📊 🌟"VET Coin Analysis: Turning Point and Opportunities" 🚀💡
🕵️♂️ Let's analyze and review the VET coin together and identify potential entry points to profit from this coin.
📊 In the higher timeframe and weekly chart, we observe an upward trend starting from the point 0.01467. Buyer participation in the market has occurred. After reaching the important weekly resistance of 0.03383 and breaking it, we formed a new resistance at 0.05099. Following this event and seller presence, we witnessed a correction, seemingly returning to the previously lost resistance.
📉 In the daily timeframe, after hitting the resistance at 0.05099, we experienced a correction and a downward movement towards the support at 0.03383. We appear to have a weakening trend, and during this correction, our volume is decreasing, which continues to confirm our upward trend and indicates the absence of sellers in the market.
💰 For a short position, our support is clear at 0.01777. If 0.03383 is broken, we can move to lower support levels and open a short position. However, an increase in volume is necessary when the support is broken.
🚀 But for a long position, interesting events are happening. During the correction, as the volume decreases, we have formed a continuing downtrend line, and we are rising from a tall support line, which is also the 0.382 Fibonacci level.
📈 Therefore, for a long position, we can enter the market earlier after breaking the trend line and confirming the trigger at 0.03760 in lower timeframes.
📝 One noteworthy point is that when we are supported by the 0.382 Fibonacci level, there is a higher chance of breaking point 0, initiating a new upward trend. Hence, the risk is higher, encouraging us to enter the market with a long position sooner.
💡 For buying this coin, we will wait for the break of the 0.05099 ceiling or a strong green candle on the current support. I also recommend examining the VET project, which is for WEB3, before making your purchase.
❗ Another point I noticed in this chart is the fake breakout at the 0.02069 support. We should analyze this strategy, which occurs when we break a support or resistance but move in the opposite direction in the candle. This strategy creates a trend in the market.
🔄 Trading within this strategy involves moving to a lower timeframe after spotting this setup. If we see the first trigger and lose it, we will reopen our position.
📉 Our upcoming supports are 0.02927, 0.02610, 0.02069, and resistances are 0.03760, 0.05099.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
📊 In the higher timeframe and weekly chart, we observe an upward trend starting from the point 0.01467. Buyer participation in the market has occurred. After reaching the important weekly resistance of 0.03383 and breaking it, we formed a new resistance at 0.05099. Following this event and seller presence, we witnessed a correction, seemingly returning to the previously lost resistance.
📉 In the daily timeframe, after hitting the resistance at 0.05099, we experienced a correction and a downward movement towards the support at 0.03383. We appear to have a weakening trend, and during this correction, our volume is decreasing, which continues to confirm our upward trend and indicates the absence of sellers in the market.
💰 For a short position, our support is clear at 0.01777. If 0.03383 is broken, we can move to lower support levels and open a short position. However, an increase in volume is necessary when the support is broken.
🚀 But for a long position, interesting events are happening. During the correction, as the volume decreases, we have formed a continuing downtrend line, and we are rising from a tall support line, which is also the 0.382 Fibonacci level.
📈 Therefore, for a long position, we can enter the market earlier after breaking the trend line and confirming the trigger at 0.03760 in lower timeframes.
📝 One noteworthy point is that when we are supported by the 0.382 Fibonacci level, there is a higher chance of breaking point 0, initiating a new upward trend. Hence, the risk is higher, encouraging us to enter the market with a long position sooner.
💡 For buying this coin, we will wait for the break of the 0.05099 ceiling or a strong green candle on the current support. I also recommend examining the VET project, which is for WEB3, before making your purchase.
❗ Another point I noticed in this chart is the fake breakout at the 0.02069 support. We should analyze this strategy, which occurs when we break a support or resistance but move in the opposite direction in the candle. This strategy creates a trend in the market.
🔄 Trading within this strategy involves moving to a lower timeframe after spotting this setup. If we see the first trigger and lose it, we will reopen our position.
📉 Our upcoming supports are 0.02927, 0.02610, 0.02069, and resistances are 0.03760, 0.05099.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
