After the recent VeChain listing, the Bybit exchange has launched an exciting VET Drop event. This event offers 50,000 VET tokens as rewards and will run from April 25 to May 1. Participants will earn exciting prizes for completing simple tasks on the Gleam platform. The recent listing of VeChain for spot trading has boosted the token’s liquidity and popularity.
It has sparked bullish pressure for VeChain. Some analysts are even predicting gains of up to 140% in the coming months. This initiative by Bybit aims to increase community engagement and promote the growth of the VeChain ecosystem. Given the buzz surrounding the VET token, let’s dive deep into the latest VeChain price analysis to assess possible VeChain trends and forecast where the price will go.
VeChain Price Analysis of the Last 24 Hours
VeChain commenced trading at $0.02618 yesterday. With a death cross coming in late on the previous day, a downtrend ensued, pulling the VET price back to $0.02568. A reversal phase was seen, but turned out to be a fake breakout as the general downtrend resumed shortly after. The VET price finally found a base at $0.02530. With the coin oversold at this point, as pointed out by the RSI, a trend reversal occurred. A slow uptrend followed, which pushed the VeChain price up to $0.02567 by 6:30 in the morning.
Chart 1: published on TradingView, April 25, 2025
However, the bears reigned supreme, and another notable death cross formed on the MACD. VeChain subsequently dipped further to find its 24-H low at $0.02485. The RSI again ventured into the overbought region, sparking another turnaround. A golden cross formed on the MACD at 9:05 UTC as a gradual uptrend formed. This uptrend led the VET price to $0.2550 by 14:00 UTC. At this point, the golden cross widened as VET displayed a dramatic spike up to $0.02688. The RSI soared into the overbought region, calling for a sharp reversal.
A death cross soon formed, and a strong correction arrived for the VET token, bringing it down to $0.0262. With a narrow golden cross at 18:00 UTC, the VeChain price ascended to $0.02670. The EMAs worked together for the rest of the day, as no significant trend was seen. VET continued to work in a trading range until 22:50. A bullish VeChain trend was seen, and the price reached $0.02675.
VET Price Movements Today
The bulls thrived, and VET continued to gain, reaching $0.2710 early today. However, a correction came soon as the RSI spiked into the overbought zones. This led VET to find support at $0.02640 at 3:00 UTC. The support held firm, allowing the VeChain trend to reverse. A confident ascent was seen next, as the VET price climbed to $0.02730, facing rejection at that level. Since then, it has stabilized near the resistance. As of the latest update, it trades at $0.02677
VeChain Prediction for the Coming Days
VeChain has received a massive boost since the ByBit listing, growing by 15.6% in the last week. Even today, the VET price has posted a confident 5% gain. More investors will likely react to the token with the event now live. This increased market volume will lead to further interesting price movements in the coming week. If the bulls thrive as they have since yesterday, VeChain may be poised for more gains. However, if VET tests and breaches the current support, retracing back to this level may be a long game.
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