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VeChain’s (VET) price experienced significant turbulence over the weekend, with a sharp 8.10% drop on April 3, coinciding with a broader 3% decline in the entire cryptocurrency market. This downturn followed a new U.S. presidential order introducing additional tariff policies, adding to the already strained macroeconomic outlook. As a result, VET has struggled to maintain upward momentum, and the $0.018 support level now stands as a critical threshold for a potential rally.
Currently, VET is navigating within a falling wedge pattern on its price chart, which often signals a future bullish breakout. However, the token is under pressure from an overhead resistance trendline, contributing to downward movement. This, combined with broader market sentiment, has tested VET’s short-term support level at $0.020. On the daily chart, VET is hovering around $0.0212, but concerns are growing as the price struggles to hold above key levels. If selling pressure continues, VET could dip to the S2 level at $0.01998, where buyer support may emerge — or further weakness could prevail.
Despite the price struggles, the VeChain network is seeing strong growth in user engagement. Active accounts surged from 9,000 to over 74,000 in Q1 2025, signaling rising traction. By April 2, the active accounts had settled at 37,114, a sign of ongoing user interest despite price fluctuations.
Adding to the positive narrative, VeChain secured a MiCAR license in Europe, which could pave the way for broader adoption by European enterprises. If successful, this move could serve as a catalyst for a VET rebound.
$VET keeps on delivering.
— Michaël van de Poppe (@CryptoMichNL) April 1, 2025
– Renaissance going live in July '25.
– MiCAR license obtained to service European enterprises.
– Governance proposal updates throughout Q2.
Improved tokenomics and staking rewards for participants within the VeChain ecosystem. pic.twitter.com/mp6MTkzaMm
Looking ahead, the “Renaissance” event in July 2025 promises a significant tokenomics overhaul and governance updates. These changes could breathe new life into VET, potentially driving long-term growth. While VET’s immediate price action remains uncertain, its strong fundamentals and upcoming upgrades may provide a buffer against macroeconomic headwinds.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: VeChain’s VeBetterDAO Visa Card: A New Era for Blockchain Payments—Activate and Earn B3TR
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
