Let's quickly dive into VET, a Layer 1 project with a market cap of $2.37 billion, currently ranked 41st in coin market cap.
📊 In the 4-hour timeframe, you can see that a descending triangle has formed, and the floor of this triangle at $0.03068 has been broken, with the price now touching an important daily support at $0.02673.
⚡️ The RSI oscillator, following the triangle break, entered the oversell zone and, after concluding the downward leg, has rebounded above this zone, approaching the 50 area.
⭐ The volume aligns with the downward trend, and if the support at $0.02673 breaks, we could witness the next leg down. The next price support would be at $0.02406.
📈However, if the price moves back above $0.03068, it could indicate that the downward trend has ended. In this case, a risky long trigger would be at $0.03580, and the main long trigger would be at $0.03958. This reversal would suggest potential upward momentum, providing opportunities for long positions.
📊 In the 4-hour timeframe, you can see that a descending triangle has formed, and the floor of this triangle at $0.03068 has been broken, with the price now touching an important daily support at $0.02673.
⚡️ The RSI oscillator, following the triangle break, entered the oversell zone and, after concluding the downward leg, has rebounded above this zone, approaching the 50 area.
⭐ The volume aligns with the downward trend, and if the support at $0.02673 breaks, we could witness the next leg down. The next price support would be at $0.02406.
📈However, if the price moves back above $0.03068, it could indicate that the downward trend has ended. In this case, a risky long trigger would be at $0.03580, and the main long trigger would be at $0.03958. This reversal would suggest potential upward momentum, providing opportunities for long positions.
💥 Don’t Miss Out!
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t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.