Can VeChain Repeat Its 30x Bull Run?

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• VeChain’s price faces short-term bearish momentum, but key support at $0.025-$0.027 may lead to a potential reversal.
• Analysts predict a breakout if VeChain surpasses resistance levels at $0.035, with targets up to $0.09725.

VeChain (VET) has experienced price fluctuations throughout its history. After an 81% drop on March 9, 2020, the market reaction was negative, with many believing that VeChain’s recovery was unlikely. However, the token topped expectations, surging 15x by August 2020. This was followed by a 60% correction, allowing VeChain to rally once again and obtain a 30x increase.

Perspective is Everything: A Look Back at #VeChain’s Market Cycle.

Let’s rewind to March 9, 2020—VET had just suffered a brutal 81% crash. At that moment, sentiment was at rock bottom. The market was convinced: Vechain is dead. It’s never going to pump again. The bear market is… pic.twitter.com/9EmgUGqTzz

— Crypto_Jenny (@REALCryptoJenny) March 10, 2025

The price surged by 15x in the following months, ending in a powerful rally by August 2020. This quick surge caught the attention of traders, analysts, and investors alike, showing that even after crashes, the crypto market can recover strongly.

However, this pullback allowed it to shake out weaker holders and position the market for the next growth phase. As the price consolidated, the market began to show signs of readiness for the next move. Moreover, Fibonacci retracement lines show possible support and resistance levels, highlighting the volatility and key price points that could shape future movements.

Currently, during the time of writing, VET was trading at $0.02306, displaying a decline of 9.95% in the past 24 hours. Despite this short-term setback, the market cap remains strong at $1.98 billion, and trading volume has seen a 24.90% increase. These indicators suggest that the market remains active and engaged despite the price dip, setting the stage for possible future growth.

Technical Indicators Pointing to Potential Upside

Adding to this sentiment, some analysts have remained bullish, with some predicting that VET is currently consolidating in an “assembly area,” a phase where the market awaits the next major move.

As reported in our previous post, the analyst notes that the Fibonacci retracement levels show key resistance levels that traders are watching closely. The first major resistance level lies at $0.035, with higher targets at $0.05925, $0.07697, and $0.09725.​

This pattern hints at the likelihood of another bullish move once these resistance levels are broken. The market carefully observes this consolidation phase to determine whether VeChain can break through these key resistance points. If the price continues to climb, it could set off another bullish trend similar to the one witnessed in 2020.

Bearish Momentum and Support Levels

Despite the positive technical outlook, there are signs of short-term bearish momentum. The Relative Strength Index (RSI) currently sits at 35.23, nearing the oversold region, which could signal an undervalued asset.

However, the market’s current sentiment remains cautious, as the Moving Average Convergence Divergence (MACD) line is still below the signal line, indicating continued selling pressure. The MACD histogram further supports this view, with negative values indicating a strong bearish market sentiment.

Nevertheless, the price is approaching $0.025 to $0.027 in key support zones. This area has been identified as a strong accumulation zone, and if VeChain can maintain support here, it could set the stage for a possible reversal.