VeChain has broken out upwards from its Ascending Triangle.
VeChain is now in the BULLISH ZONE of the Ichimoku Cloud for this 4hr timeframe.
Notice that we have an Ichimoku Cloud Kumo Twist into a new Bullish Green Cloud for this 4hr Timeframe.
Notice how the Bollinger Bands Upper and Lower Bands are moving away from each other and the Price is Walking up the outside of the Upper Band.
VeChain is above its 50EMA and its Bollinger Bands Middle Band Basis 20 Period SMA.
VeChain is above its Volume Point of Control (POC) for this 4hr timeframe.
VeChain’s Volume has increased above its Volume Moving Average 6 4hr candle in a row.
The Chaikin Money Flow (CMF) is indicating accumulation has risen slightly to 0.11.
The Average Directional Index (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 27.6 above its 9 Period EMA (White Line) which is at 22.48. The +DI (Green Line0 is at 29.9 way above its - DI Red Line which is at 8.6. Notice that the =DI (Green Line) is pointing upwards and moving away from its -DI (Red Line) which is moving downwards.
The future looks extremely bright for this future giant of the crypto industry.
Here is a closer Look at the CMF.
Here is a closer look at the ADX DI.
I hope this is helpful with your Trading and Hodl-ing.
Comment
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Here is a look at the VeChain Daily Chart:
VeChain is back above its 50EMA.
At the moment of typing this, VeChain had entered the Equilibrium Zone of the Ichimoku Cloud but has dipped back out. VeChain needs to turn the Leading Span B (Senkou Span B) into strong support.
The Relative Strength Index (RSI) is indicating VeChain has room to move up on the daily chart before entering the Overbought Zone of the RSI. Remember that when the RSI enters the Overbought Zone, that docent mean VET will drop as VET can range sideways for a prolonged period in the Overbought Zone.
Thanks for this great and detailed idea! Let's hope we can look up from here!
entertheroach
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@Gaengphed, At the moment BTC, whale and exchange manipulation is dragging everything down. When BTC settles, VET will go back up as well as ADA. On a side note, I really do laugh that there is BTC Altcoin pairs, what is the point of BTC/Alt pairs if the value difference means nothing. because when the price of BTC drops, the price of the alt that BTC is paired against should go up, that is how currency pairs work. But because crypto isn't regulated, we have to sit through whale and exchange crap of stop hunting and market manipulation. Sorry, just going on a rant.
Gaengphed
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@entertheroach, Seems like the default weekend manipulation that's going on for weeks now. I recall a few months ago that there were sharp rises during the weekends. Perhaps this also marks a different phase in the market today.
And you're right about those BTC/Alt-pairs indeed.