thedailychartist

Will VETUSDT close the week above key level again?

Long
BINANCE:VETUSDT   VeChain / TetherUS
Has been ranging for the past 2 weeks but last week closed above 0.0265 (barely) which I think is a key historical level (former highest weekly close for $VET). Market traded back below this level this week which indicated a possible false break but it seems the bulls may yet save the week for VeChain and, with just a couple of hours till weekly close, we may see the price close above 0.0265 again for the second consecutive week.

I do believe this is significant. And it's even better if we close this week above last week's closing price (0.0271).

Note, however, that the market is in a trading range right now so we are not out of the woods yet until we see that follow through buying to get us out of this 2-week price range. But closing the week above 0.0265 again definitely improves the odds toward that end.