Key Insights:
- The VET price trades near $0.0274, testing rising trendline support with a key resistance at $0.0325 for bullish confirmation.
- Futures open interest for VET nears $90M, signaling active trader participation alongside recent price recovery above $0.03.
- VeChain’s market cap holds steady at $2.35B with nearly all supply circulating, reducing dilution risks amid rising volume.
VeChain (VET) is showing promising signs of a potential breakout after trading near a key resistance level. The price currently sits just above a rising support trendline, while volume has increased in recent sessions.
Traders are closely watching whether VET can close above the $0.0325 resistance on the daily chart, which could trigger a bullish momentum. This article examines VeChain’s price action, market data, and technical outlook in the context of a possible run toward $0.15.
Current VET Price Action and Technical Setup
The VET price has been trading around $0.0274 with a modest downtrend over the past day. The price recently tested an upward sloping trendline that has acted as support, but it has yet to decisively break below it.
A pin-bar candlestick near this trendline suggests that buyers have stepped in at this level. This candlestick pattern usually indicates strong support and a potential reversal.
The immediate resistance stands at $0.0325, which has been tested multiple times. A daily close above this level could confirm the start of a bullish wave.
The next price target on the chart is near $0.0386, followed by another resistance zone around $0.0461. A breakout above these levels might lead to higher price movements if buying momentum sustains.
Volume trends also support this outlook. The 24-hour trading volume increased by nearly 5%, showing growing market interest. Volume tends to rise ahead of significant price moves, making the current environment conducive to a breakout.
Market Capitalization and Supply Metrics
VeChain’s market capitalization remains steady at approximately $2.35 billion. The circulating supply is nearly identical to the total supply, which reduces risks linked to future token dilution. This maturity in tokenomics often provides a more stable foundation for price growth.
The fully diluted valuation (FDV) is close to the market cap at $2.37 billion, confirming that most tokens are currently unlocked and trading. This means sudden supply increases are unlikely, which can help maintain price levels during demand surges.
The volume-to-market-cap ratio sits at 1.87%, suggesting moderate liquidity. This level allows for relatively smooth trading activity without causing sharp price swings. It reflects a balanced market where both buyers and sellers are actively participating.
Futures Open Interest and Market Participation
Futures open interest for VeChain has shown a steady increase in recent months, moving alongside the price recovery from late 2024. The open interest nearing $90 million indicates that traders are actively engaged in the futures market. Rising open interest combined with price gains generally points to sustained trader interest.
Historically, peaks in futures open interest have coincided with periods of higher volatility and price movements. Past data reveals that increases in open interest often come before notable price rallies or corrections. This activity suggests that traders are positioning for a directional move in VeChain’s price.
The current elevated futures open interest level means both long and short positions are being opened. Market participants appear ready for volatility, which could lead to larger price swings once a breakout or breakdown occurs.
Potential VET Price Targets and Scenarios
If the currency closes at or above $0.0325 each day, it may show bullish movement. Next, the price could reach $0.0386, at which time sellers may return. If buyers manage to beat this level, $0.0461 is the next important resistance.
In case these breakouts occur, there is potential that VeChain could keep moving upward and eventually reach $0.15. Such a level would be achieved if buying force persisted and the market stay in a good state.
If, however, the trendline is broken or we lose the $0.0247 level, this could cause a more substantial drop. A failure to move above $0.0325 might mean the market will pause as it waits for a further attempt to rise.