VeChain (VET) Holds Multi-Year Support as Staking and Ecosystem Growth Fuel Market Optimism

VeChain's native token, VET, is currently trading on a crucial long-term support zone that has held since 2020, with market analysts highlighting its role as a recurring demand region during broader downturns. This support level has historically served as a base for multiple price recoveries, drawing attention from traders monitoring a compression pattern formed by multi-year resistance meeting strong horizontal support.

Community analysts, including CryptoBusy and Altcoin Piooners, note that VET's weekly chart shows stability in this accumulation range, suggesting long-term holders are defending the level. CryptoBusy described the setup as a key area where previous rebounds were initiated, while Altcoin Piooners pointed to potential upside targets of $0.07 to $0.10 if support holds.

Concurrently, VeChain's ecosystem is experiencing significant growth, with the VeBetterDAO initiative adding utility-focused momentum. Staking activity has surged, reaching a total value locked (TVL) of $7 billion through Stargate, as highlighted by analyst FrienDowJones. Early stakers are urged to claim rewards before the full launch in December, with new tokenomics and upgraded staking incentives set to roll out in the coming weeks.

Price action reflects this momentum, with VET witnessing a 31% surge in recent trading sessions, moving from support around $0.014 to approximately $0.004699. Technical indicators, including moving averages and the Ichimoku cloud, show increased volatility and trading volume, reinforcing the asset's dynamic market behavior.