VeChain (VET) Targets $0.008 Amid Rising Activity and Interstellar Network Upgrade
Key Takeaways
- •VET trades at $0.007028 with a $604.32 million market cap, rising 1.67% in the past 24 hours.
- •A falling wedge breakout could lift VET toward the $0.0080 level if buyer support continues, with RSI at 71.93 signaling overbought conditions.
- •Derivatives activity is growing, with trading volume up 21.44% to $20.72 million and open interest up 11.22% to $32.74 million.
- •VET ranked first on the DVIO Index Weekly Weight Change Ranking for August 22–28, reflecting rising market interest.
- •The Interstellar upgrade, approved via VIP-255, activates at block 25,902,540 on September 16, adding P-256 passkey verification and BLS12-381 cryptography to VeChainThor.
VeChain (VET) is showing renewed bullish momentum as buyers defend the recovery structure. A falling wedge setup supports the possibility of further upside, while rising market participation strengthens sentiment. VeChain's upcoming network upgrade could provide an additional catalyst for adoption and renewed investor interest.
VeChain is an enterprise-focused blockchain platform launched in 2015, with its VeChainThor network designed for supply chain tracking, product authentication, and real-world business applications — a positioning that has historically tied token interest to announcements of corporate partnerships and protocol development.
At the time of writing, VET is trading at $0.007028 with a 24-hour trading volume of $13.08 million and a market capitalization of $604.32 million. The VET price has surged by 1.67% over the last 24 hours. (Source: CoinMarketCap)
Momentum Indicators Point to a Strong Recovery
According to TradingView chart analysis, VET shows an extended period of range-bound consolidation followed by a strong upward breakout in late August. After bottoming near $0.00420 in June, VeChain fluctuated between $0.00450 and $0.00500 for weeks. A surge in momentum pushed the price sharply past resistance, topping near $0.00750 before stabilizing. (Source: TradingView)
Currently trading around $0.00704, the price attempts to resume its uptrend. Technical indicators highlight solid bullish sentiment, though overbought risks remain. The RSI sits at 71.93, crossing above the 70 overbought threshold. Meanwhile, the MACD maintains a positive histogram with the main line at 0.00053 holding above its signal line, confirming ongoing momentum.
VET Price Eyes $0.0080 on Falling Wedge Breakout
Crypto analyst Crypto With Gopal revealed that VeChain (VET) is showing a potentially bullish technical structure as the price consolidates inside a falling wedge. The pattern reflects weakening selling pressure alongside gradually improving buyer strength. With VET approaching the formation's upper trendline, traders are watching closely for a decisive move that could confirm a shift in momentum and strengthen the broader recovery outlook.
Source: Crypto With Gopal's X Post
A breakout through the falling wedge could give VET sufficient momentum for a stronger rise. With the current bullish formation, there is potential for the price to reach the $0.0080 mark if there is enough support from buyers. However, traders might be looking for some consolidation first before considering the move confirmed.
VeChain (VET) Sees Rising Volume and Open Interest
Coinglass data also pointed to increased activity in VET trading, with the trading volume up 21.44% to $20.72 million. Open interest increased by 11.22% to reach $32.74 million. The rising activity in volume and open interest could mean that more speculators are entering the market. (Source: Coinglass)
Following bullish price predictions and improving technicals and derivatives, the VET price is moving in an upward direction. This move is also supported by the improving trend in the broader crypto market, as the BTC price has started to move upward. Historically, altcoins like VET tend to move in sympathy with Bitcoin's direction, making broader market conditions a relevant factor for the token's near-term trajectory.
VeChain (VET) Tops DVIO Index Ahead of Upgrade
Data from DEFTIndex further showed that VeChain (VET) has taken first position on the DVIO Index Weekly Weight Change Ranking for the week of August 22 to 28, as market interest has grown ahead of the upcoming Interstellar upgrade. This follows the passage of VIP-255 via stakeholder voting; the proposal will take effect at block number 25,902,540 on September 16.
The upcoming Interstellar upgrade is aimed at improving the VeChainThor blockchain with P-256 passkey-enabled verification and BLS12-381 cryptography, while further developing the existing staking economy initiated via Hayabusa. For context, P-256 passkey support is aimed at enabling more familiar security hardware and wallet interactions, while BLS12-381 cryptography underpins signature aggregation techniques used in other major networks for validator efficiency. While such upgrades may benefit network performance and developer participation, it remains to be seen whether this trend will continue after implementation.
What Happens Next?
What's next for VET will depend on how buyers fare in extending their gains and breaking out past resistance at the falling wedge pattern. Such a breakout would make a case for the rally's continuation, with potential for further movement toward $0.0080, while an increase in volumes would favor the move. The September 16 Interstellar activation at block 25,902,540 will also be of interest as a concrete milestone for observers to track.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
