VEGA/USDT 1D. Another interesting coin rn. Accumulation. ChannelVega/usdt 1d. Secondary trend.
In the secondary trend horizontal channel is formed. In this channel local uptrend channel was formed which recently broke down.
Before the break down of the channel the falling wedge formed.
The price dropped to the support of the secondary trend channel. Notice that the price hasn't dumped with the market recently.
We've dropped to the dec. 22 minimums and rn we're holding this level(0.7$).
Check out that the volume is also being accumulated in the coin as for now.
IF we break the current local downtrend - then we'll see the retest of the broken uptrend channel(77%) - shown on chart. Next target will be about 121% which is the middle of the horizontal channel.
Check out that the market is red right now so it's reasonable to take local targets ain't be that greedy. Though the higher targets are shown on the chart. I'm shown the real one as for me.
Also wanna notice that this pattern - falling wedge breaking down and then accumulating - is quite an often recently pattern on different ranges which often results into the pump.
Example which come into my head is DODO recently. Though the range there is bigger.
Also we're in about 0.666$ zone.
