VETUSDT wants the pullback?VETUSDT is currently undergoing an interesting phase as the price tests the demand zone around the $0.019 area. This level represents a critical region of support where buyers have historically shown strong interest in purchasing VET at this price range.
The testing of the demand zone suggests that there is a significant amount of buying pressure at this level, as investors see the current price as an attractive opportunity to accumulate VET. This zone acts as a point of equilibrium between supply and demand, where sellers are less willing to sell their holdings, leading to a potential scarcity of VET available for purchase.
If the price manages to hold within the demand zone and starts to show signs of upward momentum, there is a possibility that new liquidity could be attracted to the market. Traders and investors who have been waiting on the sidelines may see the price stability and potential for an uptrend as a signal to enter the market, thereby adding new buying pressure.
According to Plancton's rules, which may refer to a specific trading strategy or approach, a breakout above the current price level could present a new long opportunity. A breakout occurs when the price moves decisively above a significant resistance level, indicating a shift in market sentiment and potentially leading to a sustained upward trend.
Traders following Plancton's rules might view the price testing the demand zone as a confirmation of its strength and expect a potential breakout to the upside. They may consider opening long positions, anticipating a continuation of the upward move, and aiming to capture profits as the price potentially climbs higher.
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🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
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