Yello, Paradisers! Is #VET setting up for a breakout play, or are we about to witness another classic bull trap unfold? Let’s dig into what the chart is telling us on #VeChain:
💎After climbing steadily inside an ascending channel, #VETUSDT is now approaching a major resistance zone around $0.02–$0.02. A confirmed breakout above this area would significantly boost the probability of a bullish continuation, especially with the 50EMA providing dynamic support from below.
💎The immediate support zone to watch is between $0.020–$0.022, which aligns with the channel’s lower boundary and a visible demand zone. This is the key level where bulls are expected to step in if #VETUSD pulls back.
💎If buyers defend this zone successfully and price breaks above the current resistance, the next upside target lies at the moderate resistance of $0.031. Beyond that, the strong resistance level at $0.038 will be the real decision point for any sustained move higher.
💎On the flip side, a breakdown below $0.020 would send it to the lower demand zone at $0.016. It would invalidate the bullish setup and open the door for a deeper selloff, potentially forming a new swing low as shown on the chart.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
💎After climbing steadily inside an ascending channel, #VETUSDT is now approaching a major resistance zone around $0.02–$0.02. A confirmed breakout above this area would significantly boost the probability of a bullish continuation, especially with the 50EMA providing dynamic support from below.
💎The immediate support zone to watch is between $0.020–$0.022, which aligns with the channel’s lower boundary and a visible demand zone. This is the key level where bulls are expected to step in if #VETUSD pulls back.
💎If buyers defend this zone successfully and price breaks above the current resistance, the next upside target lies at the moderate resistance of $0.031. Beyond that, the strong resistance level at $0.038 will be the real decision point for any sustained move higher.
💎On the flip side, a breakdown below $0.020 would send it to the lower demand zone at $0.016. It would invalidate the bullish setup and open the door for a deeper selloff, potentially forming a new swing low as shown on the chart.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.
MyCryptoParadise
iFeel the success🌴
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🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.