VET has experienced a dump to 0.42 amidst the market wide dump in crypto, invalidating the sideways bound consolidation between 0. 05 and 0.06.
now we are looking at a wedge forming in the medium term trend line , from the bottom on 10th Feb, and the top formed on the 13th of Feb.
2 possible movements according to the chart.
Both are likely movements as the RSI doesnt rule out a breakout from this wedge with sustained momentum. As well as the possibility that the RSI further resets as the candles reach the end of the wedge .
If you do not have a position, enter after the breakout of the wedge , and a retest of the upper wedge line on lower time frames.
Price action to confirm analysis
now we are looking at a wedge forming in the medium term trend line , from the bottom on 10th Feb, and the top formed on the 13th of Feb.
2 possible movements according to the chart.
Both are likely movements as the RSI doesnt rule out a breakout from this wedge with sustained momentum. As well as the possibility that the RSI further resets as the candles reach the end of the wedge .
If you do not have a position, enter after the breakout of the wedge , and a retest of the upper wedge line on lower time frames.
Price action to confirm analysis