VE CHAIN VET CLEAN TECHNICAL ANALYSIS Looking at ve chain here on the 4hr time frame.
- Focusing on the outer structure and the bigger picture play happening with this coin we can see price has previously had a major impulsive leg to the upside reaching its most recent all time high.
- Since then price has been corrective in a bearish trend with price forming a symmetrical testing and respecting the trend lines on the upper and lower areas of the structure,
- Most recent price action shows that price has rejected the second touch of the outer triangle and had made an impulsive push to the lower part of the structure.
- Price is now currently in a bear flag continuation pattern. I am anticipating price to make a third touch to this pattern before making the continuation to the downside where there is a high probability of price testing the fib support area near the green box.
- There is also a possibility that price may confirm support at this current fib level located at the orange box area, after price may confirm support from these areas we may see and impulsive push to the upside if price breaks out of the symmetrical triangle.
Vechainanalysis
VECHAIN | CURRENT STATUS | LIVE UPDATED*We will update this chart daily.*
VeChain is currently (at the moment of speaking) trading at 0.188714 dollars.
We just got a correction that was needed to keep the upwards movement. The correction was caused by Bitcoins correction caused by Elon Musk tweeting about not accepting Bitcoin as Tesla's payment because of the huge energy consumption when mining Bitcoin.
But Elon also said that it will do research to let Tesla being paid with other altcoins that have less than 1% of the energy consumption of Bitcoin. This is very good for the market in general. I think Bitcoin can be heading to 100k from now on.
This was one of the corrections I was waiting for.
Tesla will probably choose one of those as new payment:
ADA (Cardano)
XRP
Doge
LTC
EOS
I think doge has the biggest chance of being used because Elon also added a poll on Twitter that was asking if Doge should be used as payment with a 76% answering yes. But silently I hope it will choose ADA :)
Enough about other coins than VET :)
We just broke the resistance of 0.185 dollars. I hope it can close today above this resistance (then it will become support). The next (small) resistance will be 0.2032 but we saw in the past that it easily breaks this resistance/support so I am more looking at the big resistance of 0.2211.
On MA exp Ribbon chart we can see that volume went down and is ready to move up again and on the MACD chart we see that the 2 lines are crossed and is a bullish or upwards signal. If we break our support now we will go down back to 0.1631.
Don't have fear and sell vet, we just had a huge opportunity to buy VET at cheap prices and are ready to start the upwards movement. If we reach 0.2211 in the short term it will be a + 17% so don't panic.
Good luck!
Expect Big Vechain Move Soon!Vechain has been moving sideways for a little bit now and i believe we are going to see a very big run up in the near future! Vechain is currently looking to breakout of a wedge, we are getting very close to the apex of the wedge and I think we will see a break soon. We are getting great support from the Ichimoku cloud, we are still seeing thicker clouds being printed and I think we are going to continue seeing it! Aswell we are seeing great bullish momentum from the EMA ribbons, we are starting to see some spread on the ribbons with 0 signs of slowing down! Our MACD has recently flipped bullish and I believe once we see a breakout of the wedge I think we are going to see a very strong push up possibly up to our 0.2 FIB level! Very bullish on VET overall, Not financial advice just my opinion!
Vechain ready to EXPLODE!Vechain is starting to recover from a much needed correction after making tremendous gains recently! We are currently pushing to break the 0.2 FIB Level after rejecting off of it earlier today. Once Altseason full kicks in i expect VET to fly past its ATH and move into price discovery! Our EMA Ribbons are now recovering turning back to the upside and seeing great separation in the ribbons. The RSI bounced perfectly off the 50. point level showing we are clearly still in an uptrend! we have awhile to go before we are overbought aswell. Our ZL MACD has sunk all the way to the bottom and is beginning to show signs of fully reversing bullish brining IMO an explosive move to the upside and eventually a new ATH! Not financial advice just my opinion! rarible.com Check out my first NFT! More in the making!
VE CHAIN CLEAN TECHNICAL ANALYSIS Looking at VECHAIN - VET here on the 1 hr time frame we can see that price previously has an impulsive rally to a key high area where it tested resistance at $0.28 and made a rejection.
Since then price made a push to the downside breaking through the 0.786 fib support level.
Price is currently in a symmetrical triangle pattern coming from an impulsive move to the downside. Price started this correction after testing the 0.5 fib support which it respected and has formed a multiple touch triangle pattern.
I am anticipating that price will continue to respect this triangle and anticipating a small push to the downside where price action should test the 0.618 support level once again confirming the support to then make a push to the upside possibly testing previous highs
There is a possibility that price may not respect the 0.618 support as the overall trend is coming from an impulsive move to the downside and this triangle may be a continuation pattern.
We may push down further and test the $0.14 area before moving back on track to the upside to create new highs
Thanks for reading !!!
VET Cooldown before new ATHWe saw a marketwide correction last night with most cryptos dropping 15% to me this is nothing out of the ordinary, we have been running up like crazy and with that we need corrections before we can keep moving up, it also great for creating more support. The VET bulls bought up the dip super quick bringing us all the way back up above our 0.2 FIB Level! I think soon enough we will start to see the markets and VET move up again creating new ATHs. The Zero Lag MACD did actually cross bearish but has recovered and flipped back bullish and starting to separate! Our EMA ribbons still look extremely bullish, pointing upwards and starting to spread out and open up carrying us with bull momentum. The RSI is overbought but coming down a little bit and the Ichimoku cloud is printing us green support clouds still but starting to turn a little sideways. Ideally it would be good if we went sideways for a few days before heading back up to create and strengthen support levels. Not financial advice just my opinion
Vechain(VET) Update: 228% Gain from Buy Zone 4..Next Stop $0.33 Vechain(VET) Update 18/04/21: 228% Gained from our Buy Zone 4 from the 4th April to 16th April...Next Stop $0.33 from Buy Zone 5 which is an 81% Gain from 50.0% Fibonacci retracement level. Lets take advantage of the current prices as we will not be seeing these low prices for a long period of time once the Bulls are back in the market for the next push phase. Use the Buy Zones to map your Buys or simply for dollar cost averaging. The Fundamentals are great for this project and we are very bullish on Vechain and can see EOY price target between $2 to $5. See previous analysis below. Happy Trading :)
Vechain(VET) Update 05 /04/21: VET perfect bounce from Buy Zone 4 37% Gain to $0.11. See previous analysis below.
Update 30/03/21
Vechain(VET) looks ready for another 37% Gain to $0.11. Since the 27th March Vechain has been consolidating between $0.087 & $0.097 range. Stochastics are now showing an oversold market and VET looks ready for continued Bullish momentum to the upside. Be patient with your entry as we expect VET to test the 78.60% Fibonacci level before confirmation of a move towards our target at the 127.20% Fibonacci level @ $0.11. Failure to test the 78.60% Fibonacci would see a 12% Gain from the current level to the previos ATH tested on the 22nd March @ $0.10.
Use the Buy Zone ($0.088) to map your entry if you are not already riding the current wave, from here you can DCA to accumulate more coins, 37% Gain to our $0.11 price target.
See previous analysis below. Happy Trading :)
$VET #Hodl
Update 23/03/21
Vechain(VET) looks ready for another 46% Gain to $0.11 at the 127.20% Fibonacci level. Stochastics on 4H showing an oversold market at this price level. On 22 March VET reached $0.10 on the Binance exchange. Since reaching this price level, the price broke below the 13 EMA and 50 SMA as the profit takers came into the market after 21 days of this strong bullish continuation pattern. Although we have broke below both 13 EMA and 50 SMA , overall VET is still bullish and we can expect a bounce from the price pushing above the 50 SMA but be patient as they may be more profit takers in the market. There is a high probability the Bulls will take back control and continue to keep pushing the price higher. Currently VET is showing signs of a weak retracement just below the 78.60 Fibonacci level. Use Buy Zone 3 to map out your Buys from here and if the 13 EMA crosses below the 50 SMA , we will be looking to DCA and Accumulate between the 61.80% to 50% Fibonacci level. From the 61.80% Fibonacci level we expect a 57% Gain to the 127.20% Fibonacci level, this would be the worst case scenario if we get a stronger retracement. See below previous analysis of a new ATH target @ $0.14 as this is the best case scenario from here. Happy Trading :)
Vechain Monthly Outlook Update 23/03/2021
Vechain(VET) Explosive Move New ATH Target, 62% Gain to $0.14, we are very confident this new price target will be reached over the next coming days/week(s). Stochastics showing an oversold market on the 4h
*Update Vechain Outlook 20/03/21*
Vechain is still on course to our 127.20% Fibonacci level, beautiful continuation pattern. Some great Buy Zones to DCA in this channel. New Target @ 161.80 Fibonacci, lets ride this wave to $0.11, 24% Gain from current price level.
Vechain dropped into the perfect Buy Zone zone to enter if you’re not yet in or want to dollar cost average if you’re already riding the current wave. Happy Trading :) See previous analysis below.
*Update Vechain Outlook 18/03/21*
Road to $0.10 is clear, we are still in a strong continuation pattern in search of new ATH at the 127.20% Fibonacci level in the short term. Use Buy Zone 3 to set up your buys, perfect sniper entry would be at the 78.60% Fibs (33% Gain to 127.20 Fibs). Watch for price action as we may see a small retracement down to test the 50 SMA just below the 78.60% Fibs before pushing to the upside towards the $0.08 price level and further $0.10 (40% Gain to 127.20% Fibs).
*13/03/21*
Vechain's price soared to a new ATH on 12/02/21 reaching $0.606 on the Binance exchange. Following the new ATH there was a small retracement before trying to push past the resistance set at ATH , but this failed to break on 19/02/21 and was met with huge selling pressure at these price levels, retracing down further, quite sharply after 4 days on 23/02/21 touching the 50 SMA on the daily chart with a low of $ 0.0341. The downward pressure was met with a sharp bounce on the 50 SMA recovering in a day 24/02/21 back to the 38.20% Fib retracement level showing strong signs of Bulls still in the market. As of the past 3 days the price has been consolidating between a small range between the 38.20% Fibonacci retracement levels and 23.60%. Further to note the price on 2 occasions has tested to break below the 50 SMA failing twice signalling strong bullish pressure and signs of the Bulls to continue driving the current price to test the ATH yet again whilst also setting the sentiment of a possible new ATH at the 127.20% Fibonacci retracement level @ $0.0702.
Furthermore the 200 SMA has been tested at 3 occasions on the 4H Chart, failing to break past this level. Vechain is in a perfect zone for Buys back towards the ATH . Stochastics on the Daily chart signal an extremely oversold market so expect Vet to push back 55% back to ATH levels and Further 74% to 127.20% Fibonacci with the potential to set a new ATH in the coming days to weeks in March.
The Fundamentals are great for this project and we are very bullish and can see EOY price target between $2 to $5. Buy Zone 1 @ 23.60% Fibonacci retracement level for the perfect sniper entry. Be patient, wait for confirmation before entering any buy. Happy Trading :)
Vechain on the verge of a huge run! Vet has undoubtedly been one of the most impressive cryptos in the past couple months putting out great numbers and has been in a very solid uptrend. I really think this is due to the realization from both retail and institution of what Vechain is and what it is doing and providing! We recently created a new ATH and i think we are going to see another one soon! Our Zero Lag Macd looks super bullish and we are seeing strong upwards movement with no sign of slowing down! We are beginning to ride the top of the bollinger bands which is very bullish and you can see the same thing and how it played out around FEB and March on the chart!! Ichimoku cloud is bringing us nice green support clouds, pushing up. Overall i think vechain will be one of the best investments for the future, the technology and what they are doing is so incredible and they already have real world use cases that are being used around the world everyday! Personally I can see myself holding onto most of my Vechain for the next few years! Not Financial advice just my opinion!
Vechain(VET) Update: looks ready for another 37% Gain to $0.11Vechain(VET) Update 05/04/21: VET perfect bounce from Buy Zone 4 37% Gain to $0.11. See previous analysis below.
Update 30/03/21
Vechain(VET) looks ready for another 37% Gain to $0.11. Since the 27th March Vechain has been consolidating between $0.087 & $0.097 range. Stochastics are now showing an oversold market and VET looks ready for continued Bullish momentum to the upside. Be patient with your entry as we expect VET to test the 78.60% Fibonacci level before confirmation of a move towards our target at the 127.20% Fibonacci level @ $0.11. Failure to test the 78.60% Fibonacci would see a 12% Gain from the current level to the previos ATH tested on the 22nd March @ $0.10.
Use the Buy Zone ($0.088) to map your entry if you are not already riding the current wave, from here you can DCA to accumulate more coins, 37% Gain to our $0.11 price target.
See previous analysis below. Happy Trading :)
$VET #Hodl
Update 23/03/21
Vechain(VET) looks ready for another 46% Gain to $0.11 at the 127.20% Fibonacci level. Stochastics on 4H showing an oversold market at this price level. On 22 March VET reached $0.10 on the Binance exchange. Since reaching this price level, the price broke below the 13 EMA and 50 SMA as the profit takers came into the market after 21 days of this strong bullish continuation pattern. Although we have broke below both 13 EMA and 50 SMA , overall VET is still bullish and we can expect a bounce from the price pushing above the 50 SMA but be patient as they may be more profit takers in the market. There is a high probability the Bulls will take back control and continue to keep pushing the price higher. Currently VET is showing signs of a weak retracement just below the 78.60 Fibonacci level. Use Buy Zone 3 to map out your Buys from here and if the 13 EMA crosses below the 50 SMA , we will be looking to DCA and Accumulate between the 61.80% to 50% Fibonacci level. From the 61.80% Fibonacci level we expect a 57% Gain to the 127.20% Fibonacci level, this would be the worst case scenario if we get a stronger retracement. See below previous analysis of a new ATH target @ $0.14 as this is the best case scenario from here. Happy Trading :)
Vechain Monthly Outlook Update 23/03/2021
Vechain(VET) Explosive Move New ATH Target, 62% Gain to $0.14, we are very confident this new price target will be reached over the next coming days/week(s). Stochastics showing an oversold market on the 4h
*Update Vechain Outlook 20/03/21*
Vechain is still on course to our 127.20% Fibonacci level, beautiful continuation pattern. Some great Buy Zones to DCA in this channel. New Target @ 161.80 Fibonacci, lets ride this wave to $0.11, 24% Gain from current price level.
Vechain dropped into the perfect Buy Zone zone to enter if you’re not yet in or want to dollar cost average if you’re already riding the current wave. Happy Trading :) See previous analysis below.
*Update Vechain Outlook 18/03/21*
Road to $0.10 is clear, we are still in a strong continuation pattern in search of new ATH at the 127.20% Fibonacci level in the short term. Use Buy Zone 3 to set up your buys, perfect sniper entry would be at the 78.60% Fibs (33% Gain to 127.20 Fibs). Watch for price action as we may see a small retracement down to test the 50 SMA just below the 78.60% Fibs before pushing to the upside towards the $0.08 price level and further $0.10 (40% Gain to 127.20% Fibs).
*13/03/21*
Vechain's price soared to a new ATH on 12/02/21 reaching $0.606 on the Binance exchange. Following the new ATH there was a small retracement before trying to push past the resistance set at ATH , but this failed to break on 19/02/21 and was met with huge selling pressure at these price levels, retracing down further, quite sharply after 4 days on 23/02/21 touching the 50 SMA on the daily chart with a low of $ 0.0341. The downward pressure was met with a sharp bounce on the 50 SMA recovering in a day 24/02/21 back to the 38.20% Fib retracement level showing strong signs of Bulls still in the market. As of the past 3 days the price has been consolidating between a small range between the 38.20% Fibonacci retracement levels and 23.60%. Further to note the price on 2 occasions has tested to break below the 50 SMA failing twice signalling strong bullish pressure and signs of the Bulls to continue driving the current price to test the ATH yet again whilst also setting the sentiment of a possible new ATH at the 127.20% Fibonacci retracement level @ $0.0702.
Furthermore the 200 SMA has been tested at 3 occasions on the 4H Chart, failing to break past this level. Vechain is in a perfect zone for Buys back towards the ATH . Stochastics on the Daily chart signal an extremely oversold market so expect Vet to push back 55% back to ATH levels and Further 74% to 127.20% Fibonacci with the potential to set a new ATH in the coming days to weeks in March.
The Fundamentals are great for this project and we are very bullish and can see EOY price target between $2 to $5. Buy Zone 1 @ 23.60% Fibonacci retracement level for the perfect sniper entry. Be patient, wait for confirmation before entering any buy. Happy Trading :)
Vechain gearing up for an explosive move!Vet has been going sideways in accumulation for a almost a couple weeks now after its huge run up creating new ATH's and support. I believe its just a matter of time before we see VET go on another huge run creating new ATHS and upper supports! All we have in the way is 1 FIB resistance level coming from the ATH! the longer the accumulation goes for the stronger and more explosive our next move will be! The MACD is looking good we are starting to see a slight point up, I think we are going too see a golden cross any day now at the start of the next run up! We are seeing a nice spread among the EMA ribbons which are also slightly pointing up, dont think we will see a flip of the ribbons anytime. And the coppock curve has been on the fall and we are now reaching the bottom and i expect us to see a reversal sometime soon. Overall very bullish on VET i believe this project is going to play a crucial role in the future of crypto and real world retail which it is already dominating in! NFA just my opinion!
Vechain loading up momentum Vet has been holding our 0.2 FIB level solid and i believe we will see another daily close above here. Our stoch RSI is looking good slowly coming out of the oversold zone aswell our RSI has been going sideways for a little bit now but we are seeing it sloping slightly due to recent price action. The RSI is kind of close to the overbought range, but we have been since the beginning of March without any noteable big dips. I think a lot companies and institutions and retail are starting to realize what VET is and the potential for the great technology its providing. Last the MACD is looking the same as RSI and Stoch building momentum the more accumulation. We could see a Golden cross any day now in my opinion, Not financial advice!
VET ready to push for ATH/ NEW ATHVechain has broke through the 0.2 FIB level a few days ago and has since been holding it very strong, Im confident we will see a daily close once again above the 0.2 FIB and im looking for us to continue up and go for that ATH level and ultimately a new ATH. Watch the MACD closely i would like to see a clear flip to bullish which right now has been twisting in and out of bullish not moving very much. We are seeing nice support coming in from our Ichimoku cloud opening up a bit and slowly pushing higher. The RSI is slightly pointing up still remaining above our 50 line showing a clear uptrend. The Stoch RSI is also starting to point up even more and recently flipped bullish coming out of our oversold zone. Not financial advice just my opinion.
Vechain(VET) looks ready for another 46% Gain to $0.11Update 23/03/21
Vechain(VET) looks ready for another 46% Gain to $0.11 at the 127.20% Fibonacci level. Stochastics on 4H showing an oversold market at this price level. On 22 March VET reached $0.10 on the Binance exchange. Since reaching this price level, the price broke below the 13 EMA and 50 SMA as the profit takers came into the market after 21 days of this strong bullish continuation pattern. Although we have broke below both 13 EMA and 50 SMA, overall VET is still bullish and we can expect a bounce from the price pushing above the 50 SMA but be patient as they may be more profit takers in the market. There is a high probability the Bulls will take back control and continue to keep pushing the price higher. Currently VET is showing signs of a weak retracement just below the 78.60 Fibonacci level. Use Buy Zone 3 to map out your Buys from here and if the 13 EMA crosses below the 50 SMA, we will be looking to DCA and Accumulate between the 61.80% to 50% Fibonacci level. From the 61.80% Fibonacci level we expect a 57% Gain to the 127.20% Fibonacci level, this would be the worst case scenario if we get a stronger retracement. See below previous analysis of a new ATH target @ $0.14 as this is the best case scenario from here. Happy Trading :)
Vechain Monthly Outlook Update 23/03/2021
Vechain(VET) Explosive Move New ATH Target, 62% Gain to $0.14, we are very confident this new price target will be reached over the next coming days/week(s). Stochastics showing an oversold market on the 4h
*Update Vechain Outlook 20/03/21*
Vechain is still on course to our 127.20% Fibonacci level, beautiful continuation pattern. Some great Buy Zones to DCA in this channel. New Target @ 161.80 Fibonacci, lets ride this wave to $0.11, 24% Gain from current price level.
Vechain dropped into the perfect Buy Zone zone to enter if you’re not yet in or want to dollar cost average if you’re already riding the current wave. Happy Trading :) See previous analysis below.
*Update Vechain Outlook 18/03/21*
Road to $0.10 is clear, we are still in a strong continuation pattern in search of new ATH at the 127.20% Fibonacci level in the short term. Use Buy Zone 3 to set up your buys, perfect sniper entry would be at the 78.60% Fibs (33% Gain to 127.20 Fibs). Watch for price action as we may see a small retracement down to test the 50 SMA just below the 78.60% Fibs before pushing to the upside towards the $0.08 price level and further $0.10 (40% Gain to 127.20% Fibs).
*13/03/21*
Vechain's price soared to a new ATH on 12/02/21 reaching $0.606 on the Binance exchange. Following the new ATH there was a small retracement before trying to push past the resistance set at ATH , but this failed to break on 19/02/21 and was met with huge selling pressure at these price levels, retracing down further, quite sharply after 4 days on 23/02/21 touching the 50 SMA on the daily chart with a low of $ 0.0341. The downward pressure was met with a sharp bounce on the 50 SMA recovering in a day 24/02/21 back to the 38.20% Fib retracement level showing strong signs of Bulls still in the market. As of the past 3 days the price has been consolidating between a small range between the 38.20% Fibonacci retracement levels and 23.60%. Further to note the price on 2 occasions has tested to break below the 50 SMA failing twice signalling strong bullish pressure and signs of the Bulls to continue driving the current price to test the ATH yet again whilst also setting the sentiment of a possible new ATH at the 127.20% Fibonacci retracement level @ $0.0702.
Furthermore the 200 SMA has been tested at 3 occasions on the 4H Chart, failing to break past this level. Vechain is in a perfect zone for Buys back towards the ATH . Stochastics on the Daily chart signal an extremely oversold market so expect Vet to push back 55% back to ATH levels and Further 74% to 127.20% Fibonacci with the potential to set a new ATH in the coming days to weeks in March.
The Fundamentals are great for this project and we are very bullish and can see EOY price target between $2 to $5. Buy Zone 1 @ 23.60% Fibonacci retracement level for the perfect sniper entry. Be patient, wait for confirmation before entering any buy. Happy Trading :)
Watch VETs daily closeWe are holding the 0.2 FIB pretty strong but the chance that we do breakthrough and close below i think we would see a little dip possibly down to the 0.3 FIB level, but if we do close above the 0.2 I believe we will start to bounce back upwards. The EMA ribbons are still super bullish carrying us with momentum, wave trend oscillator is still hanging around the top zone and the stoch rsi is coming down back into the neutral zone from overbought, overall still very bullish on Vechain and will definitely be picking up more if we see a bit of a dip. NFA just my opinion
VeChain getting some interest from the big $'s todayInteresting data pointing to this lesser discussed coin. Data pointers are definitely on this one though. There is also confirmation of a true (refreshing) bid in the slope of the ascent so far. Alot of times these types of charts push like this directly into a skyrocketing exponential up... which tends to end with heavy volatility, mind you. All the same this one looks primed for some possible real upside. A good risk conscious entry might be at the $0.087 level looking for big ups into the $1+ range.
Filecoin and Ripple continue to show big $ interest today was well.
Vechain Looking FantasticVET undoubtedly has the best looking chart out right now on the month, we have had a very steady climb and recently have made New ATHS and hanging out in price discovery mode, for the short term (next day or two) i think there is going to be some profit takers and a little bit of selling on vechain. Our stoch RSI has been hovering around the overbought area and has now shot up into that zone. we also see the Wave Trend Oscillator is pushing into the top zone. We could possibly see a little bit of a cool off bringing us down to maybe the 0.2 FIB but i doubt we would see price go any further than that, Our EMA ribbons are showing no signs of cooling down, they are pointing up and actually starting to open up even more. Overall super bullish on Vechain we have been seeing lots of institutional adoption and attention and i believe a lot of people are starting to realize what VET is and what the ecosystem is providing! Remember the past week we have seen overall very red days in the crypto market yet VET was still shining showing its strength! If we do see a little cooloff dip i dont think itll last for long then we can continue the push up! NFA just my opinion
Update for Vechain(VET) Explosive Move Back To ATH and beyond*Update Vechain Outlook 20/03/21*
Vechain is still on course to our 127.20% Fibonacci level, beautiful continuation pattern. Some great Buy Zones to DCA in this channel. New Target @ 161.80 Fibonacci, lets ride this wave to $0.11, 24% Gain from current price level. Happy trading :)
*Update Vechain Outlook 18/03/21*
Road to $0.10 is clear, we are still in a strong continuation pattern in search of new ATH at the 127.20% Fibonacci level in the short term. Use Buy Zone 3 to set up your buys, perfect sniper entry would be at the 78.60% Fibs (33% Gain to 127.20 Fibs). Watch for price action as we may see a small retracement down to test the 50 SMA just below the 78.60% Fibs before pushing to the upside towards the $0.08 price level and further $0.10 (40% Gain to 127.20% Fibs).
*13/03/21*
Vechain's price soared to a new ATH on 12/02/21 reaching $0.606 on the Binance exchange. Following the new ATH there was a small retracement before trying to push past the resistance set at ATH , but this failed to break on 19/02/21 and was met with huge selling pressure at these price levels, retracing down further, quite sharply after 4 days on 23/02/21 touching the 50 SMA on the daily chart with a low of $ 0.0341. The downward pressure was met with a sharp bounce on the 50 SMA recovering in a day 24/02/21 back to the 38.20% Fib retracement level showing strong signs of Bulls still in the market. As of the past 3 days the price has been consolidating between a small range between the 38.20% Fibonacci retracement levels and 23.60%. Further to note the price on 2 occasions has tested to break below the 50 SMA failing twice signalling strong bullish pressure and signs of the Bulls to continue driving the current price to test the ATH yet again whilst also setting the sentiment of a possible new ATH at the 127.20% Fibonacci retracement level @ $0.0702.
Furthermore the 200 SMA has been tested at 3 occasions on the 4H Chart, failing to break past this level. Vechain is in a perfect zone for Buys back towards the ATH . Stochastics on the Daily chart signal an extremely oversold market so expect Vet to push back 55% back to ATH levels and Further 74% to 127.20% Fibonacci with the potential to set a new ATH in the coming days to weeks in March.
The Fundamentals are great for this project and we are very bullish and can see EOY price target between $2 to $5. Buy Zone 1 @ 23.60% Fibonacci retracement level for the perfect sniper entry. Be patient, wait for confirmation before entering any buy. Happy Trading :)