🚨 VET/USDT: The IoT Token is Trending Up! Will the Bulls Prevail?

Market Outlook: After a period of sideways trading and lower prices earlier in August, VeChain (VET) has seen a notable bullish reversal. The price is now trending upwards, breaking out of a recent pattern and pushing toward a key resistance zone. This momentum is supported by an increase in trading volume, but the short-term direction is dependent on its ability to overcome the next resistance level.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed candle close ABOVE the resistance zone of $0.0260–$0.0265 on a higher timeframe (e.g., 4H or Daily) with strong volume. This would confirm a bullish breakout.

💰Targets: $0.0275, $0.0285, and potentially towards $0.0300.

🛑Stop Loss: Below the recent consolidation low at $0.0252.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.0260–$0.0265 resistance zone and breaks BELOW the crucial support level of $0.0252 on a higher timeframe.

💰Targets: $0.0248, $0.0240, and lower towards the previous accumulation zone.

🛑Stop Loss: Above the high of the rejection candle or above $0.0265.

Your Action Plan:

01 - Wait for Confirmation: Do not enter a trade until a clear breakout or breakdown is confirmed by a candle close. The market has been choppy, and confirmation is key to avoiding false signals.

02 - Use a Stop-Loss: Always protect your capital. A stop-loss is essential, especially with a volatile asset like VET.

03 - Manage Your Risk: Consider position sizing appropriate for your risk tolerance. Do not over-leverage, given the speculative nature of the asset.

📢 What are your thoughts?

Vote: Do you think VET will break out and continue its rally or be rejected at resistance?

Breakout and Rally!

Rejected and Pullback!

Comment: Share your analysis below!