VeChain/USDT. Testing the 0.5 Fibonacci.
Current Market Cap 1.69 Billion
Since it dumped to 0.00157 during the March 20 sell-off, VeChain rocketed up over %17,000 to a high of 27.9 cents!
Shortly after, the "Incredible Sell" prints, these signals should not be ignored on higher TF's.
Price has since corrected over 92% and finds itself @ the 0.5 Fib level (2 cents) This area is also previous resistance now being tested as support.
We also have a non confirmed conditional buy signal.
Should the 0.5 level not hold up, long term bulls should look for buys in the golden pocket (1 cent) This area is a support/demand zone / previous minor resistance.
The POC compliments the 0.786, (half a cent) long term bulls should reload again.
Biggest Volume Profile appears between 0.3 - 1 cent.
RSI is forming a nice falling wedge, a breakout + HH could initiate a rally. Stochastic is oversold.
Selling Volume has slowly declined over time.
Timing the tops/bottoms isn't important nor does it work. DCAing into your favourite projects that you believe in is best.
About..
VeChain is an enterprise blockchain platform that aims to provide a full view of an organization by disintermediating information from data silos.
VeChain also plans to become a leading platform for initial coin offerings (ICOs) and for conducting transactions between Internet of Things (IoT) connected devices.
VeChain makes use of two tokens: VeChain token (VET) as a value layer and VeChain Thor Energy (VTHO) as a smart contract layer.
Speculative Setup, DYOR. Allow 3-18+ Months For all Crypto Ideas.
Credit to without_worries for allowing use of indicators.
Since it dumped to 0.00157 during the March 20 sell-off, VeChain rocketed up over %17,000 to a high of 27.9 cents!
Shortly after, the "Incredible Sell" prints, these signals should not be ignored on higher TF's.
Price has since corrected over 92% and finds itself @ the 0.5 Fib level (2 cents) This area is also previous resistance now being tested as support.
We also have a non confirmed conditional buy signal.
Should the 0.5 level not hold up, long term bulls should look for buys in the golden pocket (1 cent) This area is a support/demand zone / previous minor resistance.
The POC compliments the 0.786, (half a cent) long term bulls should reload again.
Biggest Volume Profile appears between 0.3 - 1 cent.
RSI is forming a nice falling wedge, a breakout + HH could initiate a rally. Stochastic is oversold.
Selling Volume has slowly declined over time.
Timing the tops/bottoms isn't important nor does it work. DCAing into your favourite projects that you believe in is best.
About..
VeChain is an enterprise blockchain platform that aims to provide a full view of an organization by disintermediating information from data silos.
VeChain also plans to become a leading platform for initial coin offerings (ICOs) and for conducting transactions between Internet of Things (IoT) connected devices.
VeChain makes use of two tokens: VeChain token (VET) as a value layer and VeChain Thor Energy (VTHO) as a smart contract layer.
Speculative Setup, DYOR. Allow 3-18+ Months For all Crypto Ideas.
Credit to without_worries for allowing use of indicators.
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