VeChain Is Losing Momentum
VeChain (VET) is down 3.2% this week to $0.0242, underperforming the broader crypto market, where Bitcoin (BTC) has slipped a marginal 0.1% to $118,500. The market is cooling after Monday’s jump, when Bitcoin spiked 3.1% to $122,300 before closing at $118,670. That surge was fuelled by increased capital inflows from pension funds following U.S. President Donald Trump’s executive order allowing digital assets in retirement plans. However, the optimism was tempered by expectations of rising U.S. inflation.
VET attempted its own rally, climbing 3.5% to $0.02593 on Monday, but ended the day down 1.8%. Prices are now hovering near recent lows, casting doubt on any near-term upside. From a technical perspective, the token would need to reclaim and hold above $0.0300 to join any broader market rally, which could then carry it towards $0.0400. At present, however, there are few signs pointing to such a move.
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