VeChain (VET), a blockchain platform for product traceability and supply chain management, using smart contracts to track products, has sparked renewed interest among investors after a popular technical indicator signaled a potential market rally. The TD Sequential indicator has flagged two buy signals on VeChain’s 4-Hour trading chart, indicating potential bullish strength could be entering the market, according to data shared today by market analyst Ali Martinez. The TD Sequential, a broadly followed technical indicator, identified signs of VeChain’s downtrend reaching exhaustion, indicating a potential bullish turnaround could be coming.
VeChain Signals Recovery Amid Volatility
On-chain metrics show that VeChain is experiencing difficulties maintaining an upside momentum. Its price has been down 11.3% and 36.0% over the past week and month, respectively, making its price currently stand at $0.01549, signaling a phase of consolidation. Since October 17, last month, VET has been trading within a tight range of $0.018 and $0.013, developing a strong support base.
VET prices are not making new lows, but moving in a range. Buyers are entering the market, not aggressively, as they patiently accumulate, waiting for token distributions to come to an end. Traditionally, VET moves sideways before making a tremendous breakout once bearish sentiment subsides. The buy signals on the TD Sequential technical indicator hint that the asset could experience a potential 7x upward from the current price, meaning its price could surge up to $0.10402 in the coming weeks.
Increasing trading volume and surging utility of VTHO, VeChain’s gas token, are key indicators of rising network activity. The recent Integration of Keyrock, a major crypto market maker, as a validator on the Vechain ecosystem is seen as a signal of institutional enthusiasm in the network’s long-term potential. Last month, on October 5, Keyrock joined the VeChain platform as a validator to solidify VeChain’s security and boost network integrity.
What’s Behind VET’s Recovery
VeChain is currently in a reversal zone as the asset firmly holds on major long-term established support levels, preparing for a bullish ascent, according to metrics shared yesterday by market analyst Brian2jene on the X platform. The key catalyst behind the bullish reversal setup is rising interest in VeChain, supported by increasing network adoption across Asia, particularly in logistics and supply chain sectors.
VET currently stands at $0.01549, up 6.8% over the past 24 hours. Despite the small uptick, the asset’s price movement remains strongly optimistic, especially as supply chain businesses in Southeast Asia and China are integrating VeChain in their tech operations. The project’s collaborations with local governments and logistics providers have expanded VeChain’s status as a convenient blockchain for business utilities. As the analyst stated, these partnerships could build VET’s long-term price resurgence.
