VeChain Price Analysis: Swift Progress

2019-12-3 18:52

VeChain has a bullish short-term and medium-term trading outlook The four-hour time frame shows that a bullish breakout from a wedge pattern has taken place The daily time frame shows that a bearish head and shoulders pattern is still looming over the VET/USD pair

 

VeChain is outperforming the broader cryptocurrency market on Monday with strong double-digit gains, following bullish fundamental news over the weekend.

The VET/USD pair has gained over 20 percent since the start of December and is currently trading around 80 percent higher from its November opening price.

Technical analysis shows that the VET/USD pair performed a bullish wedge breakout on the daily time frame, moving the cryptocurrency within touching distance of the November monthly high.

The four-hour time frame shows that a breakout above the November monthly trading high could encourage further technical buying towards the $0.01 level.

The daily time frame shows that the VET/USD is trading well-above is 200-day moving average, although a large head and shoulders pattern is still weighing on the cryptocurrency.

Bulls need to rally VeChain toward the $0.012 level in order to invalidate the bearish pattern. If buyers can invalidate the bearish pattern, the VET/USD pair could stage a rally toward $0.02.

The Relative Strength Index on the daily time frame shows that VeChain is not yet overbought, despite the large double-digit advance in the cryptocurrency, while the MACD indicator is generating a strong buy signal.

According to the latest sentiment data from The TIE, VeChain’s short-term sentiment is neutral at 56 percent, while the overall long-term sentiment is bullish at 78 percent.

 

VET/USD H4 Chart by TradingView Upside Potential

The four-hour time frame shows that key technical resistance is now located at the $0.008 and $0.01 levels.

Key technical resistance over the medium-term is located at the $0.012 and $0.02 levels.

 

VET/USD Daily Chart by TradingView Downside Potential

The four-hour time frame is showing that the VET/USD pair has strong medium-term technical support around the $0.006300 and $0.005500 levels.

Critical long-term technical support for the VET/USD pair is located at the $0.0045 level.

Summary

VeChain has broken above a large wedge pattern on the four-hour time frame, putting the November monthly price high back in focus.

A sustained rally above $0.008 would be extremely bullish for the VET/USD pair and could spark a challenge toward the $0.012 level.

 

VeChain ChartChart byCryptoCompare baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; var cccTheme = { "General":{"borderWidth":"0px","borderColor":"#FFF","showExport":true}, "Tabs":{"borderColor":"#FFF","activeBorderColor":"rgba(28,113,255,0.85)"}, "Chart":{"fillColor":"#222","borderColor":"rgba(28,113,255,0.85)"}, "Conversion":{"lineHeight":"10px"}}; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=VET&tsyms=USD,EUR,CNY,GBP'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); #ccpw-ticker-24322 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24322 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24322 a.tabperiods.tabperiods_active, #ccpw-ticker-24322 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24322 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24322 .coin-container:after, .ccpw-container_four #ccpw-ticker-24322 .coin-container:after {border-color:#ccc !Important;}

 

The post VeChain Price Analysis: Swift Progress appeared first on Crypto Briefing.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

VeChain (VEN) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0408791
Капитализация $0 Rank 99999
Цена в час новости $ 0.1917 (-100%)

vechain shows time pattern frame bullish price

vechain shows → Результатов: 12


VeChain Price Analysis VET / USD: Reemerging

VeChain has a bullish short-term and medium-term trading outlook The four-hour time frame shows that an inverted head and shoulders pattern has been triggered The daily time frame is still showing a large head and shoulders pattern VeChain is surging higher, with the VET / USD pair adding over 20% to its trading value, following […] The post VeChain Price Analysis VET / USD: Reemerging appeared first on Crypto Briefing.

2019-11-16 20:44


VeChain Price Analysis VET / USD: Mediocre Recovery

VeChain is testing its 200-period moving on the four-hour time frame for the first time this month The VET / USD pair has so far failed to turn bullish over the short-term The daily time frame shows the formation of a potential double-bottom pattern VeChain is starting to attempt a short-term upside recovery after enduring […] The post VeChain Price Analysis VET / USD: Mediocre Recovery appeared first on Crypto Briefing.

2019-9-18 16:15


VeChain Price Analysis VET / USD: Rising Star

VeChain has a bullish short-term trading bias, with the cryptocurrency advancing to a fresh 2019 price high The four-hour time frame shows that a strong bullish breakout has occurred The daily time frame is showing that multiple bullish patterns have been triggered Fundamental Analysis VeChain has surged after the project announced the launch of the […] The post VeChain Price Analysis VET / USD: Rising Star appeared first on Crypto Briefing.

2019-6-25 16:16


Latest Deloitte Research Shows Warming Interest in Blockchain Among Corporate CEOs

Deloitte has already taken steps to become involved with blockchain. The company has ditched Ethereum, adopted VeChain, and is looking ahead at overtaking bitcoin transactions. Director and Consultant Cillian Leonwicz shared in LinkedIn about a week ago: “We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain […]

2019-5-8 20:45


VET / USD Price Analysis: Consolidation Period

VeChain has a bullish short-term bias, with the cryptocurrency continuing to trade above major technical support The four-hour time frame shows a bullish descending triangle breakout in progress The inverted head and shoulders pattern on the daily time frame has now reached its upside target VeChain / USD Short-term price analysis VeChain has a bullish […] The post VET / USD Price Analysis: Consolidation Period appeared first on Crypto Briefing.

2019-4-20 18:09