VeChain Tests $0.0088 Resistance as Analysts Watch for a VET Breakout Toward $0.01

• VET reached around $0.0088 after rising from $0.0044, with $0.0080 now serving as immediate support.
• Egrag Crypto says a September close above $0.0085 could mark VET’s first higher high in the current structure.
• RSI and MACD remain positive, while a break above $0.0088 could target $0.0090-$0.0100 and a drop below $0.0080 risks $0.0075.

VeChain (VET) is testing resistance after a sharp breakout lifted its price toward $0.0088. Analyst Egrag Crypto says a September close above $0.0085 could form the first higher high. However, Crypto With Gopal sees a rising wedge that could expose VET to lower levels if support fails.

VET Pushes Higher After Breakout

VET currently trades at $0.008282, with the latest candle ranging from $0.008277 to $0.008332. The token has risen from roughly $0.0044-$0.0045 earlier in the chart. More recently, VET moved from around $0.0070 and crossed $0.0075-$0.0080. 

The move then reached a recent high near $0.0088. Volume also increased during the breakout, with current VET volume around 3.28 million. However, the rejection near $0.0088 has placed that area under pressure.

The latest price action therefore leaves $0.0080 as the immediate support level. Below it, traders are watching $0.0075 and $0.0070.

Analysts Track Monthly Close And Wedge

Egrag Crypto said VeChain (VET) could print its first higher high if September closes above $0.0085. There were 11 days left before the monthly candle closed. According to Egrag Crypto, the level could represent a meaningful shift within the current structure. 

He also urged traders to watch the monthly close closely. Crypto With Gopal presented a different setup using a rising wedge. The analyst placed resistance around $0.0089 as VET approached the wedge’s upper boundary.

https://twitter.com/cryptowithgopal/status/2101263680721817615?s=20

Momentum remains extended under that setup. A rejection could send VET toward $0.0070 first, while the projected target is near $0.0038.

RSI And MACD Keep Momentum In Focus

The four-hour RSI is at 58.59, while its moving average is at 65.91. RSI has retreated from overbought territory without entering bearish territory. Meanwhile, the MACD remains above its signal line. The MACD reads 0.000289 against 0.000248, with a positive histogram at 0.000041.

Source: TradingView

Momentum has moderated, although the bullish crossover remains intact. Therefore, $0.0088 remains the immediate resistance level. A sustained move above $0.0088 would put $0.0090-$0.0100 into focus. However, losing $0.0080 could expose $0.0075 before another upward attempt.