VET Technical Analysis Jan 24

VET is showing a tight consolidation around 0.0100$; short-term downward pressure dominates but a breakout above 0.0103$ could bring positive momentum. Main supports at 0.0102$ and 0.0100$, resistance at 0.0103$. Watch BTC’s sideways movement.

Short-Term Market Outlook

VET is trading sideways at the 0.0100$ level with a 0.77% drop in the last 24 hours. Intraday range is narrow (0.0100$ – 0.0100$), volume remains low at 11.88M$. Short-term trend is downward; price is positioned below EMA20 (0.0100$) and Supertrend is giving a bearish signal. RSI at 42.22 is in neutral-bearish territory, MACD histogram is balanced on the zero line. In higher timeframes (1D/3D/1W), 6 strong levels were identified: 1 support/2 resistances on 1D, 1S/1R on 3D, 1S/1R on 1W. High risk of downward breakout in the next 24-48 hours, but consolidation may continue if BTC remains stable. No news flow, technically driven movement expected. Check the links for VET Spot Analysis and VET Futures Analysis.

Intraday Critical Levels

Nearby Support Zones

Immediate support zone at 0.0102$ (strength score 87/100), this is the test point for reaction buys from intraday lows. A breakdown targets the critical 0.0100$ below it (75/100); this level aligns with EMA20 and psychological base. A close below 0.0100$ could trigger fast selling and expose the 0.0091$ target. For scalping, watch the squeeze between 0.0102$-0.0100$, quick invalidation above 0.0103$.

Nearby Resistance Zones

Closest resistance at 0.0103$ (82/100), aligned with Supertrend resistance. An hourly close above this level signals momentum shift. Higher resistances cluster in the 0.0105$-0.0110$ range, but 0.0103$ is the main short-term threshold. Breakout requires volume increase; failed tests carry low short squeeze risk.

Momentum and Speed Analysis

Short-term momentum is neutral-bearish; RSI at 42 is not approaching oversold, no divergence. MACD with zero histogram is indecisive, carrying bearish crossover risk. Speed analysis: Intraday volatility low (0.77% change), ATR values in narrow range. Supertrend bearish, EMAs sloping downward. Momentum weak on 4-hour chart, quick scalp opportunities between 0.0102$-0.0103$ on 15-minute. Risk: Stop-loss mandatory against false breakouts, short-term trading carries high loss potential.

Short-Term Scenarios

Upside Scenario

Bullish activation with hourly close above 0.0103$: First target 0.0105$, extender 0.0112$ (score 30). Trigger: Volume increase + RSI above 50. Invalidation: Close below 0.0102$. This scenario strengthens if BTC stable above 90k, swing long entry at 0.0103$, stop at 0.0100$. Probability 35%, quick rally may remain limited.

Downside Scenario

Bearish trigger with close below 0.0100$: Target 0.0095$, then 0.0091$ (score 22). Trigger: Low-volume breakdown + MACD bear cross. Invalidation: Rejection above 0.0103$. Lows accelerate if BTC approaches 88k support. Scalp short at 0.0102$, stop 0.0104$. Probability 50+%, downtrend continuation expected.

Bitcoin Correlation

BTC sideways at 89,285$ level (%-0.94), Supertrend bearish. VET highly correlated with BTC; if BTC breaks 88,870$ support, VET tests 0.0100$ base, general altcoin pressure increases. BTC resistances at 90,751$-91,675$; breakout here supports VET 0.0103$ breakout. BTC dominance high, altcoin rotation weak – if BTC drops below 87,635$, VET downside to 0.0091$ accelerates. Key watches: BTC 88,870$ and 90,751$.

Daily Summary and Watch Points

Today’s VET focus: 0.0102$ support hold vs 0.0103$ resistance test. Breakout direction determines next 24-48 hours; downtrend dominant, BTC-dependent. Watches: 1) 0.0100$ close (bear trigger), 2) Volumetric 0.0103$ breakout (bull hope), 3) Volume spikes, 4) BTC 88k-90k movement. Risk management: Position 1-2% capital, tight stop-loss (10-20 pips), keep leverage low. Short-term trades volatile; high capital loss risk, manage professionally. End-of-day consolidation likely.