$VET

Technical Analysis of VET/USDT - Targeting Key Levels 🎯

The VET/USDT pair has been showing significant price movement recently. As of now, the price stands at 0.04525 USDT (approx. Rs 12.63), and it’s crucial to monitor the key support and resistance levels for potential trading opportunities.

Key Levels to Watch:

1. Support Level: 0.04483 USDT

This price point has acted as strong support, with the price bouncing back after testing this level in the last 24 hours. A break below this level could indicate a bearish trend, with further downside potential.

2. Resistance Level: 0.05195 USDT

The recent 24-hour high suggests resistance near 0.05195 USDT. If the price breaks this level, we may see a rally toward higher targets. This is a crucial level to monitor for a potential breakout.

3. Target 1 - Near-Term Target: 0.04817 USDT

This level has seen some price consolidation and could serve as an intermediate target before testing higher levels. If the price holds steady above this level, it could signal a move toward resistance.

Additional Indicators:

Volume: The 24-hour volume for VET is 744.31M, suggesting significant market activity.

Moving Averages: The short-term MA(5) and MA(10) show some upward momentum, signaling potential bullish continuation.

Strategy:

Bullish Case: Watch for a breakout above 0.05195 USDT, targeting higher levels.

Bearish Case: A dip below 0.04483 USDT could lead to further downside potential.

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