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VeChain 1d chart - still on Low VolumeVeChain Update: VeChain is still in its massive Symmetrical Triangle Pattern as indicated by the converging ascending and descending dotted trend-lines. At the moment, VeChain is trying to stay above its Bollinger Bands Middle Band Basis 20 Period SMA. VeChain need to close this daily candle above the BB Basis. Note that Lower Band is moving upwards and the Upper band is moving sideways. VeChain is still below its least Squares Moving Average (LSMA) for this 1d timeframe. If you are waiting to go long using this indicator then wait until a daily candle closes back above the LSMA level. Note that VeChain is still in the Bearish Zone of the Ichimoku Cloud. At the moment, VeChain is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 6x daily candles that i have selected. At the moment, VeChain is below its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range. Note Volume is still very ow on this Binance 1d chart, and note that the last 6x daily Volume Bars have been way below its Volume 20 period MA. We need to see rises on increasing volume for any upwards momentum to be sustained. I have added some key support and resistance areas indicated by the Black Horizontal Parallel Lines with Orange Shading. I have also added some key support and resistance lines and indicated by the various dashed, solid and dotted lines. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dropped with the -DI (Red Line) dropping to 19.45. Positive Momentum has also dropped with the +DI (Green Line) dropping to 16.09. Note that the Trend Strength has weakened with the ADX (Orange Line) dropping to 25.24 and is still below its 9 Period EMA (Black Line) which is at 30.19. For any upwards momentum to be sustained, we need the ADX (Orange Line) to stay above the 20 Threshold (Black Dashed Line) and we 100% need the +DI (Green Line) to cross back above the -DI (Red Line) on this 1d timeframe. If we take a look at the Stochastic Indicator (STOCH) we can see that momentum is downwards at the moment. Note that the %K (Blue Line) is fighting to stay above its %D (Orange Line). The %K (Blue Line) needs to stay above the %D (Orange Line) for continued upwards momentum. If the %K (Blue Line) drops and stays below the %D (Orange Line) then we will see further drops on this 1d timeframe. Here is a wider look at this 1d chart, you can clearly see the difference in Volume that VeChain has now compared to what VeChain has experienced in the past. At the moment Volume is very, very low. So what does all this mean to me? I would be very suspicious of any rise happening on really low volume. For me, I wouldn’t get excited by any rise unless its on increasing Volume. As always, we need to keep an eye on what BTC is doing as Bitcoin is still in a H&S Pattern. Be on the lookout for a successful break above the LSMA indicator level and any successful re-test as support as well as the +DI (Green Line) crossing back above the -DI (Red Line) on the ADX DI indicator on this 1d timeframe. I hope you’ve found it helpful with your trading and hodl-ing.
BINANCE:VETUSD
by TradingThroughTheLens
1
Long VETUSD | Update on Vetchain on the raod to $0.35First and foremost this is my own hypothesis and in no way suggests a buy or sell advice. We ended our Phase 2 correction at $0.07 after a Zig-zag in ABC decomposition (Purple). We then started our phase 3 with the two sub-waves 1 formed in recent days. We are now entering phase 3 of the sub-waves which will form the bullish impulse of our bullrun. A first objective towards 0.187 offering us a beautiful opportunity of 122% attention in counterpart not to go down below 0.066. Let's give IOTEX time to validate this analysis. If you agree with this scenario let me know with a like. Otherwise let me know your point of view with a comment!
BINANCE:VETUSDLong
by MelvinGst
VeChain - 1d chart updateVeChain is still within its Massive Symmetrical Triangle on this 1d timeframe. VeChain is back above its Bollinger Bands Middle Band Basis 20 Period SMA for this 1d timeframe. Note that the Upper and Lower Bands are still pinching inwards so that means the Bollinger Bands have a lot of room to expand before becoming over extended. Note that VeChain is still above its Least Squares Moving Average (LSMA) for this 1d timeframe. VeChain is still in the Bearish Zone of the Ichimoku Cloud for this 1d timeframe. VeChain still has a mountain to climb before it can attempt to get back into the Equilibrium Zone and then back into the Bullish Zone. At the moment, VeChain is above its VPFR POC for the Fixed Range of 11x daily candles that i have selected. A very good sign will be if VeChain closes this daily candle above this VPFR POC. At the moment, VeChain is above its VPVR POC for this charts Visible Range. A very good sign will be if VeChain closes this daily candle above this VPVR POC. Volume is still low on this Binance Chart, but note that yesterday’s 1d Volume Bar closed above its Volume 20 Period MA. If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is indicating momentum is upwards and note that it is still above its Signal Line (Orange Line). The MACD Line (Blue Line) is still under the 0.0 Base Line in the Negative Zone, be on the lookout for when the MACD Line (Blue Line) crosses back above the 0.0 Base Line into the Positive Zone on this 1d timeframe. If we look at the Average Directional Index (ADX DI) we can see that the Trend Strength has dropped slightly with the ADX (Orange Line) dropping to 43.05 and dropping below its 9 Period EMA (Black Line) which is at 44.21. Note that the -DI (Red Line) has dropped to 22.52 indicating Negative Momentum has dropped. Note that the +DI (Green Line) is slightly sideways at the moment at 13.49. Be on the lookout for when the +DI (Green Line) crosses back above the -DI (Red Line) as this will indicate that Positive Momentum has become DOMINANT over Negative Momentum on this 1d timeframe. Here is a wider look at this 1d chart: I have added 2 areas of interest on this chart indicated by the Horizontal Parallel Black Lines with Yellow Shading. The bottom area is our major support area that VeChain must keep closing above. The top area is the next major area of resistance that VeChain must break back above and more importantly CLOSE a daily candle above this area of resistance. Keep an eye out for any successful re-test a support if there is a breakout. I hope this is helpful with your trading and hodl-ing.
BINANCE:VETUSD
by TradingThroughTheLens
2
Long VETUSD - Elliott impulsive waves phase 3 BULL-RUNIt's not too late to jump on the bandwagon, as phase 3 of Elliott's impulsive wave offers us a nice price target. We saw the bottom of the wave 2 correction that went for the 0.786 Fibonacci retracement towards the $0.056 price. This indicator is powerful to launch the phase 3 of our impulsive.. We can see that we have strongly started the bull-run of phase 3 to go for the top of it. The minor target is $0.35. The major target is $0.41. Personal position at $0.07.
BINANCE:VETUSDLong
by MelvinGst
2
HISTORY WILL ALWAYS REPEAT ITSELF VEThello guys, most of us always think once market dips or bearish , they are overwhelm with sentiments in the market , which is the best time to buy, some always pray for this moment when all assests are down and its an opportunity to buy. Fundamental plays its own role and don't get carried away with the media hypes. Look at the chart and see the past and you will know how the future will hold. we follow the chart and set our buy orders. Relax and wait for the profits to come. Find on the chart our buy orders and enjoy. Tradehubng
BINANCE:VETUSDLong
by Tradehubng