Hello Traders!
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-Following VET recently it shows an interesting pattern taking place , price retested level of support 0.075$ several times after sellers failed to create a new lower low meaning they lost their momentum , price into consolidation since beginning of December.
- Trading volume is low , would like to see a decent amount of buying pressure on our last support in order for buyers to push price higher to the next levels 0.10$-0.11$ where it would confirm the upward trend knowing that EMA200 is holding this level and acting as non-horizontal resistance.
- On the long term trend VET is bullish taking close to 1D time frame chart we can see VET is into consolidation awaiting a confirmation from buyers to take price higher, if failed price could breakdown towards level of support 0.055$-0.060$.
Support Zones:
0.035$-0.040$
0.055$-0.060$
0.070$-0.075$
Good Luck Traders!
- Please push the like button if you like the content or drop a comment to share your idea!
-Following VET recently it shows an interesting pattern taking place , price retested level of support 0.075$ several times after sellers failed to create a new lower low meaning they lost their momentum , price into consolidation since beginning of December.
- Trading volume is low , would like to see a decent amount of buying pressure on our last support in order for buyers to push price higher to the next levels 0.10$-0.11$ where it would confirm the upward trend knowing that EMA200 is holding this level and acting as non-horizontal resistance.
- On the long term trend VET is bullish taking close to 1D time frame chart we can see VET is into consolidation awaiting a confirmation from buyers to take price higher, if failed price could breakdown towards level of support 0.055$-0.060$.
Support Zones:
0.035$-0.040$
0.055$-0.060$
0.070$-0.075$
Good Luck Traders!