VeChain 4hr Chart update using support and resistance lines:
VeChain is Below its 50EMA on the 4hr chart. VeChain needs to eventually close a 4hr Candle above this crucial level and turn it into strong support.
VeChain is below the Bollinger Bands Middle Band Basis 20 Period SMA. VeChain needs to eventually close a 4hr Candle above this crucial level and turn it into strong support.
Both the Bollinger Bands Upper and Lower Bands are pinching inwards indicating volatility is still slowing.
Note that VeChain had dropped out on the downside of its Bearish Rising Wedge Pattern.
VeChain is testing the 1st Upwards Support Line. This is a very crucial support line and VeChain 110% needs to close a 4hr candle above this support line.
VeChain is in a new Symmetrical Triangle on this 4hr timeframe.
VeChain is still above its Volume Point of Control (POC) for this visible range. We need VeChain to close above this POC as it is a crucial support. On the VPVR you can also see the amount difference between the buying and selling trading activity for this visible range.
Volume has risen slightly and is now above its Volume 20 Period Moving Average. Hopefully VeChain can close this 4hr candle green.
The Relative Strength Index (RSI) is indicating momentum has dropped and is now slightly pointing upwards but be aware hat the RSI is a fast reacting indicator.
If VeChain manages to stay above the 1st Upwards Support Line and the VPVR Point of Control (POC) then we may see another attempt at getting above the Bollinger Bands Middle Band and the 50EMA. If VeChain drops below the 1st Support Line and the VPVR POC, the VET will possibly drop to the 2nd upwards support line. It’s looking hopeful that VET will stay above the 1st support Line and the VPVR POC, but note that it is also still dependant on what BTC does.
If you are uncertain as to whether or not to place a long, its best to wait until VET closes above the Bollinger Bands Middle Band Basis, 50EMA and the New Symmetrical Triangle Resistance Line and turns the ST Resistance Line into strong support for this 4hr timeframe.
I decided to post this chart differently from my usual style of Ichimoku Clouds, Pitchforks, CMFs ect ect, so i hope you have found this helpful with your Trading and Hodl-ing.
VeChain is Below its 50EMA on the 4hr chart. VeChain needs to eventually close a 4hr Candle above this crucial level and turn it into strong support.
VeChain is below the Bollinger Bands Middle Band Basis 20 Period SMA. VeChain needs to eventually close a 4hr Candle above this crucial level and turn it into strong support.
Both the Bollinger Bands Upper and Lower Bands are pinching inwards indicating volatility is still slowing.
Note that VeChain had dropped out on the downside of its Bearish Rising Wedge Pattern.
VeChain is testing the 1st Upwards Support Line. This is a very crucial support line and VeChain 110% needs to close a 4hr candle above this support line.
VeChain is in a new Symmetrical Triangle on this 4hr timeframe.
VeChain is still above its Volume Point of Control (POC) for this visible range. We need VeChain to close above this POC as it is a crucial support. On the VPVR you can also see the amount difference between the buying and selling trading activity for this visible range.
Volume has risen slightly and is now above its Volume 20 Period Moving Average. Hopefully VeChain can close this 4hr candle green.
The Relative Strength Index (RSI) is indicating momentum has dropped and is now slightly pointing upwards but be aware hat the RSI is a fast reacting indicator.
If VeChain manages to stay above the 1st Upwards Support Line and the VPVR Point of Control (POC) then we may see another attempt at getting above the Bollinger Bands Middle Band and the 50EMA. If VeChain drops below the 1st Support Line and the VPVR POC, the VET will possibly drop to the 2nd upwards support line. It’s looking hopeful that VET will stay above the 1st support Line and the VPVR POC, but note that it is also still dependant on what BTC does.
If you are uncertain as to whether or not to place a long, its best to wait until VET closes above the Bollinger Bands Middle Band Basis, 50EMA and the New Symmetrical Triangle Resistance Line and turns the ST Resistance Line into strong support for this 4hr timeframe.
I decided to post this chart differently from my usual style of Ichimoku Clouds, Pitchforks, CMFs ect ect, so i hope you have found this helpful with your Trading and Hodl-ing.