• VeChain has moved back into the ascending trend channel.
  • An intermediate resistance is catching buyers in the question of whether or not to book profits.
  • If buyers can break above $0.16, expect a pop of 22% to the upside.

On September 1, Vechain (VET) price was able to get back in the ascending trend channel after breaking below it the days before. Volume was fading in VET after a failed attempt on August 16 on the upper band of the ascending trend channel. The support came from a very responsive level at $0.11 that originated from VeChain’s high on August 8. After that, the level allowed buyers to get in the price action and buy their way up.

VeChain opens up a fresh can of more profits to come

The incentive for buyers is very attractive and hard to resist. With the trend channel, buyers have a trend line to use for entry each time an upward-moving profit target is at hand. This makes it very hard for sellers to pinpoint a place to load up on shorts against VeChain and keeps buyers in control of the price action for VET.

VET/USD daily chart
VET/USD daily chart

However, buyers will first need to make an effort and push price action beyond $0.16. On September 6, there was a failed attempt to break higher, but buyers refused to make more upside. It will be essential to see in the coming days that the green ascending trend line of the channel is giving enough support for buyers. If that is the case, expect a squeeze against $0.16 and a pop higher if that breaks. 

Once that has happened, expect quite a quick move toward $0.18, where the monthly R2 resistance level is, and beyond that it is just a matter of time before $0.20 will be targeted. 

Sellers will try to keep shorting at $0.16. Once they get stopped after the squeeze against the base trend line of the trend channel though, expect sellers to play the “wait and see” game before getting back in. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

Ripple Price Prediction: How tokenized treasuries could accelerate XRP to $10 by end-2025

The adoption of cryptocurrency-related financial products, including tokenized treasuries, is on overdrive globally, with the focus now shifting to robust networks such as Ripple's XRP Ledger (XRPL).

Sei rallies as Wyoming selects protocol for WYST stablecoin pilot

Sei rallies as Wyoming selects protocol for WYST stablecoin pilot

Sei extends gains above $0.21, decoupling the token from the broader crypto market amid low sentiment and macroeconomic uncertainty. The Wyoming Stable Token Commission selects Sei Network as a candidate blockchain for the WYST, the first fiat-backed stablecoin issued by a US state.

Crypto Today: Bitcoin, Ethereum, XRP nudge higher as geopolitical tensions take a backseat

Crypto Today: Bitcoin, Ethereum, XRP nudge higher as geopolitical tensions take a backseat

Bitcoin bulls step up, pushing the price above $106,000, as Trump said he would delay his decision about launching strikes on Iran for up to two weeks. Ethereum rebounds from the 200-day EMA support at $2,477 amid steady interest in the derivatives market.

Solana eyes trend reversal as bearish momentum bottoms out above $140

Solana eyes trend reversal as bearish momentum bottoms out above $140

Solana experiences a minor uptick of under 1% at press time on Friday, with multiple long shadow candles forming above $140 as bearish momentum fades off. The optimism surrounding Solana is on the rise, as evidenced by the SOL Open Interest reaching a weekly high.

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP