The current price is around $0.0274, which is approaching the supply zone near $0.028 - $0.029.
There has been a recent bullish move as shown by CHoCH, indicating that buyers are gaining strength.
This chart shows that the price is testing a major resistance level, and the outcome at this level could determine the next big move.
A break above this supply zone will see VET turn Bullish and may lead to further upward movement towards higher resistance levels.
Action plan:
Entry: Consider entering a long position if the price closes above the supply zone ($0.028 - $0.029) with strong bullish momentum.
Stop Loss: Place a stop loss below a key support level, such as $0.0246 or $0.0238, to limit potential losses.
Target: Set an initial profit target at the next resistance level around $0.033 - $0.035. Adjust targets based on price action and momentum.
Additional risk factor: lately there are a lot of actions from developers such as mergers and rebranding of tokens which makes futures trading even more scary because at any time you can receive an announcement from Binance that your position must be closed forcibly because the pair you are trading will be delisted no matter what. (read more about the rebranding craze at this link)
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