VET/USDT Chart Analysis



Graphic Comment



• Trend: The downward long-term trend line on the weekly chart has been broken. This may indicate a long-term trend reversal.


• Target and Prices:


• Resistance points according to the first Fibonacci levels:


• 0.1170 (0.382 Fibonacci level)


• 0.1490 (0.618 Fibonacci level)


• 0.2268 (0.786 Fibonacci level)


• Final target: at 0.5569 levels.


• Current price: 0.03551.



Support and Resistance



• Supports:


• 0.07731 (0.236 Fibonacci level)


• 0.04577 (0.12 Fibonacci level, can also work as support after trend breakout)


• Resistors:


• 0.049 (near-term intermediate resistance)


• Levels of 0.10 can create psychological resistance.



Formations



• Trend Break: A break in a long-term downtrend is a strong indicator of a trend change.


• Fibonacci Levels: Levels that can act as support and resistance during pullbacks.



Indicators



• Volume: There is increasing volume during the trend breakout. This indicates that the breakout is confirmed.


• RSI: It may be approaching the overbought area. A correction may come in case of overbought.


• MA (Moving Averages): It is observed that long-term moving averages are crossed upwards.



Trend Direction



• There is currently an upward trend. The broken trend line may be the beginning of a new uptrend.



Strategic



1. Purchase Strategy:


• Pullbacks at 0.045-0.05 levels can be considered as buying opportunities.


• Long-term positions can be held as long as the broken trend line remains stable.


2. Profit Taking:


• Gradually: at levels 0.10, 0.15 and 0.22.


3. Stop-Loss:


• The level below 0.045, which is below the broken trend line, can be determined as the stop loss level.


4. Risk Management:


• Position size should be adjusted carefully. RSI and volume should be monitored.



Comment



The current structure for VET coin, especially the breakout of the long-term downtrend, offers strong upside potential. However, there may be corrections in the market. Fibonacci levels can be used as a guide in these movements. With the development of the project and the growth of the ecosystem, pricing may be positively affected in the long term.