VeChain on the Edge: Can $0.02 Support Hold the Line?

• VeChain must hold $0.02 or risk invalidating its bullish outlook.
• VeBetter apps now track over 5.5M tons of carbon emissions.

VeChain (VET) is facing a pivotal technical moment, with price action testing a significant support level. According to More Crypto Online, VeChain is now testing the $0.021 support, with the $0.02 level marked as critical. The price is moving within a descending parallel channel, reflecting a broader corrective pattern. At $0.02175, VET has dropped 0.35% in the past 24 hours.

Analysts said the current Elliott Wave count indicates Wave Y is nearing completion. This suggests the corrective phase may be ending, though bulls must act quickly to defend key zones. A close below $0.02 would invalidate the current bullish outlook. A breakout above the descending channel would mark the first step toward recovery.

At press time, VET trades at $0.02158, reflecting a slight 0.25% gain on the day. The token bounced back from an intraday low of $0.02139, showing bulls’ efforts to stabilize near-term price action.

VeBetter Super Apps Cross 1 Million Users Each

VeChain reported major user growth across its VeBetter ecosystem. Both Mugshot and Greencart, built on VeChainThor, now boast over 1 million users. Greencart reached the milestone recently, following Mugshot’s earlier achievement.

Greencart promotes sustainable shopping through its “Shop, Scan, Earn” model. Users scan receipts to identify eco-friendly products. AI reviews the data and issues B3TR tokens, which users can spend through Stella Pay or a VeBetter Visa Card accepted by over 130 million merchants.

The platform also collaborates with Too Good To Go to track food waste reduction. VeChain stated that the apps have recorded 5.5 million tons of carbon emissions on-chain. Developers may apply for grants of up to $50,000, and users can onboard via VeWorld, the official wallet.

VeChain’s Web3 strategy focuses on linking real-world behavior with on-chain data, offering utility beyond speculation. The company aims to build blockchain applications that engage large user bases through measurable sustainability.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.