VETUSDT Ascending channel , upward trend towards 0.20$
Hello Traders !
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- VeChain VET on 1D time-frame chart broke above the stiff overhead resistance at 0.15$ on Nov 4 indicating that bulls had overpowered the bears. The price has dipped back to the breakout level and the bears had successfully pulled the price below it and trapped the aggressive bulls down towards support level 0.10$.
-While VET is trading in a ascending channel price is sitting currently on support level 0.10$ where 200 EMA exist also in presence of 0.618 Fibonacci level.
Buyers shall take price higher from there trying to reach the old resistance breaking above it and maybe reach towards target price 0.20$.
- A strong rebound off the support line could keep the uptrend intact and the price may continue to trade inside the channel. The bears will have to pull and sustain the price below the channel ( below 0.10$ ) to gain the upper hand.
- VET on 4H time-frame chart is currently trading in an descending channel since Nov 10 , we would like to see the bulls taking price from there breaking above it at 0.12$ .
Recently news for VET => VeChain got upgraded to proof-of-authority 2.0 consensus mechanism. VeChain is a supply chain tracking system that launched in 2015 and combines physical tracking with blockchain record keeping.
Thank you, Good luck Traders
- Please push the like button if you like the content or drop a comment to share your idea!
- VeChain VET on 1D time-frame chart broke above the stiff overhead resistance at 0.15$ on Nov 4 indicating that bulls had overpowered the bears. The price has dipped back to the breakout level and the bears had successfully pulled the price below it and trapped the aggressive bulls down towards support level 0.10$.
-While VET is trading in a ascending channel price is sitting currently on support level 0.10$ where 200 EMA exist also in presence of 0.618 Fibonacci level.
Buyers shall take price higher from there trying to reach the old resistance breaking above it and maybe reach towards target price 0.20$.
- A strong rebound off the support line could keep the uptrend intact and the price may continue to trade inside the channel. The bears will have to pull and sustain the price below the channel ( below 0.10$ ) to gain the upper hand.
- VET on 4H time-frame chart is currently trading in an descending channel since Nov 10 , we would like to see the bulls taking price from there breaking above it at 0.12$ .
Recently news for VET => VeChain got upgraded to proof-of-authority 2.0 consensus mechanism. VeChain is a supply chain tracking system that launched in 2015 and combines physical tracking with blockchain record keeping.
Thank you, Good luck Traders
thank you traders