VETUSDT Descending Channel: Potential Breakout or Breakdown?Yello, Paradisers! Have you been keeping an eye on VETUSDT? The market is at a critical juncture, and you don't want to miss out. Let's dive in!
💎VETUSDT has formed a descending channel and recently bounced from a bullish order block after taking liquidity, increasing the probability of a bullish move.
💎For a confirmed bullish move, we need a breakout of the descending channel and the resistance zone together. This will significantly increase the probability in our favor.
💎If a pullback occurs, we might see a potential double bottom forming from the bullish order block. However, we need an I-CHoCH (Internal Change of Character) in lower time frames to confirm a bullish market structure.
💎If there is a breakdown of the bullish order block and a candle closes below it, our bullish scenario will be invalidated.
Remember, the market is a game of patience and strategy. Stay focused, Paradisers!
MyCryptoParadise
iFeel the success🌴
VETUSDT.3S trade ideas
VET Green Light: Buy Now, Reap the Rewards LaterVeChain (VET) - Fundamentals and Recent News (as of March 27, 2024)
Fundamentals:
Enterprise-focused blockchain platform: VeChain aims to address data challenges in various industries using blockchain technology, smart contracts, and the Internet of Things (IoT).
Dual token system: VET is the main token used for governance and various activities on the VeChainThor blockchain. VTHO, another token, serves as "gas" to pay for transaction fees.
Real-world applications: VeChain is involved in supply chain management, product authentication, sustainability tracking, and more.
Recent News:
Price increase: VET has seen a price increase of around 6% in the last 24 hours (as of March 27, 2024).
Market position: VET's current market capitalization is around $3.3 billion, ranking it roughly 44th among cryptocurrencies.
Disclaimer:
Investing in cryptocurrency involves a high degree of risk. This information should not be considered financial advice. Do your own research before making any investment
Keeping an Eye on $VET! 📈 Potential Bullish Move Amid Pullback💎VET is currently exhibiting a bullish market structure and undergoing a pullback.
💎If VETUSDT demonstrates an Internal Change of Character (I CHoCH), it could indicate a bullish move, especially since it has touched the previous resistance zone, which may now act as support after being broken.
💎In the event of a breakdown below this zone, a bounce can be expected from the supportive trendline, but confirmation is necessary before making any bullish decisions.
💎However, if both of these key bullish levels are breached, it would be considered a bearish scenario. It's advisable to refrain from trading until clearer price action for the bearish side emerges.
VETUSDT IDEAUPDATE
Vet is ready for a good bullish wave after breaking the falling wedge pattern.
Maximum chance to hit our target in next few days.
COIN DETAILS
The live price of VeChain is $ 0.030187 per (VET / USD) with a current market cap of $ 2.20B USD. 24-hour trading volume is $ 40.98M USD. VET to USD price is updated in real-time. VeChain is +0.67% in the last 24 hours with a circulating supply of 72.71B.
VETUSDT (VeChain) Bullish for Long TermHello Friends,
Vechain offers an innovative way to use Blockchain technology which improves global supply management using RFID etc. This technology may transform supply chain completely transparent among all the stakeholders. Its aim to drive adoption of Block chain technology, smart contracts more cheaper and efficient.
Currently on chart it has come down to test Trend Line and may bounce back anytime to test higher highs. I have taken positions for long term and will this for good profits.
Please consult your financial advisor before taking any positions.
Thanks
Learn with Nikhil
💡Don't miss the great buy opportunity in VETUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.02436).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. VETUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
Take Profits:
TP1= @ 0.02582
TP2= @ 0.02659
TP3= @ 0.02722
TP4= @ 0.02867
TP5= @ 0.02987
SL= Break below S2
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💡Don't miss the great buy opportunity in VETUSDT
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.02849).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. VETUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 76.
Take Profits:
TP1= @ 0.03008
TP2= @ 0.03311
TP3= @ 0.03494
TP4= @ 0.03695
TP5= @ 0.04380
SL= Break below S2
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VeChain (VET) Price Prediction 2022 - Crypto AnalysisVeChain (VET) Price Prediction 2022
VeChain holds the 37th position on CoinGecko right now. VET price prediction 2022 is explained below with a daily time frame.
The above chart of VET laid out the horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
Currently, VET is in the range of $0.02545. If the pattern continues, the price of VET might reach the resistance level of $0.03322. If the trend reverses, then the price of VET may fall to $0.02361, and $0.02071.
VeChain (VET) Support and Resistance Levels
The below chart shows the support and resistance level of VET.
From the above daily time frame, we can interpret the following as the resistance and support levels of VET.
Resistance Level 1 $0.02667
Resistance Level 2 $0.03366
Resistance Level 3 $0.04358
Resistance Level 4 $0.06823
Support Level 1 $0.02025
VET Resistance & Support Level
The charts show that VET has performed a bullish trend over the past month. If this trend continues, VET might run along with the bulls overtaking its resistance level at $0.06429.
Accordingly, if the investors turn against the crypto, the price of the VET might plummet to almost $0.01284, a bearish signal.
Comparison of VET with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and VeChain (VET).
From the above chart, we can interpret that the trend of VET is more similar to that of BTC. Though the three cryptos seem to move in a similar trend, the trend of VET slightly differs from that of ETH. Notably, when the price of BTC increases, the price of VET also increases. And when the price of BTC decreases, the price of VET also decreases.
💡Don't miss the great buy opportunity in VETUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.04966).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. VETUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 0.05678
TP2= @ 0.06349
TP3= @ 0.07129
TP4= @ 0.07619
TP5= @ 0.08277
SL= Break below S2
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💡Don't miss the great buy opportunity inVETUSD @vechainofficialTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.06848).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. VETUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 85.
Take Profits:
TP1= @ 0.08002
TP2= @ 0.08815
TP3= @ 0.09610
TP4= @ 0.10308
TP5= @ 0.10834
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
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💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️