VET Consolidates in Symmetrical Triangle Amid 7.48 Weekly Decline

VeChain (VET) has been consolidating within a symmetrical triangle pattern since May, marked by a tightening range between converging trendlines. This pattern is typically seen as a precursor to a significant breakout, with volatility compressing as the price oscillates within a defined range. The ABCD swing structure, identified by Alpha Crypto Signal, suggests alternating control between buyers and sellers, with each leg aligning with the triangle’s boundaries [1]. The current price of $0.02353 reflects this consolidation, following a 5.99% decline in a single day [2].

A key level to watch is $0.023. A daily close below this threshold may signal a bearish continuation, potentially driving the price toward the $0.021–$0.020 range [1]. This would align with historical demand levels and could accelerate seller momentum if confirmed by increased volume. Over the past 24 hours, VET traded with a volume of $51.98 million, and it has recorded a weekly decline of 7.48, reinforcing the downward pressure [2].

Conversely, bulls have a chance to reclaim control if the price surges past $0.026. A breakout above this level could potentially trap short-sellers and push the price toward $0.030. However, such a move requires a significant shift in both volume and momentum to validate bullish intentions [1]. The EMA (9) and SMA (50) are currently at $0.0244 and $0.0242, respectively, both of which are flattening, reflecting market indecision [2].

Given the current configuration, VET remains in a neutral but tightly compressed state. The triangle pattern suggests that September could be a decisive period, with the outcome likely to set the tone for the next phase of the asset’s movement. Traders and investors are advised to closely monitor price action around key levels, as the market awaits a directional resolution.

Source: [1] alphacryptosign via Twitter [2] coingecko [3] https://coinmarketcap.com/community/articles/68a395595ddfea56882ec614/