Look back at S&P history and see that when S&P bounces or breaks out of the 200-day MA, it stays that course for a while. It is also coming up against resistance of a downward trendline.
What the S&P does of the next few day could very well determine which way the market is heading.
In my opinion, VEN has reversed its downward trend which have been confirmed by three different analysis tools. First, it has broken its downward channel. Second, it has entered into a new, upward channel. Third, it has crossed into the Ichimoku cloud which means it is no longer in a downward trend.
Short term, bullish for VeChain but decreasing volume is a concern. Lock up drives supply down, but it still needs a big push to break through trendline .
Short term, bullish for VeChain but decreasing volume is a concern. Lock up drives supply down, but it still needs a big push to break through trendline.
