Hello Traders,
I recently hear a lot of FUD regarding on Vechain, and let's see what chart is telling us.
Looking at 4 hour chart, we see that there is potential head and shoulders pattern. However, it seems like Vechain is rejecting this pattern in past 12 hours. If we start to see strong bounce here, Vechain will solidify $0.01085 as a major support. There is a strong resistance around $0.01225 so I would cash out my profit when it hits that resistance zone.
Every blockchain project has flows and I found it interesting that Vechain was criticised heavily in past few weeks.
To me, I feel like someone is purposely driving the price down so they can accumulate more VET because there may be a potential big partnership coming up.
Happy trading!
I recently hear a lot of FUD regarding on Vechain, and let's see what chart is telling us.
Looking at 4 hour chart, we see that there is potential head and shoulders pattern. However, it seems like Vechain is rejecting this pattern in past 12 hours. If we start to see strong bounce here, Vechain will solidify $0.01085 as a major support. There is a strong resistance around $0.01225 so I would cash out my profit when it hits that resistance zone.
Every blockchain project has flows and I found it interesting that Vechain was criticised heavily in past few weeks.
To me, I feel like someone is purposely driving the price down so they can accumulate more VET because there may be a potential big partnership coming up.
Happy trading!