Velas with BIG UPDATE: VELAS 2.0 IS A GAME CHANGER IN CRYPTOTechnical Analysis for Velas (VLX)
Velas 2.0 represents a significant upgrade to the Velas blockchain, enhancing its scalability, security, and user experience. This update introduces several key features:
Enhanced Performance: Velas 2.0 offers improved transaction throughput and reduced latency, enabling faster and more efficient operations.
Advanced Security Measures: The update incorporates robust security protocols to safeguard user assets and data against potential threats.
User-Friendly Interfaces: Velas 2.0 provides intuitive interfaces for both developers and users, simplifying interactions with the blockchain.
Expanded Ecosystem Support: The upgrade facilitates seamless integration with various decentralized applications (dApps) and services, broadening the Velas ecosystem.
Price Action & Trend:
Current Trend: The chart indicates that Velas (VLX) has been in a descending channel, with price movement within this range. It appears to be moving between resistance and support levels.
Resistance & Support Levels:
Key Resistance Levels: The resistance levels are noted at around 0.02700 and 0.02517, which have proven to be significant barriers in the past.
Key Support Levels: Support is identified in the range around 0.01400, with a consolidation zone suggesting strong buyer interest near this level.
Indicators:
VMC Cipher B Divergences:
The VMC Cipher B indicator suggests that price might be moving in a more stable range or could potentially reverse if further divergence is observed.
Currently, the signal is showing some signs of bullish divergence, meaning there might be a potential price breakout to the upside soon.
RSI (Relative Strength Index):
The RSI value is currently at 57.34, indicating that the asset is in the neutral zone. It is neither overbought nor oversold, suggesting that there could still be room for price movement in either direction.
If the RSI approaches 70 (overbought), it may signal a potential reversal downward.
Stochastic Oscillator:
The Stochastic Oscillator is at 57.26, which is also in the middle of the scale, confirming the neutral sentiment. If this indicator moves above 80, it could indicate overbought conditions, while a drop below 20 might signal an oversold condition and potential price reversal to the upside.
Current Momentum:
The ascending channel suggests potential upward momentum, particularly if price breaks the resistance level near 0.017971.
Market Sentiment: Given the announcement of Velas 2.0, there could be positive news driving the price surge, and with continued positive sentiment, further movement towards 0.02500 could be expected.
Trading Plan:
Bullish Scenario:
Entry: A break above the resistance zone of 0.017971 could be considered a signal for entering a long position. The next potential target would be the 0.02000 resistance level.
Take Profit: Set the first take-profit target around 0.02500. A second target could be near the 0.02700 zone, depending on market momentum.
Stop Loss: Place a stop-loss just below the support level of 0.01400 or the recent swing low to protect against significant losses.
Bearish Scenario:
Entry: If the price fails to break above resistance and starts moving back down towards 0.01400, a short position could be considered. Monitor the RSI and Stochastic Oscillator for oversold conditions as confirmation.
Take Profit: In the case of a bearish trend, aim for take-profit targets near 0.01195 and 0.01000.
Stop Loss: Set the stop-loss just above the previous resistance level around 0.017971 to minimize losses.
Neutral Scenario:
In a scenario where price fluctuates between the support and resistance levels, consider a range trading strategy. Buy near the support zone and sell near the resistance zone, using shorter timeframes for better entry and exit points.
Fundamental Catalyst:
The Velas 2.0 announcement is a key event that could lead to a potential price surge. Monitor any news or updates from the project, as these may drive the price upward, influencing both short-term and long-term movements.
This analysis and plan should be used to guide your trading decisions, but it's essential to regularly reassess the market and adjust your strategy accordingly, especially with the developments in the cryptocurrency space.
ALEX
$ALEX Alex's channel.... 45% retracement completed!NYSE:ALEX reached a height of $0.54 and has currently retraced 45% to its current level at 0.34
Two things can happen!
NYSE:ALEX can continue retracing to find a major support at $0.25 (perfect buy the dip opportunity) OR
#ALEX price action can bounce off its current channel support to find resistances: 0.42, 0.54 and possibly price discovery at 0.69, 0.82
THIS IS MY 100TH idea! Darm!
$alex Alex decision point! Bullish continuation or retracement?NYSE:ALEX Alex price action has been on a tear for weeks and is currently printing a channel.
Current Price: 0.38
Decision point!
Will NYSE:ALEX continue to higher prices. Above Resistances:0.42, 0.48, 0.54, 0.60
Or is it time for Retracement? Bearish Divergence on the weekly timeframe.
Supports: 0.30, 0.25 0.20 (Dip buying opportunities)
$ALEX Alex Broadening WEdge....NYSE:ALEX ALex's price action has had a bullish thrust upwards... Following Bitcoin's Strength!
Price is currently forming a Broadening WEdge.
Current Price: 0.35
#ALEX Break down from Wedge will make for Buy the dip levels at supports: 0.3, 0.25, 0.20
A continues Thrust upwards will lead to resistances at 0.42 up to 0.62
PLTR - Rise to the Top of the ChannelHello everyone,
I hope you are all doing well!
In this analysis, we have are moving inside a huge channel and are currently at the bottom.
We are sitting on a KEY SUPPORT that I beleive we are going to hold and go to $31.
There is possibility of more bad news and break lower. The lowest point would be between $16 and $14 and from then on, we would rise back up to touch the channel once again and most likely break it.
Currently, only 3.43% of the shares are in profit. Think about how the BIG hedgies would react to being at a Loss, would they Sell or Doubble Down and Average Down their position? These prices are a steal to have for Long-Term investing and 96.57% are bought higher than you would buy now ;)
Controlling your emotions is one of the key elements in being profitable in trading and now is the time for the market to test your control. Do not panic sell as there has not been any funadmental changes in the price to bring it down as much with the company, the investment funds are currently in Crypto, so that is why we have fallen so much. As soon as Crypto dies, the funds will flow back.
Thank you for the attention, I wish you an amazing Friday!
AUDUSD short is a goAUDUSD seems like its continuing its trend back down. After creating a lower low and a failing to create a new high, we can now expect AUDUSD to drop lower to around 0.70000. Currently I'm already in this pair as a bullish trendline is broken. Let's hope this drops quick with little consolidation.
Be sure to follow my tradingview as I give out daily analysts and trades. And also feel free to leave a comment if you agree or disagree. Cheers!