Hello Ladies and Gentlemen!
Today I will share my thoughts on the long term perspective for VET/USDT. (AGAIN :D)
1. As you all can see, we are forming a falling wedge on the 1D chart but all EMA's (300, 200, 100, 50, 25) are still acting as a resistance.
2. We are clearly in a critical price zone, as the last rally pump from feb/march happened in this price...
Since my last VET chart price has declined and found support at the average price volume (pink dotted). Now VET must break above the downtrend (yellow) and back above long term support (green). It's quite common for pullbacks that breached long term supports to break above with little resistance. However, this signifies that price may easily break below it...
What a carnage, after great news with Walmart price hit 1 cent, now dropped almost 60% from that point. Really weak price action of this coin which can't even be shorted on leverage. Its telling you that the team is distributing it left, right and centre. At this stage it can consolidate in low 0.004s but double bottom is in play.
Vechain is slowly building momentum upward. It is one of the crypto project with very strong fundamentals behind it and with the recent onboarding of Walmart china, i expect very good things to come for Vechain. Had a good bounce at 5006sats. I've establish 3 profit taking level at 7080sats, 8900sats and finally 10710sats.
This is a risker trade with the sword hanging over BTC's head but given the way the market climate will be over the next few days before the sword drops there are some opportunities to make some quick swing trades with some alts.
VET recently got some good news about their partnerships with Walmart China and have announced a $25mil buyback of their token over the...
Touched two different support lines, only one left and after that its a dead coin. I believe it will bounce now, but if not then most likely after the other touch point. Vechain is a great coin, it will do at least 3x within the next 3 month.s
As you can see in my post I have a couple of reasons for you to decouple from the VET/BTC chart and start to focus at something more interesting and most important - away from Bitcoins usual manipulation!
First of all, I would like to point out that beautiful uptrend we had the last months beginning from ~January.
1. We are building support ABOVE...