- VeChain is struggling under bearish pressure, with resistance at $0.025 preventing any significant recovery.
- VeChain is expected to trade between $0.0225 and $0.0235 in the next eight hours, with a potential drop to $0.0218 if support fails.
VeChain (VET) is currently trading at approximately $0.0228, experiencing a slight dip as bearish momentum continues to dominate. With market volatility remaining high, VET’s price action suggests that sellers maintain control, limiting any significant upward movement. Let’s break down the current technical outlook and what to expect in the next eight hours.
Daily Chart Analysis: Bearish Momentum Holds Firm
VET is struggling below its 50-day and 200-day moving averages, both of which are sloping downward. This reinforces a bearish outlook, making it difficult for buyers to gain traction. The Relative Strength Index (RSI) remains within the neutral 30-70 range, indicating no clear dominance from either bulls or bears. Unless VET reclaims the critical resistance at $0.025, the downside pressure is likely to persist.
Weekly Chart: Strong Resistance Preventing Recovery
From a broader perspective, VET’s price structure remains weak. The 50-week and 200-week moving averages continue to trend downward, acting as significant resistance barriers. If VET fails to break above $0.026 in the coming weeks, a downward move toward the key support at $0.020 could materialize, reinforcing the long-term bearish sentiment.
VeChain: 4-Hour Chart Shows Short-Term Selling Pressure Intensifying
Zooming into the short-term price action, is facing notable selling pressure on the 4-hour chart. The 50-period moving average is sloping downward, while the RSI is nearing oversold territory. Although this suggests a possible short-term bounce, there are no clear reversal signals at the moment.
Price Prediction for the Next 8 Hours
Given the current market structure, Vechain is expected to fluctuate between $0.0225 and $0.0235 in the short term. A break above $0.0235 could open the door for a move toward $0.025, but failure to hold the $0.0225 support level might trigger a decline to $0.0218.
VeChain remains under bearish pressure across all major timeframes. Traders should keep an eye on the $0.025 resistance level as a potential bullish breakout signal. However, until a decisive move occurs, VET is likely to remain in consolidation or continue its downward trend. As always, staying cautious in such volatile conditions is key for traders navigating this uncertain market environment.
