VeChain (VET) has dropped for the last 4 days in a row in what appears to be a bloodbath. Contrary to what you might think, VeChain is actually more resilient than you would believe. Despite its fall, VeChain has been resilient to the same extent as other crypto assets. What is the path to recovery?

• VeChain will encounter major resistance at $0. 06 as it looks for its next bull run.

• The coin is currently trading at $0.045, down around 3% for the day.

• Any bullish breakout will only come if VET clears $0.06.

Data Source: Tradingview

VeChain (VET) – Price prediction and analysis

The resilience that VET continues showing has been very admirable. The coin’s long-term trend remains bearish, however. There are some signs that the coin may be consolidating. Watch out for the $0. 06 resistance.

VET has rejected this price almost every time it tried it in the past weeks. As sentiment in the crypto market improves, VET bulls will target another stab at $0.06. If they are able to pull above it, then we could see a rally that takes the coin well towards $0.08.

This will be nearly 45% higher than the current price. If VET is denied again at $0. 06, it could slide back down to $0. 03 before it tries to consolidate once more.

Why buy VeChain (VET) now?

As mentioned above, VET’s long-term trend has been bearish. The coin has dropped substantially from its highs and continues struggling to find any demand.

But, the fundamentals of VeChain have been exemplary. The long-term outlook is also very positive for VET. Investors have the opportunity to purchase the project at a lower price due to the recent downtrend.