VET dey on downtrend: key supports $0.0069/$0.0067, risk wey join BTC
VeChain (VET) dey for short-term downtrend near 0.01 level. Spot price dey about $0.006917, don drop 4.36% in 24h, while daily volume don calm down to around $6.49M — this one show say buyers no dey active well and sellers still get control. Technical bias still bearish: RSI(14) dey around 40, price dey below EMA20, and Supertrend tone dey negative.
Traders suppose watch VET for clustered supports at $0.0069 and $0.0067, with deeper line near $0.0065. If price break down under these zones, fit make movement to lower targets waka faster. Overhead resistance dey at $0.0073 and $0.0070, and higher weekly barrier dey near $0.0107. For bullish reversal, VET need to reclaim EMA20 and push RSI above 50 with volume expansion; if not, bearish base case still hold.
Key update for both articles na emphasis say VET get high correlation with Bitcoin (BTC), dem mention am over 0.85. That one mean if BTC weak, e fit quickly make VET downside risk worse, so traders suppose also dey watch major BTC levels when dem dey manage exposure.
Bearish
Both articles dey agree say VET dey trade under key trend filters and e still dey vulnerable unless specific technical conditions improve. For the later update, tone still bearish but dem add emphasis say volume soft (~$6.49M) and need confirmation (VET must reclaim EMA20 and RSI > 50 with volume) before bias fit change. The most trading-relevant link na the high VET–BTC correlation (0.85+): short-term BTC downside fit quickly drag VET lower, wey go raise the chance say support go fail.
Short-term, market dey focus whether VET fit hold $0.0069/$0.0067; if e fail, e fit increase probability say another leg down go happen toward lower targets (including the $0.0065 area). Long-term, a sustained recovery likely need trend reversal signal across moving averages and momentum (RSI get stronger and maybe bullish EMA structure), plus better market participation (rising volume).