Hi guys,
Today I have another update on another coin. It's VeChain (AGAIN!). You are looking at the daily chart, which tells us the following:
- Parabolic drop from 40k sats to current level (22.1k at time of writing);
- Still hugely oversold. RSI of 13.9 on Daily, which is all time low for VeChain;
- Weak support soon, due to price action in January and .786...
VeChain TA/FA before Mainnet release.
VeChain is making Lower Highs and Higher Lows on the daily forming a Symmetrical Triangle. It's sitting strong after two bounces from the furthest retracement at .786 fib and once again .618 fib levels. Alts still depend heavily on BTC movement. Bitcoin is in bearish territory. If it BITFINEX:BTCUSD breaks above $8,600 -...
VEN/BTC -
Ven has had a huge bullish set up that sort of came out of nowhere, it hasn't had its huge run like other coins during this bullish period and has broken out of its falling wedge formation which was the first sign of a quality buy, it has from there started forming a massive inverse head and shoulders formation which it successfully rallied through the...
- The bears are strong these days
- Price is moving in a descending channel
- Support didn't hold
- Listing on Bithumb on 2/4 pushed price back to last support where it was rejected the next day
- Only news can change momentum
- Without news price will travel towards the lowest line of the channel
- 1st target to break: support
- 2nd target to break: upper line...
Vechain has been dancing between three different levels of resistance (Red, Yellow and Green) while consolidating .
Passing either threshold may cause movement in the direction of the corresponding arrow. Passing red is not favorable, yellow would be promising movement with a larger breakout occurring at green.
- VET is the ONLY one in the top 20 rising against the USD in 2018 (+ 60 %)
- 41 % of the circulating supply is locked down in the X-series Node Program
- At the moment price is flirting with resistance
- If it breaks and closes above resistance the next challenge will be the downwards trendline
- Bears are still driving but the road is uphill
In my previous post on Vechain , I highlighted the TRUE buy and sell moments for Vechain Thor:
I showed that MACD, "SMI" and Fibonacci speed resistance fans could help in identifying these moments, as is evident in the previous cases where you see the first green vertical, and the first red vertical. I then drew a 2nd green vertical as the likely turning...
![VENBTC: Buy Opportunity Before Mainnet - VeChain [Bullish]](https://s3.tradingview.com/w/wDBWct9g_mid.png "Buy Opportunity Before Mainnet - VeChain [Bullish]")
