VeChain - Daily Chart Update:
The Stochastic RSI is indicating that the %K (Blue Line) has popped back up from the oversold zone with the %D (Orange Line) still slightly in the oversold zone. The Stochastic RSI is indicating VET has plenty of room to move up before becoming overbought on this indicator. Note that the %K (Blue Line) is above the %D (Orange Line).
The ADX DI SMA is indicting the trend strength is very strong with the ADX (Yellow Line) at 62.7 but slightly below its 10 Period SMA (White Line) which is at 64.1. We’ll see renewed upwards strength once the ADX crosses back over the 10 Period SMA. The +DI (Green Line) is at 21.02 still above its -DI (Red Line) which is at 5.2.
VET is still above its Ichimoku Cloud Conversion Line (Tenkan Sen) and Base Line (Kijun Sen). The Conversion Line (Tenkan Sen) is indicating that the short-term momentum is sideways at the moment.
The Ichimoku Cloud Lagging Span (Chokou Span) is indicating momentum is sideways with a slope upwards.
VET is above its Bollinger Bands Middle Band Basis which is a 20 period SMA.
VET has found support from its 0.618 Lower Dark Green Pitchfork Support Line.
As you know VeChain is a two coin system with VET (Smart Money) and VTHO (Energy).
VeChain has about 2 1/2 days left on the vote for reducing the Gas Fees with VTHO. At the moment it looks like they will reduce the base gas price by 1% of the current gas price. Reducing the gas fees is a good thing as it will increase purchasing power & encourage clients to use VET & VTHO. People are screaming “lowering the gas will make VTHO drop” This is wrong, lowering the VTHO Gas Fees will not effect the market price of VTHO. VTHO has dropped but not because of the vote, it’s dropped because of traders panic selling because they don’t realise that lowering the gas fees will encourage more clients and partnerships for VeChain thereby increasing utility.
VeChain already has a real world, very strong client base that every other Crypto is now striving to achieve. I am still very bullish on VeChain and as i keep blabbering on about, i still believe VET is the most criminally undervalued crypto ever! Looking at some of the absolute crap crypto coins in the top 10, i have now doubt that both VET & VTHO will be in the top 10 in the very near future.
I hope this is helpful. 👍
The Stochastic RSI is indicating that the %K (Blue Line) has popped back up from the oversold zone with the %D (Orange Line) still slightly in the oversold zone. The Stochastic RSI is indicating VET has plenty of room to move up before becoming overbought on this indicator. Note that the %K (Blue Line) is above the %D (Orange Line).
The ADX DI SMA is indicting the trend strength is very strong with the ADX (Yellow Line) at 62.7 but slightly below its 10 Period SMA (White Line) which is at 64.1. We’ll see renewed upwards strength once the ADX crosses back over the 10 Period SMA. The +DI (Green Line) is at 21.02 still above its -DI (Red Line) which is at 5.2.
VET is still above its Ichimoku Cloud Conversion Line (Tenkan Sen) and Base Line (Kijun Sen). The Conversion Line (Tenkan Sen) is indicating that the short-term momentum is sideways at the moment.
The Ichimoku Cloud Lagging Span (Chokou Span) is indicating momentum is sideways with a slope upwards.
VET is above its Bollinger Bands Middle Band Basis which is a 20 period SMA.
VET has found support from its 0.618 Lower Dark Green Pitchfork Support Line.
As you know VeChain is a two coin system with VET (Smart Money) and VTHO (Energy).
VeChain has about 2 1/2 days left on the vote for reducing the Gas Fees with VTHO. At the moment it looks like they will reduce the base gas price by 1% of the current gas price. Reducing the gas fees is a good thing as it will increase purchasing power & encourage clients to use VET & VTHO. People are screaming “lowering the gas will make VTHO drop” This is wrong, lowering the VTHO Gas Fees will not effect the market price of VTHO. VTHO has dropped but not because of the vote, it’s dropped because of traders panic selling because they don’t realise that lowering the gas fees will encourage more clients and partnerships for VeChain thereby increasing utility.
VeChain already has a real world, very strong client base that every other Crypto is now striving to achieve. I am still very bullish on VeChain and as i keep blabbering on about, i still believe VET is the most criminally undervalued crypto ever! Looking at some of the absolute crap crypto coins in the top 10, i have now doubt that both VET & VTHO will be in the top 10 in the very near future.
I hope this is helpful. 👍