VET/USDT Analysis: Potential Reversal or Continued Sideways? 📊
VeChain ($VET) is currently showing signs of stabilization after a period of downward pressure, recently gaining traction following its listing on major exchanges like Kraken earlier this month.
🔍 Technical Breakdown (4H Chart):
* Current Price: $0.01039.
* EMA Alignment: The price is currently fighting to hold above the EMA(7) of $0.01032.
* Resistance: Immediate overhead resistance is found at the EMA(25) (0.01041) and the EMA(99) (0.01102).
* RSI (6): Standing at 61.13, which indicates a healthy recovery in momentum from earlier oversold conditions.
* Support Level: VET has established a strong local bottom at $0.00995.
💡 Trading Strategy:
* Entry Zone: $0.01030 - $0.01040 (Aggressive) or wait for a 4H close above $0.01042.
* Target 1: $0.01070 (Recent consolidation peak).
* Target 2: $0.01100 (EMA-99 psychological level).
* Stop Loss: Below $0.00990 (Previous swing low).
🏁 Summary:
Vechain is showing a bullish divergence on shorter timeframes, hinting at a potential reversal. While the medium-term trend is still weak, the current price offers a high risk-to-reward entry for those anticipating a relief rally back toward the $0.01100 level.
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Would you like me to look up any specific ecosystem news for VET to see if there's a fundamental catalyst for this move?