Since we have already had two of our talented Cyrator analysts write great buy reviews for Vechain talking about the fundamental reasons of why and why not to buy $VET I thought I would write everyone a high time frame game plan for this asset based on technical analysis purely.
The way I see Vechain right now is it is bouncing of a solid support zone of ~ $0.015, however I would consider this now a missed opportunity as it has already bounced 30% from this level.
The next two big support levels I would start to become interested in this asset again for a long term buy would be:
Support Zone 1: $0.01086 – $0.0095 Support Zone 2: $0.00417 – $0.00295
There is massive confluence stacking up at both these zones as you can see from some of the TA which I have left on the chart below.
However like any good trader/investor it is important to have a plan B. If price never comes down to either of these two zones then what I would be looking for as a HTF buy opportunity would be for $VET to show me a HTF sign of strength, which for me would be breaking the $0.03495 level I have marked on my chart below. This would make the HTF market structure start to look a lot more bullish and from there I would wait for a pull back after this level is broken (hopefully on some increased volume) to then find my entry, where I would then be looking up to at least $0.052 as my first take profit zone. Show Less
