Surges 3.2% on Double Bottom Breakout

VeChain (VET) has recently demonstrated a significant breakout from a multi-week downtrend, with its price rising to $0.02507, marking a 3.2% gain in the past 24 hours. This upward movement is supported by a double bottom pattern on the daily chart, a technical structure that has historically indicated strong follow-through and potential for substantial gains.

The double bottom pattern formed after VET tested the $0.0200 level twice, establishing a well-defined base. The price is currently near immediate resistance at $0.02572, with support holding above $0.02424. Historical data shows that the last time VET formed this pattern, it resulted in a rally exceeding 150% within days. Market participants are closely monitoring these conditions, anticipating increased volatility and potential for further gains.

On the 2-day chart, VeChain has broken above a downtrend line that persisted for over 50 trading periods. This breakout is accompanied by a double bottom formation, with the two lows occurring around the $0.0200 level. This area now serves as a critical support level, anchoring the current upward movement. The breakout retest appears to be holding, with price slowly building momentum within a consolidation area between $0.02225 and $0.02424. A daily candle close above $0.02225 has previously acted as an important trigger zone, aligning well with the recent breakout.

With the breakout confirmed and the structure intact, near-term price objectives are set at $0.03000 to $0.03500. These targets are derived from the previous swing move and measured breakout zone. The trading activity around VeChain has increased, suggesting rising market interest. Although volume data remains moderate, the continued price climb implies follow-through is underway. Resistance at $0.02572 is in focus, as a close above this level would open the way to higher targets. Support near $0.02424 provides a base for this move, considered a key validation level for maintaining the trend’s integrity.

Historical chart behavior shows that a breach above resistance tends to trigger swing rallies, especially if momentum holds beyond consolidation. Based on technical measurements, a 15% to 20% price increase may be in play if current support remains intact. This expectation comes from previous moves observed under similar chart setups. As of now, VeChain trades at $0.02565 and holds just under major resistance. Price activity remains within the 24-hour range of $0.02424 to $0.02572. The structure favors a bullish continuation, though confirmation above resistance is required.

The consolidation zone built over the last three weeks serves as the accumulation range. A clean breakout from this area has led to price recovery. The curved trajectory shown in the current chart suggests a projected move toward the $0.03500–$0.07000 zone. However, immediate focus remains on holding above $0.02424 for bullish structure to remain valid. Market attention will likely remain centered on whether the double bottom and trendline breakout sustain higher timeframe support across coming sessions.