Hi all,
I would like to provide an analysis of BINANCE:VETUSDT
We are currently trading above a strong support zone in the range of 0.037 to 0.039 . Moreover, we have established an uptrend starting around 0.015 .
Our initial goal is to remove liquidity from (x) and then test the resistance zone located between 0.060 and 0.068 .
You need to carefully...
The Price has closed below the daily support on 8 May and has also retested the broken. support as new resistance.
A Short can be initiated at Current market price.
This is a SWING TRADE
Entry- 0.0194
Stop Loss- 0.0204
Although if daily candle closes back above the broken support, then exit the trade and no need to wait for stop loss to hit
Target- Final...
We expected a sooner breakout for Vechain to higher levels based on the charts, but instead Vechain broke down continuing the downward trend to our lower support & final support. If Vechain breaches this last resort, all hope in this project will be dead.
It appears mid-march is the area of rebirth.. or the death of Vechain. Time's ticking.
Vehcain is highly oversold in the higher times, especially on the 3D.
There's no other direction for it to go but upward. It's possible that it dips a bit more,
but at some point, it has to go upward. Because there's more room to go downward
with bitcoin, I believe there's a temporary push for some alts and bitcoin. Specifically with
Vechain, because it's...
I think both these options could easily play out, option 1 would take our 4th wave higher before we move down in our 5th. (if option 1 plays out then we would Need to adjust our lower end targets for wave 5.
Option 2 we go straight down to target levels to complete wave 5 and move on ups from there.
Option 3 would be that we just blast off to the moon and all my...
Possible price action for vet in the short term, a move down to this area would complete the final 5th wave structure, at this point i will expect a market reversal and some really nice gains in the coming weeks. GL trade safe
Vetusdt price chart by satveer dular
buy zone == > support1, support2 and support3 (Resistance zone upper green bulish candle close than buy)
short zone == > Local resistnace and major resistance
If we have a soft capitulation buying in the green zone will be a great opportunity to grab some VET
If we have a hard capitulation like back in March of 2020 ( which is unlikely in my opinion) the blue zone would reflect the absolute best buying opportunity.
So VET has been acting exactly as we predicted...
Right now where we´re standing is a key point...
If we go down we might see a price around .07 and a bounce of the trend line.
Then we could see a short consolidation or a move up to our price around .094-96 and if we break this resistance, we might see a new ATH.
It also depends on the 20MA because it has worked...
My sell zone and target for VeChain. I belive VeChain is putting in a bear flag right now. A break above the resistance would invalid this set up.
(Not financial advice)
After this triangle got broken, I expect the price to go up in the next few hours to retest the lower support line of the triangle and to complete that tiny BAT pattern, after that a drop to 0.236 FIB level at around 0.00629 is the likely scenario.
