🔥 VET Reached Channel Resistance: Break Out Or Reversal?

٥ نوفمبر ٢٠٢١

Around 4 days ago I made an analysis on VET. Here I argued that VET was trading inside a bullish channel and was likely to follow it in the near term. The fact that VET just reversed from the channel's support indicated even more bullish presence.

As of this morning, VET has reached the prior target and is currently seeing some minor consolidation. I'm expecting this consolidation to last a few hours tops before VET decides which way to go. The price can either reverse back to the channel support area or break out on the bullish side.

Since alts are currently showing a lot of strength, I'd wager that a bullish break out is more likely. In that case, $0.20 would be my target in the near term.

Happy trading!