VET PERSONAL ANALYSIS IN THE LONG TERM
Updated
Chart shows common supports and resistances based on the Fibonacci and price action. The total evaluation for VET is neutral-bearish. The coin itself has no increasing buyer interest for each oversold indication and no buyers are interested in keeping the price above the 0.5 fib (support) which would mean weakness in potential long term investment confidence in this asset. The recommended strategy for investing/trading this coin in terms of longing is to confirm if the general market is bullish in both smaller time frames and larger timeframes, in any case that the market is currently in a bear market the 0.5 fib or 0.618 would be a very strong short move, it would be entirely unwise to short it within the red zone since it has acted time and time again as a strong support until proven otherwise.
Note
Due to the positive news of FED today, the move to the upside is more likely now than approaching the 0.060$$ range however the resistance near the 0.015$ is still a major resistance until proven otherwise. Happy Longs Everyone!
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