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VIC/USDT Technical Analysis – 4H Chart
Current Price: $0.3166 (+15.42%)
24H High: $0.3469
24H Low: $0.2645
The VIC/USDT pair has shown impressive recovery after bouncing strongly from the support zone around $0.2650-$0.3000, an area of high historical significance where buying pressure often resurfaces. The price is now trading at $0.3166, showing a notable gain of +15.42% in the past 24 hours.
Analysis and Key Insights:
1. Support Zone Retest:
The recent pullback to the grey support area provided a solid base for a bullish reversal. This zone represents a confluence of prior consolidation and demand, giving it significant strength. Traders should monitor this area for potential retests if price retraces.
2. Bullish Momentum:
The rapid price movement and strong green candles indicate renewed buying interest. If this momentum sustains, the price could test the resistance levels at $0.3500 and potentially $0.4000 in the coming sessions.
3. Potential Retest Scenario:
The chart suggests the possibility of a corrective move back to the support zone before continuing upward. Such a retest would confirm the strength of the zone and offer better risk-reward entries for traders aiming to ride the next leg up.
Key Levels to Watch:
Support: $0.2650-$0.3000
Resistance 1: $0.3500
Resistance 2: $0.4000
Trading Plan:
For traders considering entries:
Breakout Traders: Wait for a clean breakout above $0.3500 with strong volume before entering long positions.
Support Zone Buyers: Look for a pullback to the $0.2650-$0.3000 zone with bullish confirmation signals before going long.
Risk Management:
Set stop losses below $0.2600 to protect against deeper retracements.
Consider scaling out of positions near resistance levels to lock in profits.
Market Sentiment:
The recent price action suggests a shift in sentiment towards bullishness, but caution is still advised as the market remains volatile. Keeping an eye on volume and candlestick patterns near key levels will be crucial for confirming the next move.
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Disclaimer:
This is not financial advice. Conduct your own research and trade respon
sibly.
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