- VeChain breaks out of consolidation, trading near $0.0297 with bullish momentum building
- RSI enters overbought zone at 76.37, hinting at possible short-term correction
- MACD and Supertrend indicators point to continued upside and trend reversal
- Key resistance levels lie at $0.030, $0.033, and $0.035 with $0.050 as the next major target
VeChain (VET) is making headlines once again after a strong breakout pushed the token above key resistance levels. At the time of writing, VET is trading around $0.0297, marking a notable upward movement that signals a potential shift in market sentiment. This recent rally comes amid increased volatility and technical indicators aligning in favor of the bulls.
Bullish Breakout Pushes VET Above Key Levels
The latest 4-hour price chart shows VeChain surging past the middle range of the Bollinger Bands, now trending toward the upper band near $0.0305. This move confirms a breakout from the extended consolidation phase that dominated much of April and early May.
The immediate resistance lies near $0.030, a psychologically significant level, followed by heavier resistance at $0.033 and $0.035. If VET maintain this momentum, the next major target could be the $0.050 mark, a level last tested in early 2025.
Technical Indicators Support Continued Upside
Several key indicators support VeChain’s bullish outlook. The Relative Strength Index (RSI) has surged to 76.37, clearly entering the overbought territory. This suggests that while the current trend is strong, a short-term correction or consolidation is possible as traders take profits.
However, the MACD indicator adds weight to the bullish case, showing a widening gap between the MACD and signal lines, accompanied by a growing positive histogram, clear signs of increasing buying pressure.
In addition, the Supertrend indicator has flipped bullish, and VET has crossed above the 200-period simple moving average, which often signals a long-term trend reversal. These technical confirmations suggest that the rally has strong foundations rather than being a mere price spike.
While optimism is growing, traders should remain aware of the key support levels in case of a market pullback. Immediate support is seen at $0.0267, which aligns with the breakout point. Deeper support levels lie at $0.0226 and $0.0200, both of which have historically acted as strong accumulation zones.
If VET can break and sustain levels above $0.033 and $0.035, the path toward $0.050 becomes increasingly likely. However, traders should also remain cautious of short-term corrections given the overbought RSI conditions.
VeChain’s technical breakout suggests that the bulls are back in control. With strong momentum, rising indicators, and reclaiming of key resistance levels, VET could be gearing up for a significant rally in the weeks ahead, especially if it maintains traction above $0.030.
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