UNIVERSOFSIGNALS | VET : a Layer 1 project

Let's quickly dive into VET, a Layer 1 project with a market cap of $2.37 billion, currently ranked 41st in coin market cap.

📊 In the 4-hour timeframe, you can see that a descending triangle has formed, and the floor of this triangle at $0.03068 has been broken, with the price now touching an important daily support at $0.02673.

⚡️ The RSI oscillator, following the triangle break, entered the oversell zone and, after concluding the downward leg, has rebounded above this zone, approaching the 50 area.

⭐ The volume aligns with the downward trend, and if the support at $0.02673 breaks, we could witness the next leg down. The next price support would be at $0.02406.

📈However, if the price moves back above $0.03068, it could indicate that the downward trend has ended. In this case, a risky long trigger would be at $0.03580, and the main long trigger would be at $0.03958. This reversal would suggest potential upward momentum, providing opportunities for long positions.