VET USD 00.33$ SOON?
Updated
VeChain is currently trading at 0.1915 dollars. The MACD is used to identify the trend direction.
At the MACD (bottom chart), we see that we went all the way to the bottom and then reversed completely proving that we are still bullish for the short term.
By using the Fibonacci retracement, we can see that we currently have resistance at 0.1985 and support at 0.1835.
If I had to guess, we would stay going up and down until we are at the end of the triangle and then go to higher levels and maybe even a new ATH.
If we can go past the resistance of 0.26 our next Fibonacci resistance will be 0.328. I think this is definitely achievable. But this also works in the opposite direction, if we break the bottom triangle line, I would be bearish and we will probably go down.
I guess that we will go out of the consolidation from 03/05. But this is a guess. Everything can happen in crypto.
At the MACD (bottom chart), we see that we went all the way to the bottom and then reversed completely proving that we are still bullish for the short term.
By using the Fibonacci retracement, we can see that we currently have resistance at 0.1985 and support at 0.1835.
If I had to guess, we would stay going up and down until we are at the end of the triangle and then go to higher levels and maybe even a new ATH.
If we can go past the resistance of 0.26 our next Fibonacci resistance will be 0.328. I think this is definitely achievable. But this also works in the opposite direction, if we break the bottom triangle line, I would be bearish and we will probably go down.
I guess that we will go out of the consolidation from 03/05. But this is a guess. Everything can happen in crypto.
Note
Looking at the current chart, we can see that the chart is still following my analysis.The chart moved downwards and afterward, we went up again.
It is following the up and down movement as I said earlier (see: we would stay going up and down until we are at the end of the triangle).
We are staying between the swing high and the swing low so we are still consolidating before a rise.
Note
Still in a consolidation phase.
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