VeChain Update:
At the moment of typing this, VET is fighting to stay above its Ichimoku Cloud Conversion Line (Tenkan Sen).
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is still sideways. Remember that sideways ranging is done within a range and not at a constant level.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating Mid-term momentum is sideways.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is slightly downwards. Note that the indicator tip is still above the price from 30 periods ago.
VET is below its Bollinger Bands Middle Band Basis which is a 20 Period EMA.
Note that even though we have this drop, the Bollinger Bands Upper and Lower Bands are still moving sideways. If Volatility was on the negative side, we would see the Lower Band expand downwards. This is a good thing 👍
VET is still above its 50EMA on this daily chart.
The Chaikin Money Flow (CMF) is indicating VET is still in the Accumulation Zone of the indicator at 0.07.
The ADX DI is indicating the trend strength has dropped with the ADX (Yellow Line) at 20.2 below its 9 Period EMA (White Line) which is at 25.6. The +DI (Green Line) is at 16.6 still above its -DI (Red Line) which is at 16.2. Hopefully VET can close the ADX indicator above the 20 Threshold (White Dashed Line).
Volume is still relatively low.
So my thoughts are that this is a sell-off in conjunction with everything else like the DOW dropping today, as you can see from the Bollinger Bands, there is no increase in negative volatility at the moment and the Bollinger Bands are ranging sideways. Once all the markets calm down, VET should soon be back over $0.2, and we may see some continued sideways ranging before the next big breakout. 👍
I hope this is helpful with your Trading and Hodl-ing 👍🔥🚀🌍🌔🪐🛸👽
At the moment of typing this, VET is fighting to stay above its Ichimoku Cloud Conversion Line (Tenkan Sen).
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is still sideways. Remember that sideways ranging is done within a range and not at a constant level.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating Mid-term momentum is sideways.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is slightly downwards. Note that the indicator tip is still above the price from 30 periods ago.
VET is below its Bollinger Bands Middle Band Basis which is a 20 Period EMA.
Note that even though we have this drop, the Bollinger Bands Upper and Lower Bands are still moving sideways. If Volatility was on the negative side, we would see the Lower Band expand downwards. This is a good thing 👍
VET is still above its 50EMA on this daily chart.
The Chaikin Money Flow (CMF) is indicating VET is still in the Accumulation Zone of the indicator at 0.07.
The ADX DI is indicating the trend strength has dropped with the ADX (Yellow Line) at 20.2 below its 9 Period EMA (White Line) which is at 25.6. The +DI (Green Line) is at 16.6 still above its -DI (Red Line) which is at 16.2. Hopefully VET can close the ADX indicator above the 20 Threshold (White Dashed Line).
Volume is still relatively low.
So my thoughts are that this is a sell-off in conjunction with everything else like the DOW dropping today, as you can see from the Bollinger Bands, there is no increase in negative volatility at the moment and the Bollinger Bands are ranging sideways. Once all the markets calm down, VET should soon be back over $0.2, and we may see some continued sideways ranging before the next big breakout. 👍
I hope this is helpful with your Trading and Hodl-ing 👍🔥🚀🌍🌔🪐🛸👽
Commentaire:
Here is a look at the ADX on this daily chart 👍
