Vechain has been fighting some heavy resistance at the 23.60% Fibonacci level. From here we were expecting a clear break above this level but since the september crash, Vechain has been consolidating around the 23.60% Fibs and now looks like it is ready to break above this level. Simultaneously, looking at the moving averages, VET looks poised for a big move on...
PA looking really crappy atm but here are the levels I'm watching. That 12.3c level's been suppressing the price for weeks now so likely a key breakout level. Looking to buy some spot at 10.2 if it goes for a retest. A bunch of levels above 12.3 to watch too.
Vechain is playing well the elliot wave move. So far so good. It is currently curving sub 2 of big 5. I am expecting sub 3 which should be an impulse move according to elliot. See you in $1. For this to play, BTC should continue up to $100k.
Quick VTHO 4hr chart update:
After yesterday’s massive price rise, VTHO has dropped back under the Upper Bollinger Band which should come as a surprise after such a large rise.
Note that we have had an extreme expansion on the Upper and Lower Bollinger Bands so a BB contraction and price dip is a possibility and should not come as a surprise.
VTHO is back below...
A scythe structure on VeChain
These usually result (from my experience) in bullish continuation
As we can already see a breakout is occurring from the also triple bottom on the Fibonacci circle
The bars pattern in green is what we can likely expect from price action in coming weeks
It has been a while. And just wow, VeChainThor and VeThorToken surged massively in such a short timeframe 🔥 $VET with 750% + gains in the last 90 days, and $VTHO with a whopping 2500% + gains in the last 90 days (CoinMarketCap). While $VET was just continuing its uptrend, $VTHO had a cool-down period at the end of March and beginning of April. Since then, it...
Vet has been going sideways in accumulation for a almost a couple weeks now after its huge run up creating new ATH's and support. I believe its just a matter of time before we see VET go on another huge run creating new ATHS and upper supports! All we have in the way is 1 FIB resistance level coming from the ATH! the longer the accumulation goes for the stronger...
I think 0.055 is all that stands between VET and the new ATH.
Need a daily close above said level to confirm but with the current bullish momentum, I'd take a 4H close as a leading indicator of what's to come ---> new ATH!
If his materializes, a move to 0.073 would be an easy near term measured target.
VeChain has reverted to the means and stalling at current prices, which are also at the 50% retrace of this entire bear leg from the 20-FEB high.
Clear chance we could see another leg down from here unless we rally back to above 0.052.
We could also see more trading range price action (sideways) before VET decides to resume its rally or give more discounts...
Looking at 0.052 level as key to this potential breakout happening in the near term. This level is the highest weekly closing price so far which is a level that I always watch closely in terms of price action.
I also used a big arrow so the market notices. :)
Have a nice weekend, all!
VET has forged a nice consolidation pattern but is still getting stalled by that 0.057 level. It seems to be a significant resistance level judging from how the market is reacting to it since FEB 13, 2021.
Break that and it becomes a significant support level.
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