VeChain - A traditional analysis
A look at the VeChain Daily Chart using some traditional methods.
VeChain is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this daily chart.
VeChain is still below its 50EMA level on this daily chart.
VeChain is in a Descending Channel (Dotted Line) on this daily chart.
VeChain is also in an Ascending Triangle (Dashed Line) on this daily chart. The Ascending Triangle has a small upwards trend-line and a potential longer upwards trend-line. We can expect strong resistance at the resistance of the Ascending Triangle. We need the upwards breakout to be on strong volume and if there is a retest after the breakout, that resistance needs to be turned into strong support.
Volume is still relatively low on this daily chart and the Volume Bar is still below its Volume 20 Period Moving Average.
VeChain is still below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range.
VeChain is above its Volume Profile Fixed Range VPFR Point of Control (POC) for the range i have selected. VET needs to stay above this level.
The Moving Average Convergence Divergence (MACD) is showing the MACD Line (Blue Line) is pointing upwards and the Signal Line (Orange Line) is pointing sideways. So we may see the MACD Line cross back ABOVE the Signal Line on this daily chart which would form new Green Histograms and is a potential buy signal. A full Bullish trend is confirmed when the MACD Line crosses back over the 0.0 level, this will be a signal that a 12 Period EMA has crossed back above a 26 Period EMA on this daily chart and would bring the MACD into the positive zone.
The Relative Strength Index (RSI) is showing upwards momentum has increased and note that the RSI (Purple Line) is above its 9 Period EMA (Orange Line). The RSI is showing that VeChain has a huge amount of room to move up before becoming overbought.
You all know how passionate i am about VeChain and it's future in the world of Blockchain. There is a possibility that VeChain might drop more within its Descending Channel before any potential breakout, so any dips should be used to accumulate more for your Dollar Cost Averaging (DCA).
I hope this traditional analysis is helpful with your trading and hodl-ing.
VeChain is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this daily chart.
VeChain is still below its 50EMA level on this daily chart.
VeChain is in a Descending Channel (Dotted Line) on this daily chart.
VeChain is also in an Ascending Triangle (Dashed Line) on this daily chart. The Ascending Triangle has a small upwards trend-line and a potential longer upwards trend-line. We can expect strong resistance at the resistance of the Ascending Triangle. We need the upwards breakout to be on strong volume and if there is a retest after the breakout, that resistance needs to be turned into strong support.
Volume is still relatively low on this daily chart and the Volume Bar is still below its Volume 20 Period Moving Average.
VeChain is still below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range.
VeChain is above its Volume Profile Fixed Range VPFR Point of Control (POC) for the range i have selected. VET needs to stay above this level.
The Moving Average Convergence Divergence (MACD) is showing the MACD Line (Blue Line) is pointing upwards and the Signal Line (Orange Line) is pointing sideways. So we may see the MACD Line cross back ABOVE the Signal Line on this daily chart which would form new Green Histograms and is a potential buy signal. A full Bullish trend is confirmed when the MACD Line crosses back over the 0.0 level, this will be a signal that a 12 Period EMA has crossed back above a 26 Period EMA on this daily chart and would bring the MACD into the positive zone.
The Relative Strength Index (RSI) is showing upwards momentum has increased and note that the RSI (Purple Line) is above its 9 Period EMA (Orange Line). The RSI is showing that VeChain has a huge amount of room to move up before becoming overbought.
You all know how passionate i am about VeChain and it's future in the world of Blockchain. There is a possibility that VeChain might drop more within its Descending Channel before any potential breakout, so any dips should be used to accumulate more for your Dollar Cost Averaging (DCA).
I hope this traditional analysis is helpful with your trading and hodl-ing.
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