VET/USD - Potential Bullish Divergence
We have a potential Bullish Divergence with the Price on the VET Chart and the MACD Line on the Moving Average Convergence Divergence (MACD) indicator as indicated by the Converging Blue Lines. Note that the MACD RED Histograms have also shrunk in size, confirmation will be if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) on this 1 day timeframe.
Note that the Stochastic Indicator (STOCH) is showing that VET has plenty of room to move up before entering the Overbought Zone on this 1 day timeframe. Note that the %K (Blue Line) is still above the %D (Orange Line).
At the moment of typing this, VET is fighting stay above its Least Squares Moving Average (LSMA) on this 1d timeframe. A successful daily candle CLOSE above the LSMA on this 1 day timeframe will be considered a Buy Signal for this indicator.
At the moment VET is back above its Bollinger Bands Lower Band but note that VET is still well below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. For any recovery to become sustainable longterm, we need the Price to CLOSE above the BB Middle Band Basis with a successful re-test as support on this 1 day timeframe.
VET is also in a Falling Wedge Pattern on this 1 day timeframe. A Falling Wedge Pattern is a potential Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is at $0.026 which is around 22nd March 2022.
At the moment of typing this, VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 6x daily candles that i have selected.
Obviously VET is still under the influence of BTC so we have to keep an eye on what BTC is doing as a drop with BTC will drag all alts down with it.
I hope this is helpful with your Trading and Hodl-ing.
Note that the Stochastic Indicator (STOCH) is showing that VET has plenty of room to move up before entering the Overbought Zone on this 1 day timeframe. Note that the %K (Blue Line) is still above the %D (Orange Line).
At the moment of typing this, VET is fighting stay above its Least Squares Moving Average (LSMA) on this 1d timeframe. A successful daily candle CLOSE above the LSMA on this 1 day timeframe will be considered a Buy Signal for this indicator.
At the moment VET is back above its Bollinger Bands Lower Band but note that VET is still well below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 day timeframe. For any recovery to become sustainable longterm, we need the Price to CLOSE above the BB Middle Band Basis with a successful re-test as support on this 1 day timeframe.
VET is also in a Falling Wedge Pattern on this 1 day timeframe. A Falling Wedge Pattern is a potential Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is at $0.026 which is around 22nd March 2022.
At the moment of typing this, VET is back above its Volume Profile Fixed Range Point of Control (VPFR POC) for the fixed range of 6x daily candles that i have selected.
Obviously VET is still under the influence of BTC so we have to keep an eye on what BTC is doing as a drop with BTC will drag all alts down with it.
I hope this is helpful with your Trading and Hodl-ing.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.