• VeChain maintains strong price support even as the broader crypto market faces declines.
• Key support levels are at $0.024 and $0.022, while resistance targets $0.032 and higher.
• Crypto.com’s partnership with the VeChain Foundation boosts institutional adoption and custody solutions.

VeChain (VET) is defying the volatile trend felt in the cryptocurrency market by showing strong price support despite the precipitous declines suffered by Bitcoin and other large-cap cryptocurrencies.

Currently, the price of VET stands at $0.02587. The 24-hour volume is $179.54 million, 237% higher than over the past 24 hours. The market cap of the token is $2.22 billion, evidence of resilient investor demand amidst an overall market dip.

Source: CoinMarketcap

Also Read: Can VeChain (VET) Break $0.0283? Price Prediction Signals $0.032 Ahead

VeChain Could Kickstart an 800% Upside Rally

Technically, VET is maintaining important support levels. Primary support is near $0.024, supported by recent consolidation, and stronger midterm support is near $0.022, serving as a psychological floor to the market.

On the other hand, VET faces the first resistance level of $0.032 before rising to meet a stronger target near $0.25315, observed by crypto analyst Javon Marks. Marks observed that the recent breakout by VET from the previously strong resistance level may trigger an upside rally by 800% or even more and may signal the early start of an important bull run.

Source: X

The spike in trading volume shows increasing market interest and liquidity that tends to foreshadow wider moves on the price. The dual-token nature of VET (value transfer VET and transaction fees VTHO) offers an unusual framework that stabilizes costs, maximizes security, and facilitates deflationary dynamics to encourage more sustainable moves on the price.

Institutional Developments Fuel Confidence

Also contributing to the positive sentiment was the news that Crypto.com had just collaborated with the VeChain Foundation to offer safe custody support for VET and VTHO. Crypto.com Custody provides institutions with insured, regulated, institutional-grade storage featuring multi-user permissions and customizable governance to keep VeChain tokens safe to store, manage, and transact.

“Digital asset institutions require custody solutions that prioritize security and liquidity,” said Eric Anziani, President and COO of Crypto.com. VeChain CEO Sunny Lu added that this partnership will accelerate both institutional adoption and mainstream use through Crypto.com’s robust infrastructure.

Also Read: VeChain Price Analysis: VET Aims for $0.03400 as Buyers Defend Key Support