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Velas

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.
CRYPTO:VLXUSDLong
by elfabiiani
1
Velas is the real monster! Skyrocketing + Solana fork on horizonTechnical Analysis for VELAS Cryptocurrency VELAS ( LSE:VLX ) is currently at a very low market cap, presenting a tremendous opportunity for investors and crypto enthusiasts. As one of the most promising projects in the blockchain space, VELAS is working on a groundbreaking fork of Solana, a move that could drastically enhance its scalability and performance. Once the fork is completed and the full potential of the technology is realized, the price is expected to skyrocket, positioning VELAS as one of the top contenders in the crypto market. Now is the perfect moment to closely monitor LSE:VLX , as the project is on the cusp of significant development and growth. Market Overview: At present, VELAS remains under the radar for many investors, with its market cap being relatively small. However, this presents a unique opportunity for those who understand the project's long-term potential. The current market conditions offer a window to enter at an attractive price point before the inevitable surge once the Solana fork is completed. Key Fundamentals: Solana Fork: VELAS’s primary focus is to fork Solana’s high-speed, scalable blockchain technology, which offers significant improvements in transaction speeds and lower fees compared to other blockchains. Project Team and Development: The development team is focused on optimizing the codebase to ensure that the VELAS network will be capable of handling millions of transactions per second (TPS) without sacrificing decentralization. Partnerships and Ecosystem Growth: VELAS has been actively seeking strategic partnerships with decentralized finance (DeFi) projects, NFT platforms, and major players in the Web3 space. As the ecosystem grows, it will bolster the demand for LSE:VLX tokens. Technical Indicators: Price Action: Currently, VELAS is trading in a consolidation phase after a slight dip in its price. This is typical for assets before major updates or forks are launched. Traders and investors should keep an eye on support levels around the $0.30–$0.35 range. A breakout above the resistance at $0.50 would signal the start of a bullish trend. Moving Averages: The 50-day and 200-day moving averages are converging, which often indicates that a breakout is on the horizon. This crossover will serve as a critical indicator of a trend shift from bearish to bullish. RSI (Relative Strength Index): The RSI currently sits below 40, indicating that LSE:VLX is in oversold territory, which suggests the potential for an upcoming rally. This could present an entry point for those looking to capitalize on the upcoming price surge. MACD (Moving Average Convergence Divergence): The MACD is showing signs of positive momentum, and the histogram is beginning to turn upward, which could signal that the price is gearing up for an upward move. Support and Resistance Levels: Support Level: $0.30 is the critical support level for VELAS. Should the price dip below this level, further downside is possible, but the project’s long-term prospects make this a likely bounce point. Resistance Levels: The first major resistance is $0.50, followed by the psychological barrier of $1. If VELAS can break these resistance levels, it could quickly gain significant upward momentum, especially with the completion of the Solana fork. Trade Setup: Entry Point: Now and on spot trading only! VELAS is a high-potential cryptocurrency that is at the intersection of low market cap and major technological advancements, particularly with its Solana fork. The current price offers an enticing entry point for investors looking to position themselves before the upcoming price surge. By utilizing technical indicators and monitoring key support and resistance levels, you can develop a solid strategy to trade VELAS effectively. With the Solana fork on the horizon, VELAS is well-positioned to experience a significant rise in its value in the coming months.
CRYPTO:VLXUSDLong
by elfabiiani
WAGYUSWAP Technical Analysis & Trading Plan by Blaž FabjanWAGYUSWAP Cryptocurrency Technical Analysis & Trading Plan WAGYUSWAP is currently at a very low market cap, presenting an exceptional opportunity for investors. As the primary exchange for the Velas ecosystem, it holds significant promise. Velas is undergoing a transformative fork from Solana, which will bring vast improvements to its blockchain. When the fork is completed and fully developed, the price of WAGYUSWAP is expected to skyrocket, potentially creating significant returns for those who invest now. This is a rare opportunity to position yourself for massive gains. Not a financial advice :) Technical Overview The chart above shows the price action of WAGYUSWAP paired with Tether (WAGYUSDT) in a 4-hour time frame. Currently, the cryptocurrency is showing a strong ascending trading channel, indicating an ongoing bullish trend. Key Indicators: Volume Analysis: The volume indicator shows increasing buying activity, which is a strong sign that the market is gaining momentum. Currently, the volume is 69.194K, which is healthy and showing interest in the coin. RSI (Relative Strength Index): The RSI is currently at 66.94, which is just below the overbought zone. This suggests that while the market is in bullish territory, there is still room for upward movement before it reaches the overbought condition. This is a good sign for further upside potential. Stochastic Oscillator: The Stochastic indicator is sitting at 67.93, indicating a potential continuation of the uptrend. A reading above 60 often signals a strong bullish trend, further confirming the current bullish sentiment. Money Flow Index (MFI): The MFI is currently at 36, which is low but shows the potential for a reversal into positive territory. This suggests that the market is likely to see inflows, further confirming the buying interest in the cryptocurrency. VMC Cipher B Divergence: This indicator is showing some promising signs of continued upward movement. The green dots indicate bullish divergences, which suggest that buying pressure is building and could result in higher prices. Price Action and Trend: The price is moving in a well-defined ascending trading channel, with a breakout likely imminent. The market has just tested the lower boundary of this channel, which is the perfect accumulation point for investors who wish to enter before the price surges. The key support levels lie at 0.0006005 and 0.0013976, with the upper boundary marked by the blue line indicating the potential for price targets as high as 0.0015419. A breakout above this level could see significant movement to the upside. Trading Plan Entry Strategy: Now on spot trading and wait until there is a good opportunity to take gains out. Simple as that! Timing: The breakout is imminent, as indicated by the chart's technical structure. This is a time-sensitive opportunity, so ensure you are ready to act as the market shows signs of upward movement. Time to invest is NOW before the price takes off due to the strong bullish momentum and the upcoming developments in the Velas ecosystem. Conclusion The current price of WAGYUSWAP is a golden opportunity for investors. With the development of the Velas fork for Solana, the potential for massive upside is clear. The price action shows bullish momentum, and the technical indicators suggest a strong continuation of the trend.
Long
by elfabiiani
VELAS is ready to fly (Alex Alexandrow is back)🚀 VELAS: The Future of Blockchain! 🚀 NOW is the time to act on VELAS ( LSE:VLX )! With the return of Alex Alexandrow, a pivotal figure in the Velas ecosystem, the project is re-energized, and bullish momentum is about to take off. This is your chance to get in at the right time before Velas rockets up. The chart shows a clear bullish reversal pattern, signaling a massive breakout potential! The clock is ticking, be part of the next wave in crypto! Technical Analysis of VELAS ( LSE:VLX ) by Blaž Fabjan The 1-hour chart of VELAS shows the formation of a classic falling wedge pattern, which is a well-known bullish reversal signal. Here's a detailed breakdown: Falling Wedge: Bullish Reversal Support and Resistance: The wedge pattern is narrowing, indicating that the price has been consolidating, building pressure for a breakout. Breakout Imminent: As the price has broken out of the wedge, this confirms a potential bullish reversal. Expect upward momentum in the near future. Technical Indicators VMC Cipher B (Volatility & Momentum): The indicator shows signs of divergence, with momentum shifting towards bullish territory. Expect increased buying pressure soon. Look for key bullish signals like green dots or a shift in the oscillator for confirmation. RSI (Relative Strength Index): RSI is hovering around 44.7, indicating that the asset is neutral but leaning towards an oversold condition. This suggests the price is ready to rise as momentum builds. Stochastic Oscillator: The stochastic is bouncing from a low of 47, indicating that bullish momentum is starting to pick up. Crossovers here signal a potential upward trend. Key Levels to Watch Immediate Resistance: $0.01194 — this level is crucial for confirming the bullish reversal. Once broken, it opens the door for further gains. Next Targets: After surpassing $0.01194, the next target is around $0.0166, which is the previous high and a major psychological barrier. Support: $0.01115 — should act as strong support if prices retest this level during a short-term pullback. Trading Plan for VELAS Entry Strategy: Entry Zone: $0.0112 to $0.0115 — this area offers a prime buying opportunity with minimum downside risk. Set limit orders in this range. Breakout Buy: If Velas breaks above $0.01194 (resistance), a momentum trade can be initiated, targeting the $0.0166 level. Stop Loss: $0.0108 — place a stop loss below this level, ensuring protection against any sudden downside moves while allowing enough room for price fluctuation during consolidation. Take Profit Targets: $0.014 (Short-term) $0.0166 (Medium-term) $0.017 and beyond (Long-term upside potential) Risk Management: Risk-to-reward ratio should be at least 1:3. Allocate no more than 2-3% of your total portfolio to each trade, maintaining a balanced exposure. Velas is Ready to Fly 🚀 With the technical patterns aligning and the return of key leadership, VELAS is poised for a bullish breakout. This presents a golden opportunity for both short-term traders and long-term investors. Don’t wait too long—once the breakout happens, the price could surge quickly! Start building your positions now before the hype takes this token to new heights is my advice :) Best regards, Blaž
CRYPTO:VLXUSDLong
by elfabiiani
WAGYUSWAP new MILLIONAIRES ON THE HORIZON (TA+trade plan)🚀 SOON NEW MILLIONAIRES ON THE HORIZON! 🚀 WAGYUSWAP is poised for a massive breakout with its Cup and Handle formation. This is one of the most powerful bullish signals in technical analysis, and we are on the verge of something HUGE. With momentum building, WAGYUSWAP has the potential to catapult into life-changing gains! Early investors have the chance to secure millionaire status as the breakout is IMMINENT. Don't miss out on this golden opportunity to ride the wave of a new crypto revolution. Time is ticking, and those who act fast could be the next crypto millionaires! The sky’s the limit! 🌕💸 WAGYUSWAP (WAGYUUSDT) Technical Analysis + trade plane by Blaž Fabjan Cup and Handle Formation The chart reveals a clear Cup and Handle pattern, a bullish continuation signal. The price action has developed a rounded bottom, suggesting a steady accumulation phase followed by a minor consolidation that forms the handle. This pattern indicates a strong probability of a breakout, targeting higher price levels. Key Support and Resistance Levels Support Level: The major support lies at $0.00007533, holding strong and representing a solid floor for any downward movements. Resistance Levels: The chart highlights critical resistance zones: $0.00010000 (psychological resistance) $0.00015000 (target resistance) The breakout from the handle, if confirmed, could propel WAGYUSWAP towards these resistance levels, marking a substantial bullish move. Indicators Overview VMC Cipher B: The current momentum shows divergences, indicating a strong possibility of upward movement. The positive momentum is gaining traction with increasing bullish pressure, reflecting a breakout potential. RSI (Relative Strength Index): The RSI is showing bullish strength, hovering around 51.87, and climbing towards the overbought territory. This upward movement suggests strong buying pressure and the possibility of a sustained rally. Stochastic RSI: Currently sitting at 96.67, the Stochastic RSI indicates an overbought condition. While this typically points to a potential retracement, it could also signify the start of a parabolic move during strong bullish trends. Trading Volume Volume Analysis: The chart indicates an uptick in trading volume during the formation of the cup, especially as the price approaches the breakout zone. A volume surge is expected as WAGYUSWAP breaks out of the handle. Trading Plan for WAGYUSWAP (WAGYUUSDT) Entry Point Aggressive Entry: Traders looking to capitalize early can enter at current levels near $0.00009750, expecting the breakout from the handle. This offers a favorable risk/reward ratio, provided stop losses are tight. Conservative Entry: For a safer approach, wait for a confirmed breakout above the $0.00010000 level, preferably accompanied by high volume to validate the move. Target Levels First Target: $0.00013000 – short-term profit target based on the depth of the cup formation. Second Target: $0.00015000 – medium-term target as the price surges past resistance levels. Stop-Loss Place a stop-loss just below the support level of $0.00007533. This keeps the risk controlled in case of an unexpected retracement. Risk Management Risk no more than 1-2% of your capital per trade, and adjust position sizes accordingly to account for volatility in the cryptocurrency market. WAGYUSWAP is poised for a massive breakout with its Cup and Handle formation. This is one of the most powerful bullish signals in technical analysis, and we are on the verge of something HUGE. With momentum building, WAGYUSWAP has the potential to catapult into life-changing gains! Early investors have the chance to secure millionaire status as the breakout is IMMINENT. Don't miss out on this golden opportunity to ride the wave of a new crypto revolution. Time is ticking, and those who act fast could be the next crypto millionaires! The sky’s the limit! 🌕💸
Long
by elfabiiani
Technical Analysis of Velas (VLX) 4-hour time frame Descending Channel: The price is currently moving within a descending channel, indicating a downtrend. However, the annotation suggests a potential bullish breakout if certain conditions (such as deploying a bridge with Solana) are met. Support and Resistance Levels: The chart shows several horizontal lines representing support and resistance levels: Resistance at approximately $0.011946, $0.009130, and $0.007360. Support at approximately $0.005267 and $0.003000. Indicators Used: Market Cipher B: Shows divergences and other momentum oscillators. RSI (Relative Strength Index): Currently around 23.79, indicating oversold conditions. Stochastic Oscillator: Indicates a possible reversal, with current readings suggesting a bottoming out. Annotated Points: A "Strong Buy Position" is indicated near the bottom of the descending channel, suggesting this as a potential entry point for a long position. A bullish movement is expected, provided there is a catalyst (like a bridge deployment with Solana). Trading Plan Intraday Trading Entry Point: Look for entry around the current support level of $0.005267, especially if there are bullish signals like a bullish divergence on Market Cipher B or a crossover on the Stochastic. Target Levels: Consider scaling out of positions near the immediate resistance at $0.007360. Stop Loss: Place a stop loss slightly below the support at $0.005267 to minimize risk. Additional Notes: Since RSI is oversold, any bounce could be sharp, so be ready to manage trades actively. Scalping Entry Point: Enter positions on short-term oversold conditions, especially when the Stochastic Oscillator crosses upwards in the lower range (20-25). Target Levels: Aim for quick profits, targeting 1-2% moves within the support-resistance range. Stop Loss: Tight stop loss to avoid getting caught in a larger downward move, around 0.5% below the entry price. Additional Notes: Monitor the price action closely around key support and resistance levels, and consider using a trailing stop to lock in profits as soon as the trade moves in your favor. Swing Trading Entry Point: Consider entering a position near the current support level or after a confirmed breakout above $0.007360. Target Levels: First target at $0.009130, the next significant resistance level. Second target around $0.011946 if momentum continues. Stop Loss: A stop loss slightly below $0.005267 or based on a confirmed breakdown of the descending channel. Holding Period: Expect to hold the position for several days to weeks, depending on how the market evolves and any news regarding partnerships or technological developments. Long Position Advice: Given the current oversold conditions on both RSI and the Stochastic Oscillator, there is a good probability of a short-term bounce. However, the broader trend remains down within the descending channel, so caution is warranted. Risk Management: Ensure you have clear stop losses and are ready to exit if the price falls below key support levels, as the descending channel indicates the possibility of continued downtrend until a breakout is confirmed. Catalyst to Watch: Keep an eye on any news or announcements regarding Velas, particularly related to the Solana bridge, as this could trigger the anticipated bullish move. Given the indicators and market structure, a cautiously optimistic approach seems prudent. If the price breaks out of the descending channel with volume, a more aggressive long position could be considered.
CRYPTO:VLXUSDLong
by elfabiiani
Technical Analysis and Trading Plan for Velas (VLX) Technical Analysis Velas (VLX) is currently in a descending channel. This pattern suggests a bearish trend in the short term, but there is potential for a bullish reversal if certain conditions are met. Descending Channel: The price is moving within a downward sloping channel, characterized by lower highs and lower lows. This pattern indicates ongoing selling pressure. Bullish Divergence: The VMC Cipher B indicator shows a series of bullish divergences, where the price is making lower lows, but the indicator is making higher lows. This often precedes a trend reversal. RSI and Stochastic Oscillator: Both the RSI and the Stochastic Oscillator are in oversold territory, suggesting that the selling pressure may be exhausted and a rebound could be imminent. Moreover, the Solana-Velas bridge is part of a broader initiative to improve cross-chain interoperability. This will allow assets to move freely between the two ecosystems, enhancing liquidity and usability across platforms​. Trading Plan for Spot Trading Given the technical indicators and recent news, here is a potential trading plan for Velas (VLX): Entry Point: Look for a breakout above the upper boundary of the descending channel with a confirmed bullish divergence. An ideal entry would be around $0.0098 - $0.0100, once the price shows signs of stabilization and reversal. Take Profit: Target the next significant resistance levels. A reasonable first target would be around $0.0120, with a secondary target at $0.0150 if the bullish momentum continues. Monitoring News Keep an eye on updates regarding the Solana-Velas bridge deployment. Positive developments or official announcements about the bridge going live could serve as strong catalysts for upward price movement. Regularly check news outlets and the official Velas and Solana channels for the latest information. By following this technical analysis and trading plan, you can strategically position yourself to capitalize on potential bullish movements in Velas while managing your risks effectively.
CRYPTO:VLXUSDLong
by elfabiiani
✴️ VLX, VELO, VRA All Green!Velas (VLXUSDT) came out of a descending channel and has been green for the past five days. It seems the KuCoin Altcoins are taking the lead. The good news is that the entire market move together. You can see how these Altcoins also produced a bullish wave in January. The fact that they are growing now tells us that the others will follow. Look at VELOUSDT, this one also growing and I will share VRA for you as well to see what the chart has to say. Namaste.
VLong
by AlanSantana
VLXUSDT Possible rebound to the 1D MA50Velas (VLXUSDT) has been trading within a Channel Down since the January 13 High. The 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line) have formed a Resistance Zone where the last 4 attempts to turn the chart bullish failed and the price got rejected to Lower Lows. Right now the price sits near the Lower Lows (bottom) trend-line and seems to be replicating the price action of January 2022. What followed was a rebound just above the 1D MA50 in early February. With the 1D MACD also on a Bullish Cross as on February 03, we expect a same reaction, with the 1D MA50 currently at 0.1554 but declining strongly. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
VLong
by TradingShot
3
VLXUSDT Almost +100% up since the crashVelas (VLXUSDT) broke above the 4H MA50 (blue trend-line) on Monday for the first time since May 05 and has establish the 4H price action above it since. This short-term pattern is a Channel Up and is already above +90% up from the May 12 low. The longer-term pattern is a Bearish Megaphone and every time the price broke above the 4H MA50, a rally started to the top of the pattern and at least the 1D MA100 (red trend-line). This time however that's above the Megaphone so a short-term target on the 4H MA200 (orange trend-line) sounds more realistic. But if the 4H MA50 fails to support, expect the resume of the long-term bearish trend towards the 0.0520 Low and quite possibly 0.0400. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
V
by TradingShot
2
VLXUSDT Bearish trend but look for potential reversal on the VI.The bearish trend prevailed on Velas (VLXUSDT) and on the short-term it is extending the selling pressure towards the April 27 Low. I have used the Fibonacci retracement and extension levels to give us a better perspective on how the targets may be more efficiently narrowed down. Our eyes this time are on the Vortex Indicator (VI) on the 1D time-frame, which after a failed Bullish Cross signal, it now turned sideways indicating potential high volatility and trend indecisiveness. As you see, this indicator has been higly efficient as since late October it provided ten signals which at least on the following 1D candle extended the trend. In order to limit the risk on this highly volatile short-term environment, it is best to wait for the next clear Cross (either bullish or bearish) on the 1D Vortex Indicator and trade to that direction, using the Fibonacci levels as targets. If you are a buyer and have a more macro-perspective, keep an eye on the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) for a confirmed long-term bullish trend. Overall we think Velas will offer great returns on the long-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
2
VLXUSDT Channel Down short-term.Velas (VLXUSDT) has been trading within a Channel Down on the 1H time-frame following the price rejection last Friday on the 1D MA100 (red trend-line). Even though the 1H RSI is oversold last time the indicator entered those levels, Velas dropped some more before eventually reversing (April 26 - 27). As a result, it is best to trade this set up based on the Fibonacci retracement levels. If the Channel breaks below, target the 0.786 Fib (0.13520) and in extension 0.12000. If the Channel breaks upwards, still wait for a confirmed break-out above the 0.382 Fib and target the 0.236 at 0.20900 and eventually the 0.24000 High. Our long-term outlook on Velas is unchanged and remains bullish. Great investor choice. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
VLXUSDT on +125%, strongest 3day rally of 2022. What's next?The Velas coin (VLXUSDT) completed yesterday a +125% 3-day streak, which is the strongest 3-day rally since the +258% of November 03 2021. By doing so, the price broke above the 1D MA50 (blue trend-line) but failed to close above it. This should be enough to put an end to this rally for at least 1-3 days but the true technical Resistance remains the 1D MA200 (orange trend-line), with Velas failing to close above since February 23. The long-term pattern remains a Channel Down since late 2021. Actually as long as the price trades below the 0.29000 Resistance formed of the April 06 High, the trend remains bearish. That is the Resistance of a potential Inverse Head and Shoulders (IH&S) pattern, that happens to be almost where the 1D MA200 is. This is a pattern technically seen during downtrends such as the current one, and typically forms bottoms and kick-starts bullish reversals. The last similar pattern failed to break above its Resistance on January 04, even though its was not during a downtrend. So you realize how critical the 0.29000 Resistance level is. Note that the RSI on the 1W time-frame has been trading and closing below its MA line (yellow) since November 30. A 1W closing above it, should be enough to restore the long-term bullish trend, especially if it coincides with a break above the 0.29000 Resistance. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
3
VLXUSDT 1D and 1W outlooks. 1D MA100 is the key.Velas (VLXUSDT) has been trading within a Channel Down since late January, as I mentioned on the most recent analysis. Right now the price is at the bottom of the Channel, potentially forming a Lower Low. The Lower Lows legs share similar 4H MACD structures and once the 4H MA100 (red trend-line) breaks, the short-term target should be within the 0.618 (0.2430) and 0.786 (0.2627) Fibonacci retracement levels. The chart on the right is on the 1W time-frame where we clear see the importance of the 1D MA100 (green trend-line). It was the long-term Support when Velas started rising on the August 30 2021 1W candle. The correction started when it broke downwards and it has been the Resistance since January 21 2022. When it breaks to the upside (which may coincide with the 1W RSI breaking above its MA (yellow line)), there are high chances to see it turn into the Support again for a new long-term rise. The last High of November 2021 stopped just below the 0.618 Fibonacci retracement level. Technically that should be the medium-term target when the next rally starts, with the long-term being the 0.786 Fib around $1.71. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
VLXUSDT Excellent short-term buy signalVelas (VLXUSDT) has been trading within a Channel Down on the 4H time-frame since the January 22 low. So far the pattern has made two Lower Highs and two Lower Lows, with the last contact with the bottom of the Channel two days ago, potentially being the third Lower Low. If the pattern continues to replicate the Lower Highs with near perfect symmetry, we can expect the next rise to top a little below the 0.786 Fibonacci retracement level, which is now at 0.2739. During the last bullish leg to a Lower High, the trigger was the break above the 4H MA100 (green trend-line). At the moment the 4H MA100 is a little below the 0.382, you may wait for tis confirmation but if you seek higher returns, buying now is also justified as the bottom of the Channel Down has been hit. Excellent short-term trade on Velas, a coin with equally excellent long-term potential. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
VLong
by TradingShot
VLX - Potential Bullish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. VLX is sitting around a strong demand zone in green so we will be looking for buy setups. on Daily: VLX formed a valid wedge pattern in blue but it is not ready to go yet. Trigger => Waiting for a momentum candle close above the last high in gray for the bulls to take over from a long-term perspective. Meanwhile, since VLX is sitting inside our demand zone, we will be looking for buy setups on lower timeframes. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
VLong
by TheSignalyst
12
VLXUSDT A weekly perspective. Long-term potential for $1.50.This is my first analysis of Velas (VLXUSDT) on the weekly (1W) time-frame. And the reason I do so, is to bring you a fresh perspective on how strong the long-term upside potential is on this token. ** The 1D MA50/200 and Fibinacci Channel ** First of all, even though the time-frame is 1W, I've plotted the 1D MA50 (yellow trend-line) and the 1D MA200 (red trend-line) in order to identify price shifts. Every time the 1D MA50 crosses above the 1D MA200, it forms the technically bullish Golden Cross pattern. In the previous two Cycles, the Golden Cross was formed when the price had already broken above the Lower Highs trend-line of the Cycle peak. On the current cycle, the price is still trading below the Lower Highs trend-line and with the 1D MA50 supporting, we are closer to a Golden Cross than ever and this time may take place below the Lower Highs for the first time. As you see, Velas' price action since it first started trading can be charted within a Channel Up. I've used a Fibonacci Channel to illustrate how high it can get on the next Cycle peak. This Cycle has made a Higher bottom relative to the others as it didn't reach as low as the 0.0 Fib level. As a result, there is a Diverging Higher Lows trend-line, which may in turn cause a Diverging Higher High. That aligns perfectly with a modest rise from bottom to peak of +1100% as in the first cycle. That would cause the price to get very close to the 1.5 Fibonacci extension and that is exactly why the Fibonacci Channel is used on this long-term analysis. ** The RSI and LMACD indicators ** The 1W RSI and LMACD indicators, offer an even greater insight in combination with the Fibonacci Channel and the Golden Cross. The RSI is currently above the RSI-based MA (black trend-line), having made a Cross in late March. In past cycles, every time this cross took place, the price candles broke above the 1D MA50 and never closed below it again before the parabolic rally started. Also, the LMACD is close to a Bullish Cross. The last Bullish Cross took place in late August 2021, and practically signaled the start of the Parabolic Rally and break above the Lower Highs trend-lin. ** Conclusion ** This unique 1W analysis definitely shows that VLXUSDT is close to a Parabolic Rally. Right now the price is a great opportunity on a long-term perspective and if the +1100% projection plays out again, then we can expect for VLX to reach a value around $1.50. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
VLong
by TradingShot
3
VLXUSDT Bull Flag approaching the 1D MA50.Velas (VLXUSDT) has formed a Bull Flag following the rally since the March 18 Low. This analysis is basically an extension of the one published last week, showcasing the importance of the Lower Highs trend-line of November 19 2021, and that as long as it doesn't break, the pull-back will seek the lower Support levels: So far this trend-line hasn't been broken, was on today's post it is important to look into more detail the Support levels involved and comparing them to the symmetrical bottom phase of July - August 2021. ** The 1D MA50 and the RSI ** The first natural Support level is the 1D MA50 (blue trend-line) that is currently at 0.22040. With the Ichimoku having turned green already, the price may bounce any time, but most likely, the market would want to see this level tested as a Support to gain confidence again and attract new buyers. The 1D RSI has been printing the very same sequence as in July - August and if symmetry holds, it should bounce off its 43.000 level. ** The Fibonacci levels ** As far as Fibonacci retracement levels are concerned, the July - August fractal made a first bounce on the 0.618 Fib and a second by breaking a 1D candle wick below it, but closing right back above before the day was over. The 0.618 Fib level on the current phase is roughly 0.1880. ** The Inverse Head and Shoulders ** As mentioned above, it is not necessary for the price to go as low as that level. And a big reason why, is the Inverse Head and Shoulders pattern (IH&S), which is a technical structure formed on market bottoms and leads to an instant trend reversal from bearish to bullish. This is what took place on the July - August fractal. With very symmetrical points, Velas rebounded very aggressively after completing the Right Shoulder of the pattern. On the current formation, the Right Shoulder's Support is around 0.2150. ** Conclusion ** It is not hard to realize that VLXUSDT is a solid buy opportunity on the current levels, despite the potential for slightly lower prices. The minor correction since the April 01 High, should be treated as the buy opportunity for those who missed the bottom last month and invest especially if you are a long-term crypto investor. The potential of this token once the Lower Highs trend-line of November breaks, is x10 return. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
VLong
by TradingShot
3