VeChain Price Coils Ahead of VIP-255 Upgrade, Resistance Near $0.01 in Focus
The VeChain price has been trading inside an ascending channel on its 4-hour chart, getting tighter as it approaches the upper boundary. This pattern often resolves with a real move once it breaks in either direction.
Traders are positioning around the upcoming VIP-255 upgrade scheduled for September 16. The event has drawn attention because it gives the market a concrete date to trade around rather than relying on sentiment.
The momentum oscillator on the chart currently reads 61.26, sitting above the neutral midpoint despite flashing a bearish tag earlier in this run. This kind of recovery in momentum while price grinds toward the top of a channel is generally read as a constructive sign for a bullish forecast.
A close above $0.007620 would confirm two things at once: a breakout from the ascending channel and a break of an old swing high that has capped price before, opening the path toward $0.008951 as the next resistance and beyond that, major resistance sits at $0.010344.