VeChain (VET) is showing renewed bullish momentum, trading at $0.007028 with a 1.67% daily gain and a market capitalization of $604.32 million. Technical indicators point to a strong recovery, with the RSI at 71.93 and a positive MACD. A falling wedge pattern suggests potential upside toward $0.0080, supported by rising trading volume and open interest. VeChain has topped the DVIO Index ahead of its upcoming Interstellar network upgrade, scheduled for September 16, which aims to improve blockchain verification and cryptography.
According to TradingView analysis, VET recently broke out from extended consolidation near $0.00420, surging past resistance to stabilize around $0.00704. The relative strength index (RSI) at 71.93 has crossed above the overbought threshold, while the MACD main line at 0.00053 holds above its signal line, confirming ongoing momentum.
Crypto analyst Crypto With Gopal noted that VET is consolidating inside a falling wedge pattern, reflecting weakening selling pressure. A breakout through the upper trendline could provide enough momentum for a move toward $0.0080, though traders may expect consolidation before confirmation.
Coinglass data shows trading volume increased by 21.44% to $20.72 million, while open interest rose 11.22% to $32.74 million, indicating growing market participation. DEFTIndex reported that VeChain topped the DVIO Index Weekly Weight Change Ranking for August 22–28 due to increased interest surrounding the Interstellar upgrade. The upgrade, approved via stakeholder vote on VIP-255, will take effect at block number 25,902,540 on September 16, introducing P-256 passkey-enabled verification and BLS12-381 cryptography to enhance the VeChainThor blockchain’s staking economy.
