- VeChain (VET) remains under selling pressure below key moving averages.
- The Interstellar upgrade could support recovery, but VET must reclaim $0.007811.
VeChain (VET) fell 7.35% in the latest session to trade at $0.007455. VET is now below its key short- and medium-term moving averages, although it remains above the longer-term trend.
The decline comes just one day before the planned Interstellar hard fork on VeChainThor. The September 16 upgrade will improve the network’s virtual machine and add Ethereum compatibility, but the upcoming change has yet to provide a clear boost to VET’s short-term price action.
VeChain Faces Weak Technical Setup Ahead of Interstellar Upgrade
VET is currently trading around $0.00745, with the price sitting below both the 20-period and 50-period moving averages on the hourly chart. However, it remains above the 200-period moving average, which offers some longer-term support.
The Ichimoku Kijun stands near $0.007811 and has become an important resistance level. A move above this level could give buyers their first clear indication that selling pressure is easing.
Momentum indicators remain cautious. The RSI is around 41, pointing to weak buying strength, while the MACD continues to show a negative signal. The CCI also gives a Sell signal, and Bull/Bear Power remains negative.
Other indicators provide less direction. ADX and Stochastic RSI do not show a strong trend, while the Awesome Oscillator remains neutral. Overall, the technical picture still favors sellers.
Can VET Recover After the September 16 Upgrade?
VeChainThor is scheduled to activate the Interstellar hard fork on September 16, bringing changes to the network’s virtual machine and adding Ethereum-compatible functionality. The upgrade will not require users to migrate VET or VTHO, and existing contract addresses will remain unchanged.
The update supports VeChain’s longer-term development, but it has not changed the immediate market trend. VET remains under pressure as traders focus more on current price action than the upcoming network improvements.
In the short term, VET could continue consolidating between $0.00716364 and $0.007811. Current signals give a 37% probability of a bullish breakout above the upper boundary, making a move through $0.007811 an important test for buyers.
A break below $0.00716364 could open the door to further losses. On the other hand, reclaiming $0.007811 would weaken the current bearish setup and could provide room for a broader recovery.
Traders Union analyst Viktoras Karapetjanc remains constructive on VeChain’s long-term fundamentals but says VET needs to reclaim $0.007811 before the short-term momentum can turn in favor of bulls.
For now, the Interstellar upgrade provides a longer-term development catalyst, but VET needs stronger buying pressure to translate that progress into a price recovery.
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