Will the chain Vehold or Vebreak?
Updated
Vechain tumbled quickly after falling past the bottom of its upward channel. It's now testing red while being squeezed from above by the EMA 20.
It could find support and bounce up, but would have to break above the EMA 20 for any significant increase to occur. Watch for an up tick in volume.
However, if its breaks support of red it could end up falling hard since were already out of the upward channel. Both the examples I highlighted still had the lower channel for support. This time we do not, so who knows where it would stop. If you zoom way out on the chart its possible that were at the ominous part of the repeating purple pattern.
Ill be looking to buy somewhere between in the green box if volume looks good, sidelines if it free falls.
It could find support and bounce up, but would have to break above the EMA 20 for any significant increase to occur. Watch for an up tick in volume.
However, if its breaks support of red it could end up falling hard since were already out of the upward channel. Both the examples I highlighted still had the lower channel for support. This time we do not, so who knows where it would stop. If you zoom way out on the chart its possible that were at the ominous part of the repeating purple pattern.
Ill be looking to buy somewhere between in the green box if volume looks good, sidelines if it free falls.
Note
We've had a small bounce below major support, but volume is still low so no signs of a breakout yet. There is still some distance for the EMA 20 to travel lower to match the top of the price action. Once it really begins squeezing is when we might see a breakout occur. Sit tight however as we could go lower with the current volume.Note
Vechain continues to be squeezed from above and has begun testing the EMA 20 as upward resistance. As mentioned before, be on the lookout for a breakout above the EMA 20 with an uptick in volume. 
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