VET Broke Up and Retested Major Resistance
Updated
VET has finally broken 100 Daily EMA and a strong sloping resistance since May last year (only one false breakout had ever happened, just right before FTX). This is because BTC is also pumping hard (BTC.D is high)
After the breakout, VET retested both said sloping resistance and 100 Daily EMA, and now it has broken previous high before the pullback,
and also managed to close daily above Ichimoku Cloud with a huge bullish momentum bar (also worth pointing that Ichimoku Cloud forecast is green, sharply pointing up)
Also, Daily 20 and 30 EMAs have crossed above Daily 50 EMA and are about to cross Daily 100 EMA as well
If BTC moves up or sideways, then the next target would be around $0.025 which is also where 200 Daily EMA is
(the last time VET managed to successfully break through 100 Daily EMA <not a false breakout> was in March last year, where it reached 200 Daily EMA and did a false breakout above it)
If BTC moves down/does a correction, then most likely VET will retest $0.02-$0.021 level again
Key Events: Lunar New Year on Sunday and Weekly Close on Monday
Future targets/key points are marked as red lines on the chart
Happy Trading
Not a Financial Advice
After the breakout, VET retested both said sloping resistance and 100 Daily EMA, and now it has broken previous high before the pullback,
and also managed to close daily above Ichimoku Cloud with a huge bullish momentum bar (also worth pointing that Ichimoku Cloud forecast is green, sharply pointing up)
Also, Daily 20 and 30 EMAs have crossed above Daily 50 EMA and are about to cross Daily 100 EMA as well
If BTC moves up or sideways, then the next target would be around $0.025 which is also where 200 Daily EMA is
(the last time VET managed to successfully break through 100 Daily EMA <not a false breakout> was in March last year, where it reached 200 Daily EMA and did a false breakout above it)
If BTC moves down/does a correction, then most likely VET will retest $0.02-$0.021 level again
Key Events: Lunar New Year on Sunday and Weekly Close on Monday
Future targets/key points are marked as red lines on the chart
Happy Trading
Not a Financial Advice
Note
VET reached our first target, the 200 Daily EMA at $0.025 and got rejected at this level as expected. VET might consolidate around this area or even retest $0.022 level again before moving up to our next target, strong resistance zone at $0.028. As long as VET doesn't break and fix position below $0.02 this trend will continue.Note
VET reached our second target at $0.028 and also got rejected again as expected. VET might consolidate around this area or retest $0.025-$0.026 level again before moving up to our third target at $0.03.VET is now in the process of fixing its price above 200 Daily EMA, which also makes 200 Daily EMA a strong dynamic support. If VET can maintain this, expect all targets above to be hit.
Note
Wow our third target got hit pretty quickly I'd say so myself, got rejected as expected at $0.03. The biggest resistance stays at $0.034, I'm positive we'll reach that point at least before doing a pullback. $0.032 is on the way.
NOT A FINANCIAL ADVICE
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY
DO YOUR OWN RESEARCH
YOUR MONEY IS YOUR OWN RESPONSIBILITY
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