The VET/USDT perpetual contract on the 1-day timeframe is showing signs of a possible bullish breakout. The chart illustrates a long-term descending trendline, which the price is currently testing. If VET successfully breaks above this resistance, it could trigger strong upward momentum.
A key support and demand zone is visible between $0.020 - $0.022, where buyers have historically stepped in. If the breakout is confirmed, multiple resistance levels are outlined as potential price targets, including $0.03042, $0.03645, $0.04456, $0.05318, $0.05990, and $0.06908. These levels represent key areas where traders might look to take profits.
For confirmation, a daily close above the descending trendline is necessary. With a recommended stop-loss below $0.020 to minimize downside exposure. A breakout could lead to a strong bullish rally, whereas rejection at the trendline may result in continued consolidation. Traders should remain cautious and wait for confirmation before entering new positions.
A key support and demand zone is visible between $0.020 - $0.022, where buyers have historically stepped in. If the breakout is confirmed, multiple resistance levels are outlined as potential price targets, including $0.03042, $0.03645, $0.04456, $0.05318, $0.05990, and $0.06908. These levels represent key areas where traders might look to take profits.
For confirmation, a daily close above the descending trendline is necessary. With a recommended stop-loss below $0.020 to minimize downside exposure. A breakout could lead to a strong bullish rally, whereas rejection at the trendline may result in continued consolidation. Traders should remain cautious and wait for confirmation before entering new positions.
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Note
we have a breakout, time to pay attention
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.