VECHAIN Bullish Break
Updated
Daily chart:
Vechain break out of resistance at 61 satoshi. A close above the top bollinger band at 61 satoshi is a good sign and will also be a good pivot moving forward. As long as we are closing outside the top bollinger band its bullish. The moment we close inside and below the top bollinger band that will be a warning sign for a pullback.
RSI is getting into the overbought territory so a pullback here would make sense but ONLY IF A LOCAL TOP IS PRINTED. So far there its not there yet. Daily closing aboe 64 satoshi which also happens to be the 200SMA will be really good.
Monthly Chart:
A close above the 21EMA at 57 satoshi will be the first time in 3 months after we lost it back in Feb 2020. An open and close above 21EMA on a weekly basis will be bullish.
RSI is out of the bear zone and now in an upward trajectory at neutral zone ( 52 ) read. Any price action below the neutral zone ( 50 ) will be a warning sign for bears getting control back.
Stochastic is also bullish crossed but its needs to get out of the bear zone ( 45 ) and above.
Over-all VECHAIN is showing recovery with PIVOTS between 57 - 61 satoshi. Any close below there on a daily or weekly is a bad sign.
Vechain break out of resistance at 61 satoshi. A close above the top bollinger band at 61 satoshi is a good sign and will also be a good pivot moving forward. As long as we are closing outside the top bollinger band its bullish. The moment we close inside and below the top bollinger band that will be a warning sign for a pullback.
RSI is getting into the overbought territory so a pullback here would make sense but ONLY IF A LOCAL TOP IS PRINTED. So far there its not there yet. Daily closing aboe 64 satoshi which also happens to be the 200SMA will be really good.
Monthly Chart:
A close above the 21EMA at 57 satoshi will be the first time in 3 months after we lost it back in Feb 2020. An open and close above 21EMA on a weekly basis will be bullish.
RSI is out of the bear zone and now in an upward trajectory at neutral zone ( 52 ) read. Any price action below the neutral zone ( 50 ) will be a warning sign for bears getting control back.
Stochastic is also bullish crossed but its needs to get out of the bear zone ( 45 ) and above.
Over-all VECHAIN is showing recovery with PIVOTS between 57 - 61 satoshi. Any close below there on a daily or weekly is a bad sign.
Note
Next resistance target between 72 -74 satoshi.Note
TARGET REACHED.Note
NEXT TARGET: 96 -98 satoshi.Note
TARGET REACHED, next target 105 satoshi.
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