VeChain - Longterm OutlookVeChain Longterm Outlook:
I thought i’d do this post slightly differently, more neater with less indicators on it so you can see how far VeChain has come and what a crucial time VeChain is nearing at.
VeChain is well above its 50EMA on the daily chart.
The Bollinger Bands are indicating volatility has increased with the Upper and Lower Bollinger Bands expanding away from each other.
VET is still above its Bollinger Bands Middle Band Basis which is a 20 Period SMA. VET is essentially walking the Upper Band upwards.
The ADX DI SMA is indicating the upwards trend strength is huge with the ADX (Yellow Line) at 75.8 above its 10 Period SMA (White Line) which is at 68.7. The +DI (Green Line) is at 35.8 which is hugely above its -DI (Red Line) which is only at 2.7.
If we look at the Chaikin Money Flow (CMF) we can clearly see VET is being accumulated with the CMF (Green Line) above the Accumulation/Distribution Line (Dashed Line) at in the Accumulation Zone at 0.13 at the moment.
I have added a Least Squares Moving Average (LSMA) on this daly chart to show that VET is very strong and shows no sign of crossing back under its LSMA anytime soon. FYI the price crossing back under the LSMA is a sell signal.
VeChain has found very strong support from its Lower Yellow Pitchfork Support Line.
There is no fear of VET crossing and clossing a daily candle below its Pitchfork Hagopian Line in the short to mid-term.
Very soon, VeChain will likely attempt a crossing back above its Pitchfork Median Line 🤯.
We can expect massive resistance at the Pitchfork Median Line, and there should be some pullback expected because of this resistance……… or maybe it’ll breeze through, such is the nature of cryptos.
Crossing and CLOSING a Daily Candle above this Pitchfork Median Line and turning that line into strong support will enable VET to set a new launchpad from which it can achieve its next challenge…….. crossing & closing a daily candle above $1.
As you can tell, I’m very excited about this prospect.
Just google VeChain and see just how much of a sleeping giant this crypto is. It has a real world partner & client base that would make any corporate jealous with envy. People have asked me, “why doesn’t VeChain promote & pimp themselves out like other crypto companies”?…… my answer is…. because they don’t need to.
As i stated before, VeChain should be in your longterm portfolio & is definitely one to watch.
I hope this is helpful with you trading and hodl-ing 👍🔥🚀🌍🌔🪐🛸👽
