This technical analysis is based on the daily chart of VETUSDT on the Binance exchange. In this analysis, a price channel is drawn, and support and resistance levels are evaluated.
Price Channel Analysis:
The price is currently within a price channel ranging from 0.03229 to 0.04707 USDT.
The suggested entry point is around 0.03435 USDT.
Entry and Exit Points:
Entry: 0.03435 USDT
Take Profit: 0.04707 USDT
Stop Loss: 0.03229 USDT
R/R Ratio: 5.69
Conclusion: This analysis suggests that by adhering to the specified take profit and stop loss levels, a successful trade can be achieved. The Reward/Risk Ratio for this trade is approximately 5.69, indicating a highly favorable risk-to-reward scenario. To manage risk effectively, it is recommended to strictly follow the stop loss level.
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