Chart explains itself, I am seeing a ABC correction to 50 cents, as part of Wave 2 of the 5 Wave movement. Launch from 50 cents, as part of Wave 3.
If it just launches off the green ascending trend line instead, then analysis is rejected.
VET has recently tested the upper wedge line, revalidating the importance of it. On 4 different occasions it tested the upper wedge line before coming back down.
From here we might push past the wedge line to 0.06. But it is also equally likely to range in this wedge longer, consolidating strength before pushing out of the wedge into new highs past 0.06.
The Trend line that began on the 27th Jan is still intact! the market wide dump produced an hourly candle that wicked extremely low, but produced a close above the trend line.
Would like to see a retest of the 0.06 resistance, to gauge buying energy.
VET has experienced a dump to 0.42 amidst the market wide dump in crypto, invalidating the sideways bound consolidation between 0. 05 and 0.06.
now we are looking at a wedge forming in the medium term trend line , from the bottom on 10th Feb, and the top formed on the 13th of Feb.
2 possible movements according to the chart.
Both are likely movements as the RSI...
VET has broken below the short term trend line, signaling the end of this short term rally for now.
However, it has ranged between 0.06 and 0.05 so far, showing tight consolidation sideways, as we've predicted.
It COULD range sideways until about 20th Feb, where it meets the medium term trend line and reacts to it.
Now would be a good time to accumulate if you...
As predicted from previous analysis on XLM,
XLM has bounced off the 0.50 level with high energy, turning this level into a support.
Sideways movement can be expected, as the RSI resets into a more favorable position. Alternatively, it can have enough energy to blast through the 0.60 resistance level, and meet heavy resistance at 0.70 on the upper wedge formation...
XLM has been in an up leg pretty much in tandem with VET, marking the 0.60 as the temporary top/resistance level.
Sideways movement might be likely during consolidation, but a retest of the 0.50 level would be healthier. If it does correct to the 0.50 level, a convergence of the short term trend line that began on the 10th, the 0.50 level, as well as the 50 EMA,...
VET has hit the 0.06 resistance level on 2 different 1 hr candles, validating this resistance level as a temporary short term top.
It might go sideways during consolidation, which might be likely. However, if it does correct to the 0.05 level, it might find strong support with the potential convergence of the 50 EMA, the 0.05 level, along with the short term...
Stellar is in relatively perfect position to launch to the 0.70 resistance where it meets the long term rising wedge pattern. Given the bullish crypto market right now, it could very well break right through the wedge to new highs, before retesting the upper line of the wedge formation. It could also reject on the upper line of the wedge, revalidating the wedge...
VET has broken out of the channel that began in early Jan.
Ideally it will test 0.05 before finding support on the channel line projection in conjunction with the short term trend line in green.
It could also go straight up from here and break right through the 0.05 major resistance, however it will look extremely oversold and fatigued on both the RSI and...
Seeing a super large impulse wave on the daily log chart since the 13th of March, which puts this wave at the end of wave 3. An extension to 2000 might be possible before a wave 4. Divergence on the RSI almost mirrors the pattern in the previous wave 1 up.