VeChain (VET) is currently floating along an important technical support level on Wednesday, February 11, which is the lower end of a descending channel.
According to Jonathan Carter, a prominent analyst in the field of crypto, even through all of this selling, this support continues to hold, and now some buying interest is coming in, which could be an indication of an imminent trend reversal.
This will be an important test for VET to break free from its current downtrend and sustain any upward movement. A descending channel is often an indicator of a bearish trend, but its bottom line is often a strong support level.
For VET, this has been true as its price has fluctuated, implying that a breakout might be imminent if this level continues to be defended. A bullish trend might be possible if this level holds.
Also Read: VeChain Bulls in Action: VET Set to Hit $0.0202 and Beyond!
Vechain (VET) Could Surge to $0.16 If Support Holds Strong
Experts are observing some key levels of resistance for the VET token, which are $0.015, $0.030, $0.055, $0.080, and $0.160.
A jump over these levels may lead to a bullish trend, which can improve the sentiment of investors. Strong support levels at the lower end can lead to sharp, explosive price movements for the token.
Source: Jonathan Carter X Post
The coming days will be important in gauging whether the support level holds firm. If the price continues to be above or at $0.008, there is a possibility that a rally will be initiated, and the short-term price target will be $0.160.
VET Momentum Indicators Point to Downward Pressure
Although the outlook seems positive, the price chart of VET from TradingView, provided on Wednesday, February 11, shows that the price of the token is showing signs of going lower.
This is due to the recent dip in the token’s price from $0.00832 to $0.00728, which almost touched the lower bound of the current range.
Source: TradingView
The momentum indicators like RSI and MACD support the bearish momentum as well. The RSI is at 37.28, indicating that the token is close to the oversold zone.
The MACD indicator also shows a slightly bearish trend as the shorter average is below the longer average. The MACD histogram also has negative bars, indicating the downward trend might continue in the near future.
Also Read: VeChain Q4 2025 Breakdown: VET, VTHO, and DeFi Take Major Hit
