Based on the fundamentals, VeChain is probably my favourite project in the crypto market right now.
The price dumped after their rebranding event(buy the rumour, sell the news). The blue box signs strong support and has held up multiple times now.
We've been rejected by the 4h cloud and are on our way down at the moment.
Now two of the fibs line up around the 45'9k area, so that'll be an area to watch for a bounce. If we can't hold those fibs, we'll likely visit the kijun or the bottom of the cloud.
In any case, I don't see how $VEN could dump below the blue box, only scenario would be a massive $BTC sell-off.
- Keep Smiling
The price dumped after their rebranding event(buy the rumour, sell the news). The blue box signs strong support and has held up multiple times now.
We've been rejected by the 4h cloud and are on our way down at the moment.
Now two of the fibs line up around the 45'9k area, so that'll be an area to watch for a bounce. If we can't hold those fibs, we'll likely visit the kijun or the bottom of the cloud.
In any case, I don't see how $VEN could dump below the blue box, only scenario would be a massive $BTC sell-off.
- Keep Smiling
Trade active:
So we did dip into the blue box. Take your chances with guessing how much further into it we'll be going, I don't think we'll go all the way to the bottom.
There's a hidden bullish divergence on the RSI, that's something to look out for as well.
There's a hidden bullish divergence on the RSI, that's something to look out for as well.