VeChain lookin' as strong as Thor
Ichimoku Kinko Hyo
Chikou - Bullish upcross on 3/8. Still high above price and trending up. No sell signal yet.
Tenken Sen - Signals strong market trend currently
Kijun Sen - Standard line is very bullish, trending up, price has room to run still.
Senkou span A&B - Both spans are acting as support, and our two spans are very close together indicating very little volatility, a twist in the kumo just took place with span A leading a bullish uptrend
Chart Patterns -
Falling Wedge - VEN began the formation of a falling wedge 2/26 and this signals a bullish reversal.
Cup and Handle
Signature cup and handle pattern in that the price is testing old highs. This is a bullish continuation pattern.
Fibonacci/MACD/RSI
Price is sitting right near the .382 fib. Golden ratio at ~50k
MACD is high but still bullish
RSI bounced off support at 15 and currently trending back up
Watch for the price to break its fib level and the falling wedge pattern. Price needs to break the next 2 fib levels at .5 and .618, as well as the next two levels of psychological resistance before the cup and handle can be confirmed.
This breakout is confirmed by volume but will be facing selling pressure from traders who bought during previous highs.
Chikou - Bullish upcross on 3/8. Still high above price and trending up. No sell signal yet.
Tenken Sen - Signals strong market trend currently
Kijun Sen - Standard line is very bullish, trending up, price has room to run still.
Senkou span A&B - Both spans are acting as support, and our two spans are very close together indicating very little volatility, a twist in the kumo just took place with span A leading a bullish uptrend
Chart Patterns -
Falling Wedge - VEN began the formation of a falling wedge 2/26 and this signals a bullish reversal.
Cup and Handle
Signature cup and handle pattern in that the price is testing old highs. This is a bullish continuation pattern.
Fibonacci/MACD/RSI
Price is sitting right near the .382 fib. Golden ratio at ~50k
MACD is high but still bullish
RSI bounced off support at 15 and currently trending back up
Watch for the price to break its fib level and the falling wedge pattern. Price needs to break the next 2 fib levels at .5 and .618, as well as the next two levels of psychological resistance before the cup and handle can be confirmed.
This breakout is confirmed by volume but will be facing selling pressure from traders who bought during previous highs.
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Disclaimer
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Join The Spekre ACS Creator Pool and gain access to exclusive trading indicators, copy trading, exclusive content, and more tools in the future! Link: hub.accessprotocol.co/creators/J8TpW6cypxheFUYjWn4mxS6ExvBEMxyMiRvrf43Nhnvy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.