VET has been doing well recently, with it breaking the strong resistance at around 0.94 (red magneta ish line). And if you zoom in to the 4h time zone, we can see a clear forming against the resistance and lower supports, thus this break out was soon to be due anytime. Dragging from the tails of the , we get a price target of around 0.115 (purple line), which is backed up with the price movement of VET in the past two months. Zooming out again, although not really clear, there is some sort of forming in the past two months of VET price movements, and if dragged will give us a target price of 0.15 to 0.16 ish areas. Do understand that this target price is not in the immediate short term, though if new money would enter and break the “semi” we can see price going to 0.16 within a week or two. The also just showed an uptrend, meaning it is still not late to enter.
With bitcoin now contemplating whether to break out of its current resistance or let the bears eat up, it is a risky move to invest in altcoins for what i call “semi” long term (3months to 6). Though, with high risk comes high rewards. If bitcoin ends it bull run soon, alt season will spike up, and VET is one of the most promising penny alts. For now, my plan is to keep holding it until it reaches $1 eventually, then ill take my profits and go onto the next penny alt. Happy trading everyone~~
Disclaimer: This is not a financial advise. Do your own due diligence, rather than just taking everything into face value.
Open to your ideas, please share them below! My first time posting an idea, i want feedbacks yet i do not have the reputation required to join the chatrooms, so i thought this would do.