- VeChain (VET) has broken below a symmetrical triangle on the daily chart, signaling a bearish shift supported by rising selling volume.
- The RSI and MACD indicators show weak momentum as VET trades near $0.023.
- Market capitalization dropped from $2.18B to $2.00B between August 29 and September 4.
VeChain (VET) is trading at $0.0234 as of writing, down 2% on the day and 8.4% this week. VET just broke below a key triangle support, flipping market sentiment. With sellers tightening their grip and price hanging near crucial levels, the next move could set the tone—will bulls fight back or is a deeper drop coming?
Bearish Breakdown from Symmetrical Triangle
A recent tweet from Alpha Crypto Signal confirmed VeChain (VET) has broken below a long-standing symmetrical triangle support on the daily timeframe. This bearish breakdown is supported by a spike in volume, pointing to increased selling activity.
The pattern, which previously showed a consolidation phase through converging lower highs and higher lows, has now been invalidated. Price has fallen beneath the base of the triangle, and unless it reclaims the $0.026 level with strong momentum, the move is considered a retest of broken support.
Current price action favors continued downside, with the next support zones identified between $0.022 and $0.020. Volume levels during the decline suggest sellers remain dominant.
Market Indicators Show Weak Momentum
On the 4-hour VET chart, VeChain remains range-bound between $0.0230 and $0.0265, but price continues to post lower highs. The MACD histogram remains flat near the zero line, with both signal lines below the baseline—signaling weak momentum and indecision.
The RSI stands at 38.33, remaining in bearish territory. It has failed to cross above 50 in recent sessions, indicating persistent pressure without reaching oversold levels. Volume, currently at 1.9 million, has also remained muted, further confirming a lack of bullish conviction.
Unless there is a strong uptick in volume, price is expected to drift lower, especially if it breaches the $0.0230 support zone.
Market Capitalization Trends Reflect Selling Pressure
Between August 29 and September 4, VeChain’s market value dropped from $2.18 billion to just about $2.00 billion.This steady drop mirrors overall market uncertainty and trader hesitation.
Attempts to recover above $2.06 billion were quickly sold off, with each bounce met by distribution. As of September 4, the market cap remains near the $2.00 billion level, with no strong reversal evident.
If bearish momentum continues, a move toward the $1.95 billion mark remains possible. Market direction now hinges on volume inflows and broader sentiment across the crypto market.
