š² Current Price
VeChain ($VET/USDT) is currently trading around $0.0288, rising ~1% in the past 24 hours and breaking above a key short-term pivot.
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š Whatās Happening?
On the 4āhour chart, VET has formed a double bottom, a classic bullish reversal pattern. š
Price is now approaching resistance near $0.030ā0.031, and a breakout above this zone could confirm the bullish setup. āļø
Oscillators and moving averages are neutral to mildly bullishāperfect conditions for upside potential if momentum picks up. šÆ
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š Trade Setup: Long VET/USDT
Entry:
Aggressive: Buy now around the current $0.0288 as VET tests the double bottom neckline.
Conservative: Wait for a clear breakout above $0.0305 with strong volume to confirm bullish momentum.
Stop Loss:
Place below the recent low around $0.0265ā0.0270 to limit risk in case of reversal.
Take Profit Targets:
TP1: $0.0325 ā first resistance zone just above neckline.
TP2: $0.0350 ā if breakout gains traction.
Extended: $0.038ā0.040 ā larger move if altcoin momentum kicks in.
RiskāReward:
Entering near $0.0288 with SL at ~$0.0265 gives ~2.3% risk. First target offers $0.0325), yielding ~5:1 R:R on TP1 alone. š°
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š§ Why This Setup Matters
The double bottom reversal is among the most reliable bullish chart patterns.
With price nearing the neckline, a breakout could trigger quick upside into new swing highs.
In a strong altcoin environment, VET could outperform if broader crypto gains pull it upward.
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ā ļø What to Watch
Confirm breakout with volume spike above $0.0305ā0.031.
If price dips and breaks below $0.027, the pattern fails, signaling an exit.
Monitor broader market movesāaltcoin rotations could either amplify or stall movement.
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To recap:
Strategy Details
Entry $0.0288 aggressive or $0.0305 breakout
Stop Loss ~$0.0265
Take Profit TP1: $0.0325 ā¢ TP2: $0.035 ā¢ TP3: $0.038ā0.040
R:R ~5:1 to TP1
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Set this up, place your stops, and ride the breakout wave if momentum aligns! šš
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