This is my first time publishing a chart, I've literally only started learning about indicators etc over the last two weeks, so this could be all completely wrong!
VRA clearly in a downtrend going by the trendlines in the chart, with support lines around 0.25 and 0.2 cents, however RSI is approaching 'oversold' territory on the daily meaning it could be an opportunity to pick up a position, in the event of Bitcoin closing the weekly above 52k which i'm not sure how likely is at this point, that could lead to a trend reversal on other coins such as VRA here, with the upside on the Fibonacci 1.618 being 12 cent giving a TP of 500-600% in the next few months.
Please let me know where I've went wrong or if any of that actually makes sense, the more I chart and make mistakes the more I'll learn haha! :D
VRA clearly in a downtrend going by the trendlines in the chart, with support lines around 0.25 and 0.2 cents, however RSI is approaching 'oversold' territory on the daily meaning it could be an opportunity to pick up a position, in the event of Bitcoin closing the weekly above 52k which i'm not sure how likely is at this point, that could lead to a trend reversal on other coins such as VRA here, with the upside on the Fibonacci 1.618 being 12 cent giving a TP of 500-600% in the next few months.
Please let me know where I've went wrong or if any of that actually makes sense, the more I chart and make mistakes the more I'll learn haha! :D