.$VET

We updated the analysis.

We updated our analysis of VETCHAIN.

VETCHAIN is in a long-term bullish channel, and we continue to expect a target of 0.09097.

Currently, the price has retraced between 61% and 70% of Fibonacci from the last bullish impulse, so our outlook remains unchanged.

We still expect $VET to correct until it enters the area between 0.03917 and 0.03520 (see light blue line). This is a very strong resistance zone, so we consider it would be a good opportunity to buy.

Our outlook would change if the RSI breaks upward; in that case, we believe there would no longer be such a correction towards the resistance zone, and the price would seek to meet the mentioned target.

However, in the event that the price breaks the resistance downward, below 0.03520, we believe the price could reach up to 0.02715, where the bottom of the bullish channel is located, which coincides with previous highs. (See red line).