VeChain surges 15% in 24 hours as VET tests $0.0073 resistance

VeChain rose 15 percent to near $0.0073 in 24 hours, extending a 48 percent gain since Aug. 19 as capital rotated into altcoins.

CoinGlass liquidation heatmaps show key magnetic zones around $0.005 and above $0.0062 were both breached decisively, with no significant liquidation levels built up overhead over the past three months. Daily trading volume has been elevated compared to the 20-day average since Aug. 19, while open interest and volume upticks showed buying pressure in both spot and perpetuals markets.

The golden pocket between the 61.8 percent and 78.6 percent Fibonacci retracement levels at $0.00619 and $0.0073 is being tested at the time of writing. The swing structure captured by the Fibonacci retracement levels remains bearish despite the recent rally, reflecting a long-term downtrend that has not yet been shaken off.

A breakout past $0.0081 would confirm a bullish trend shift, but until then, traders and investors may opt to lock in profits. If VET fails to hold above the $0.0073 resistance, the altcoin could face a significant reversal, potentially impacting short-term traders and broader altcoin sentiment.

The rally came alongside Bitcoin's advance, which imparted bullish confidence to the broader altcoin market. Speculative activity has helped sustain momentum, with the local high at $0.0055 flipped to support in recent days. As Bitcoin approaches a key supply zone, the chances of a sell-off increase, which could drag VET lower.

VeChain operates a blockchain platform focused on enterprise supply chain management, with partnerships spanning logistics, automotive, and food safety sectors. The token's recent surge comes as the broader crypto market has seen renewed risk appetite, with Bitcoin leading the charge and altcoins following suit. Ethereum and other large-cap altcoins have also posted gains, though VET's 48 percent move over the past week has outpaced most peers.

The key question for holders is whether the move can continue or if it is time to start taking profits. With the golden pocket resistance zone now being tested, the next few trading sessions will be critical in determining whether VET can sustain its momentum or face a rejection that could erase recent gains. A decisive break above $0.0073 would open the path toward $0.0081, while a rejection could trigger a pullback toward the $0.0062 support zone, where buyers previously established a foothold.

For traders, the elevated volume and open interest suggest the move is backed by genuine buying interest rather than a short squeeze. However, the persistence of the long-term downtrend means the rally may be short-lived if broader market conditions deteriorate. Bitcoin's ability to hold above its current levels will likely determine whether VET can extend its gains or face a sharp reversal.

This article is for informational purposes only and does not constitute investment advice.