VET/USDT 1D Descending Channel Breakdown or Reversal Setup?

The VET/USDT 1D chart shows a clear bearish trend over the past few months, with price consistently moving within a descending channel. Currently, price is approaching the upper boundary (channel resistance), which is a critical area to determine the next direction.

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Pattern: Descending Channel

This pattern is characterized by:

Lower Highs (LH) → red resistance line

Lower Lows (LL) → yellow support line

This structure indicates strong selling pressure, but it can also become a potential reversal or breakout zone.

👉 At the moment, price is near the channel resistance, meaning:

A rejection could occur (continuation downward)

Or a breakout could happen (start of a bullish reversal)

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Key Levels

Main Resistance:

0.00775 (current rejection area)

0.00888

0.01040

0.01285 (highest target in bullish scenario)

Main Support:

0.00640

Lower channel area (~0.0045 – 0.0050)

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📈 Bullish Scenario

Bullish confirmation occurs if:

Price breaks and closes above the channel resistance (red line)

Strong breakout above 0.00775

Potential movement:

Target 1 → 0.00888

Target 2 → 0.01040

Target 3 → 0.01285

💡 A breakout from a descending channel often signals the beginning of a trend reversal.

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📉 Bearish Scenario

Bearish momentum continues if:

Price fails to break out and gets rejected at the channel resistance

Strong rejection around 0.00775

Potential movement:

Retest of 0.00640

Continuation toward the lower channel support

A breakdown could push price to 0.0050 or lower

💡 As long as price remains inside the channel, the primary trend is still bearish.

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Conclusion

Market structure remains bearish (descending channel)

Price is at a critical decision zone (breakout or rejection)

Confirmation is key: avoid entering before a clear breakout or rejection signal

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