CryptocurrencyMagnet

Vechain(VET) Explosive Move Back To ATH & Beyond 55% to 74% Gain

Long
BINANCE:VETUSD   VeChain / US Dollar (calculated by TradingView)
Vechain's price soared to a new ATH on 12/02/21 reaching $0.606 on the Binance exchange. Following the new ATH there was a small retracement before trying to push past the resistance set at ATH , but this failed to break on 19/02/21 and was met with huge selling pressure at these price levels, retracing down further, quite sharply after 4 days on 23/02/21 touching the 50 SMA on the daily chart with a low of $ 0.0341. The downward pressure was met with a sharp bounce on the 50 SMA recovering in a day 24/02/21 back to the 38.20% Fib retracement level showing strong signs of Bulls still in the market. As of the past 3 days the price has been consolidating between a small range between the 38.20% Fibonacci retracement levels and 23.60%. Further to note the price on 2 occasions has tested to break below the 50 SMA failing twice signalling strong bullish pressure and signs of the Bulls to continue driving the current price to test the ATH yet again whilst also setting the sentiment of a possible new ATH at the 127.20% Fibonacci retracement level @ $0.0702.

Furthermore the 200 SMA has been tested at 3 occasions on the 4H Chart, failing to break past this level. Vechain is in a perfect zone for Buys back towards the ATH . Stochastics on the Daily chart signal an extremely oversold market so expect Vet to push back 55% back to ATH levels and Further 74% to 127.20% Fibonacci with the potential to set a new ATH in the coming days to weeks in March.

The Fundamentals are great for this project and we are very bullish and can see EOY price target between $2 to $5. Buy Zone 1 @ 23.60% Fibonacci retracement level for the perfect sniper entry. Be patient, wait for confirmation before entering any buy. Happy Trading :)

Comments

How do you get a EOY price target of $2-5? It's retesting its ATH if the bullrun doesn't end shortly and currently at $0.053.
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Love the analysis...quick question...what MA are you using to change colors when uptrend and downtrend? Also, what EMA are you using as well? Thanks again
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@SlickRick2020, hello, thank you for the comment, this is a personal script I coded which I am using, you can add this to your favourites as an indicator. Enjoy!
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@SlickRick2020, here is the link to the script below.

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SlickRick2020 CryptocurrencyMagnet
@CryptocurrencyMagnet, Thanks again dude!
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Nice Work, I just wonder why this utility Coin has no social media coverage?
How do you stack it? to get the child coin?
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That would be superb! Thanks for your chart and analysis!
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brilliant work!
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CryptocurrencyMagnet ForecastCity_World
@ForecastCity_World, thank you appreciate it! Great chart analysis too!
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