The big resistance to the price action is almost 30-40% away from current price. Based on how alts are moving , it could possible move 40% in a day or two.
Leave a like if it helps. Follow to get notified for further analysis.
Read other analysis below. ( Over 90 % accuracy so far)
Recently had a name change from VeChain (VEN) to VeChain Thor (VET), this is one of the most famous cryptocurrencies out there. With a very strong project, it is in the top 20 cryptocurrency by market cap. Let's open up the charts, and see how we can trade VeChain.
- This chart looks quite different to most of the other charts we've been looking at...
VeChain has created bullish AB=CD harmonics pattern. The pattern is used for both intraday and for longer timeframes. The point D signals a buy in the bullish pattern, which is identified anywhere between 127.2% and 161.8%. Since we had a reaction in the zone, the price is now on the move to the upside. The first level to look up is the confluence zone of...
I spent hours to count and recognise the waves, right now we are on wave b and soon should move to wave c and retrace.
I believe whales will push it hard to hit the bottom again and that will give us double bottom and confirmation of an uptrend.
Stoch is overbought needs to retrace
Macd: is slowly going down
This time i am presenting you a bigger picture of an altcoin with amazing potential: VeChain.
I was honestly surprised by the perfect harmony of this technical analysis.
The intersection on the green support line of the triangle with the .236 fib retracement pattern coincides perfectly with the lowest price that VEN has hit in a while.
Ven is currently on 0.236 support of Fibonacci. If the bracket does not break, it will mainly have two reversal points. The black line just below, or the support around 0.009. To enter the trade, wait for at least the RSI line on the daily chart to point up and / or an accumulation in the price.