Vechain (VET) | This Dump Will Lead To A Big Pump

Vechain (VET) | This Dump Will Lead To A Big Pump

By moon333 | moon333 | 2 Oct 2020


Hey, friends hope you are well and welcome the new update on the Vechain coin. In this video you will watch how: 

On a long term weekly chart the priceline is retraced between 0.50 to 0.618 Fibonacci retracement. Before this correction, the price action of VET broke out the Ichimoku cloud with a powerful bullish rally. Now it is retesting the 25 SMA as well.

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On the daily time period chart, the priceline is moving in a falling wedge pattern Vechain. Recently price action is rejected by the resistance of wedge and moving down. The volume profile is showing the weak interest of traders at the support of the wedge pattern. The moon phases indicator is also showing a new full moon above the resistance. Therefore there are chances of a breakout after a correction.

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On the daily chart, the EMA 10 and 20 are in the bear cross. The stochastic and macd are weak bullish. When all three indicators will turn strong bullish then we can expect another rally to the upside.

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The pricline is likely to move down to re-rest support at $0.011. The next resistance levels are $ 0.015, $ 0.018, and $ 0.021 respectively.

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Conclusion:

The priceline is moving down after rejection by the resistance of the wedge. But before support of the wedge, we also have the strong support of $0.011. Therefore the priceline can retest this support and start the next rally for an attempt to break out from the resistance of the wedge.

 

 

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moon333
moon333

Hi, My name is Atif Akbar and I am trading charts author of all kind of assets


moon333
moon333

Hi my name is Atif Akbar and I am one of the top 3 authors of cryptocurrency trading charts as per tradingveiw I publish there with my username moon333 to verify you can visit: https://www.tradingview.com/markets/cryptocurrencies/ideas/ I also publish the charts of different other assets like forex, commodities, CFDs Stocks e.t.c. Here you will find perfect predictions on different trading assets.

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