Against the backdrop of maintaining purchases this week, there is a fairly high probability of a new high for VIB, which has already given 6 waves of 25-70% over the last two months. Attempting to grow against the established bearish trend on the monthly chart from most levels results in technical pullbacks to the base of the previous figure, providing new opportunities for scalping while the token remains in a fairly oversold position with low risk of drawdown. For now, the goal in a calm market is to continue the reversal of the annual candle with an attempt to test the range of 0.15-25.
As of today, we are drawing a shadow for the new weekly candle. The main reversal zone is the flat range of 0.0875-950 near the strong established support level of 0.09. Opening the month above 0.075 signals an attempt to consolidate above 0.1. Opening the second half of the month above 0.09 supports this momentum.
In an optimistic scenario, and in the absence of a deeper pullback at the tops, a reversal and return to a bullish trend for VIB is possible as early as today with the current daily candle reversing to bullish. With lower volatility and the new daily candle closing above 0.09, a return to the highs is likely within a couple of days. If a reversal happens today or tomorrow, there is a chance of a return to the growth top on Binance even with a small percentage increase in price, considering the low-volatility market. This could lead to a sharp influx of liquidity and a new breakout, which we observed over the weekend. The new wave could bring about a 50-70% rise at a minimum.
In an extremely negative market and with tops being broken, there is a likelihood of a deeper retest of 0.075-80. As of today, a retest of this range is more likely at the end of the month after a new high and in the absence of a price consolidation above 0.125, or upon a bounce from this level with a third wave.
Aside from OG and TROY, VIB has the highest targets among coins without a monitoring tag.