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In this analysis, I’m going to review the VET coin for you. VET is a Layer1 and RWA project with a market cap of 1.84 billion dollars, currently ranked 44 on CoinMarketCap.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, as you can see, this coin experienced a downtrend and eventually reached the 0.01872 bottom. It then received support from that level and began a bullish move.
✨ Right now, a significant resistance is located at 0.02227, which I’ve marked on the chart as a supply zone. So far, it seems the price has been rejected from this area.
🔍 Price has attempted to break this zone three times already. Each time, although it managed to penetrate further, it still failed to break through and got rejected.
💥 With each rejection, the RSI oscillator has also been rejected from near the 70 level and moved downward. If, in future attempts, the RSI enters the Overbuy area, the probability of breaking 0.02227 will significantly increase.
📊 Currently, market volume favors buyers. The buying volume on green candles has increased noticeably. Meanwhile, during the rejection from the resistance zone, the selling volume was very low, which signals strong buyer control.
⚡️ If the downtrend continues and price fails to form a higher low above 0.02020, we can enter a short position upon the break of 0.02020. A break of 39.35 on the RSI would be a solid momentum confirmation for this setup.
📉 The main short position can be opened upon the break of 0.01872. This would confirm the continuation of the downtrend and could lead to a sharp downward move.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review the VET coin for you. VET is a Layer1 and RWA project with a market cap of 1.84 billion dollars, currently ranked 44 on CoinMarketCap.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, as you can see, this coin experienced a downtrend and eventually reached the 0.01872 bottom. It then received support from that level and began a bullish move.
✨ Right now, a significant resistance is located at 0.02227, which I’ve marked on the chart as a supply zone. So far, it seems the price has been rejected from this area.
🔍 Price has attempted to break this zone three times already. Each time, although it managed to penetrate further, it still failed to break through and got rejected.
💥 With each rejection, the RSI oscillator has also been rejected from near the 70 level and moved downward. If, in future attempts, the RSI enters the Overbuy area, the probability of breaking 0.02227 will significantly increase.
📊 Currently, market volume favors buyers. The buying volume on green candles has increased noticeably. Meanwhile, during the rejection from the resistance zone, the selling volume was very low, which signals strong buyer control.
⚡️ If the downtrend continues and price fails to form a higher low above 0.02020, we can enter a short position upon the break of 0.02020. A break of 39.35 on the RSI would be a solid momentum confirmation for this setup.
📉 The main short position can be opened upon the break of 0.01872. This would confirm the continuation of the downtrend and could lead to a sharp downward move.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.