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The VET rally might extend another 10% higher
VeChain has been in a long-term downtrend.
The consolidation phase in July and the first half of August below the $0.050 resistance zone was decisively ended.
A local high at $0.0055 was flipped to support in recent days, and the buyers continued to send prices soaring.
The swing structure, captured by the Fibonacci retracement levels (yellow), was bearish despite the recent rally. The golden pocket between the 61.8%-78.6%
retracement levels at $0.00619 and $0.0073 is being tested at the time of writing.
Since the latter level is 10% away from current market prices, the rally could continue before facing rejection. The bearish bias is warranted, given the long-term downtrend and the bearish swing structure.#NVIDIAEarnings #CandyDrop1BTCForOldUsers #EventContracts1%Reward #TopFiveLeaguesPreMatchPredictor #GateStockInsightsChallenge $VET