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VECHAIN – ALTCOIN CHART ANALYSIS

 


VeChain has corrected significantly lower after its explosive breakout last week. This was foreseeable, since such strong pumps like to be filled again. This has now happened.

We are currently trading at around USD 0.06, which is a little higher than last time. Here, too, the pump from March 26, 2022 was completely filled and support was thus formed. This is crucial for a further increase.

For now, the 4H-EMA ribbons, the 200-SMA (last 200 moving averages/purple) and the 200-EMA are still above us as resistance. We have to break through this to the top and, if necessary, confirm it in order to get back into an uptrend.

On the daily chart we can see that we have seen a perfect bounce in our support box here. If this breaks, prices around USD 0.055 are very likely.

The EMA ribbons are still bullish on the Daily and are therefore green. However, we are currently trading below these. For another move up, it is extremely important that we have them back under us as support. 

The trading volume continues to decrease significantly. A smaller setback is possible again, but this should not break through our green support box. Otherwise, VeChain makes a bullish impression for the near future.

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