VeChain VET Drops 9% Weekly Amid Key Resistance Test

VeChain’s native token, VET, is currently navigating a pivotal phase as the broader cryptocurrency market remains in a state of consolidation. Over the past 24 hours, the token has dropped more than 5%, and the weekly decline exceeds 9%, bringing the price down to approximately $0.024. This downward movement has intensified scrutiny among traders and analysts, with many watching closely for signs of a potential reversal [1].

Michaël van de Poppe, a prominent market analyst, has suggested that the recent sell-off could be a precursor to a larger bullish move. He emphasized that projects with strong fundamentals, such as VeChain, are well-positioned to benefit from an eventual market-wide recovery. A critical resistance level for VET is currently at $0.03. If this level is successfully breached, it could signal the beginning of a new uptrend and attract renewed buying interest [1].

In addition to price action, van de Poppe highlighted the StarGate staking program as an attractive option for VET holders. The initiative offers Early Bird rewards exceeding $12 million, which may encourage token retention and participation without the need to sell. This approach could help reduce market pressure on VET while also incentivizing long-term holding [1].

Despite the recent weakness, VeChain maintains a strong market presence with a capitalization of over $2 billion and a daily trading volume nearing $64 million. These metrics suggest a level of stability that could support a swift recovery if buying pressure increases and the key resistance level is taken out [1]. The broader altcoin market appears to be in a similar holding pattern, with tokens like Chainlink and Avalanche also struggling to find direction. Meanwhile, the crypto Fear and Greed Index continues to reflect cautious market sentiment, indicating that psychological factors may play a significant role in determining the next move [2].

Traders are now focused on whether VET can flip a key technical level and begin a new upward trajectory. A successful breakout would not only validate the token's resilience but also serve as a potential catalyst for a broader altcoin rally. However, continued downward momentum could reinforce bearish sentiment and delay a recovery in the overall market [3].

As the situation unfolds, all eyes remain on VeChain's ability to stabilize and demonstrate strength. A positive outcome could provide much-needed optimism in an otherwise uncertain environment, while a failure to reverse the trend may signal deeper challenges for the sector.

Source:

[1] VeChain Faces Crucial Test at Amid Market Recovery Hopes (https://coindoo.com/market/vechain-faces-crucial-test-at-amid-market-recovery-hopes/)

[2] Chainlink Price Prediction 2025, 2026, 2027-2031 (https://www.cryptopolitan.com/chainlink-price-prediction/)

[3] Avalanche Fear and Greed Index | Multiple Timeframes (https://cfgi.io/avalanche-fear-greed-index/)