Technical analysis by sunnytrader07 about Symbol VET: Buy recommendation (5/22/2024)

VETUSDT is exhibiting a bullish divergenceon the 4-hour timeframe, suggesting apotential reversal in the prevailing downtrend.Furthermore, the price has successfully breakout of 4h Tf Falling Wedge also itsbreaked its lower high level and established ahigher high, indicating a strengthening bullishmomentum.Based on this analysis, a trading strategy canbe outlined as follows:Entry: Consider entering a long position at thecurrent market price of $0.03649Stop Loss (SL): Place a stop loss order at$0.03260 to manage risk and mitigate potential lossesTake Profit (TP): Set take-profit levels toachieve a 1:1, 1:2 risk-reward ratio:TP1: Set the first take-profit level at $0.04030TP2: Aim for the second take-profit level at$0.04420This trading strategy anticipates a bullishreversal based on the identified bullishdivergence and the breakout above the lowerhigh level.