- VeChain (VET) is retesting a key breakout zone with strong support between $0.02703 and $0.02936.
- A move above $0.02936 can propel the price up to $0.030 or higher if volume is involved in the rally.
- A failure to hold $0.02703 may trigger a decline toward $0.0255, especially if broader market sentiment weakens.
VeChain (VET) has returned to a previously established breakout level, drawing interest from traders tracking potential bullish continuation. The zone, marked by prior momentum, is now being retested under growing confluence. Market participants are watching closely to see if a second upward leg will develop.
As of May 19, VET was trading at $0.02729, marking a 4.4% decline with 24-hour volume up over 43.95%. The price action indicates a bearish pattern taking shape above the important support range of $0.02703 to $0.02936. The range has been tested multiple times, holding intraday volatility in place and reflecting low buying interest.
VET Eyes Breakout After Dip: Can History Repeat Itself?
Analyst ChartNerdTA highlights that VeChain (VET) may be repeating a familiar pattern from its earlier market cycle, according to current chart analysis. The asset has shown signs of tracking its historical structure, which included a sharp downward wick before a sustained upward move. If this structure holds, VET could see a brief drop to support before making a push toward key Fibonacci extension levels, particularly the 1.272 and 1.618 zones.
This anticipated move could establish a new local bottom, aligning with past price behavior seen in prior market phases. The 1.618 Fibonacci extension, which was reached during the last cycle, lies near $1.80, while the 1.272 level sits around $0.69. Both levels are being monitored as possible upside targets if current market dynamics persist.
Key Levels to Watch Moving Forward
If VET maintains support above $0.027 and gains momentum alongside broader market strength, it could retest the $0.02936 resistance. A breakout above this level could push prices toward $0.030 or higher, especially if volume picks up.
A failure to hold the $0.02703 support might lead to a steeper pullback to $0.026 or even $0.0255. Negative market sentiment or further declines in Bitcoin could amplify this downside pressure. For now, VET remains range-bound, and this week’s movement will likely depend on whether bulls can defend key support and build toward a reversal.
