VeChain Price Plunges Amid US Tariff War Fears: Will $0.018 Hold?

Trapped in a falling wedge, VeChain (VET) signals a potential touchpoint at $0.018 despite the network's fresh recovery in Q1 2025. With the US President signing an executive order to initiate tariff wars, global economic uncertainty has caused a 3.49% pullback in the crypto market. Amid this decline, VeChain's token price dropped by 7.79% on April 2. The sudden intraday pullback has intensified bearish pressure around the $0.020 psychological mark. Could this surge in supply lead to a further drop to the $0.018 level for VET prices? VeChain Price Analysis  On the daily chart, VeChain's price action reveals a falling wedge pattern. Within this pattern, the VET token price is experiencing a bearish reversal from an overhead resistance trendline.

The falling wedge pattern is typically known for leading to a bullish breakout. However, the increasing selling pressure amid uncertain market conditions raises concerns about a prolonged correction. The token price is nearing the $0.020 support level within the wedge. According to the pivot point indicator, the S1 support level at $0.021 is currently holding the price amid rising supply pressure. The short-term bullish hold resulted in a 1.09% intraday recovery, pushing the current market price to $0.021831. However, the overall decline in bullish momentum suggests a potential for further correction. The daily RSI also reflects a weakening bullish trend, hovering slightly above the oversold boundary level. VeChain Network Hits New Highs Despite the increased volatility in VET’s price action, the VeChain network has experienced a significant recovery. In Q1 2025, active accounts on the VeChain network increased from 9,000 to a three-month high of 74,491. As of April 2, 2025, the active accounts on the network stand at 37,114.

Analyst Highlights Key Development for VeChain Michael van de Poppe, the founder of MNConsultancy, anticipates an upswing for VeChain. In a tweet, he emphasized VeChain’s upcoming "Renaissance" launch in July 2025, which will include a full update to the tokenomics and introduce a new use case for VeChain. With a refreshed tokenomics structure, VeChain could experience a significant surge in adoption. Additionally, the network has secured the MiCAR license in European markets, which is likely to drive further adoption by European enterprises. Finally, governance proposal updates scheduled for Q2 2025 are expected to improve rewards for participants within the VeChain ecosystem. https://twitter.com/CryptoMichNL/status/1907055948033642887 VET Price Targets Extend to $0.030 Based on price action analysis and upcoming fundamental updates, VET is poised for a potential bullish breakout. However, the VET price may continue to fluctuate within the falling wedge pattern for the time being. This could lead to a quick touch at the S2 pivot support level of $0.01820. Should a bullish breakout occur, it would likely challenge the R1 pivot resistance level at the $0.030 psychological mark.