The VET/USDT chart is hinting at a potential bullish breakout, supported by an inverted head and shoulders pattern on the 1-hour timeframe. Here’s the breakdown:
📊 Chart Insights:
Pattern: Inverted Head and Shoulders – A classic reversal signal indicating a possible trend shift upward.
Key Resistance (Neckline): $0.044 – A breakout above this level with strong volume could ignite a rally.
Indicators:
RSI: 56.61 – Moderate bullish momentum with room for further growth before overbought levels.
Support Levels: Holding firm, supporting the bullish setup.
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🚀 Trade Plan:
Entry Zone: $0.043
Take Profit (TP): $0.085
Stop Loss (SL): $0.037
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🎯 Key Levels to Watch:
Immediate Resistance: $0.044
Target Resistance: $0.06 and beyond upon breakout.
Support Zone: Holding above $0.037 is crucial to maintain the bullish structure.
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💡 Remember: Always apply proper risk management and adjust your position size to your strategy.