Quick VeChain update. Well done if you bought more VET from that previous dip.
The Price is now back above its Bollinger Bands Middle Band Basis, its Conversion Line (Tenkan Sen) and its Base Line (Kijun Sen) on the daily chart.
The Lagging Span (Chikou Span) is indicating momentum is sideways with the RSI confirming this. I say sideways because sideways trading is done within a range of prices and not at a constant level so the RSI and Lagging Span (Chikou Span) will fluctuate up and down within a range.
The Bollinger Bands Upper and Lower Bands are indicating we may continue to see sideways trading into an eventual Bollinger Bands Squeeze before the next breakout.
If we look at the ADX DI SMA we can see that the +DI (Green Line) is at 19.1 and has crossed back over its -DI (Red Line) which is at 12.6. The ADX (Yellow Line) is at 19.2 and still under its 10 Period SMA (White Line) which is at 34.4. Once the ADX crosses back over the SMA with the +DI still above the -DI then we should see an exponential move like we did on 8th - 12th Feb.
I hope this is helpful.
The Price is now back above its Bollinger Bands Middle Band Basis, its Conversion Line (Tenkan Sen) and its Base Line (Kijun Sen) on the daily chart.
The Lagging Span (Chikou Span) is indicating momentum is sideways with the RSI confirming this. I say sideways because sideways trading is done within a range of prices and not at a constant level so the RSI and Lagging Span (Chikou Span) will fluctuate up and down within a range.
The Bollinger Bands Upper and Lower Bands are indicating we may continue to see sideways trading into an eventual Bollinger Bands Squeeze before the next breakout.
If we look at the ADX DI SMA we can see that the +DI (Green Line) is at 19.1 and has crossed back over its -DI (Red Line) which is at 12.6. The ADX (Yellow Line) is at 19.2 and still under its 10 Period SMA (White Line) which is at 34.4. Once the ADX crosses back over the SMA with the +DI still above the -DI then we should see an exponential move like we did on 8th - 12th Feb.
I hope this is helpful.
Note
1hr chart update
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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.