VET/USDT - Bullish W pattern approved
Hello traders and community, today we will tell ourselves shortly about the situation of VET/USDT
Trend analysis
- As you can see from the VET/USDT daily chart , the price of VeChain is going upward cause of double bottom formation (white line) and already tested resistance level (first red line), that's why we can expect bullish movement in the following days with 70 % probability. I recommend to put long positions (possible scenario on the chart), but only when you see correct signal for this movement. Today's resistance level is on 0,072683 price level, support level is on 0.059543 price level and global trend stays bullish. Wish you good luck with VeChain!
Chart pattern
- Double Bottom pattern (processing)
Technical indicators
- RSI: market is still in boarders and is located near 69 level (not overheated, Neutral signal)
- MACD: MAs are prepared for upward movement + they get away from each other (Bull signal)
- BB: Volatility of the market started increasing after range movement accomplished (Bull signal)
- MA (10,20): MA10 is higher than the level of MA20 and going upward (Bull signal)
= Overall bullish signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the VET/USDT daily chart , the price of VeChain is going upward cause of double bottom formation (white line) and already tested resistance level (first red line), that's why we can expect bullish movement in the following days with 70 % probability. I recommend to put long positions (possible scenario on the chart), but only when you see correct signal for this movement. Today's resistance level is on 0,072683 price level, support level is on 0.059543 price level and global trend stays bullish. Wish you good luck with VeChain!
Chart pattern
- Double Bottom pattern (processing)
Technical indicators
- RSI: market is still in boarders and is located near 69 level (not overheated, Neutral signal)
- MACD: MAs are prepared for upward movement + they get away from each other (Bull signal)
- BB: Volatility of the market started increasing after range movement accomplished (Bull signal)
- MA (10,20): MA10 is higher than the level of MA20 and going upward (Bull signal)
= Overall bullish signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
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