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Vetusdtlong

Vechain (VET) Has Broken Out The WedgeHey friends, hope you are well and welcome to the new update on VeChain Coin. On daily chart the priceline of VET coin was moving in a falling wedge. Finally the price action has broken out the resistance of this pattern. The volume profile is showing very low interest of the traders in the area where the priceline is moving therefore the price action can move more up in the area where the trader’s interest is strong. Once the exponential moving average 10 will cross up the EMA 21 then a further bullish momentum will be confirmed and move buying volume will be entered. On the long term weekly chart after a strong bullish move the priceline is retraced at 0.618 Fibonacci retracement level an likely to re-test the ichimoku bearish cloud as support. The conversion line is moving down to form bear cross with baseline but lagging span is again moving up therefore we can expect that soon the conversion line will be moved up that will be strong buying signal for the long term rally. On the daily chart different short and mid term support and resistance levels can be seen. The priceline is moving between $0.011 and $0.015 support and resistance level. At the moment candlesticks are trying to breakout $0.015 resistance. Once this resistance will be broken out then a move upto $0.018 resistance is expected very soon. Conclusion: As the price action of VET coin has broken out the resistance of wedge but the buying volume is not as that much powerful that can give us confirmation that it is not a fake-out. However, if we will see the weak buying volume with continuity and the EMA 10 will cross up the EMA 21 then we can have the confirmation of a firm breakout. And in case of this bull cross between these two EMAs 10 and 21 we can expect a rally upto $0.018 very soon and in case of breaking out this resistance the price action can move upto $0.021 powerful resistance.
Long
by moon333
2
VET in a critical level- possible buy zoneBlue dotted lines indicate Daily S/R levels and trends. After the bearish shock in the market, VET is at a critical level. In case, it holds the current level, I expect it to reach the next targets. Losing the current dotted blue line S/R downwards will indicate the start of a short-term bearish trend, followed by a bullish trend leading to our targets. Losing the one level indicated by the red arrow eliminates the target levels for now. Better to wait for the daily closing before making a move.
Long
by knnhsn
2
VET still solid. Be cautious VET still following bullish trend line from its breakout. Depending on where this 4hr closes could give us another leg up. Im currently holding long. If we don’t get another leg up I’ll be looking to add more around $0.019. The daily close below 786 Fib level could pose a difficult barrier short term. Overall I have a cautious view on the market as of recently. I’ll be holding crypto’s long but won’t be adding to any new positions until BTC fully breaks out from the 12k level. I think it’s more likely we have another breakout here but a dip is definitely possible for the entire market.
by MambaTrader24