VECHAIN - VET/USD - 1H - Technical analysis published on 02/02/2022 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 0.054540 USD
My targets
0.057700 USD (+3.57%)
0.059092 USD (+6.07%)
My analysis
The bullish trend is currently very strong on VECHAIN - VET/USD. As long as the price remains above the support at 0.054540 USD, you could try to benefit from the boom. The first bullish objective is located at 0.057700 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.059092 USD as an objective. Crossing it would then enable buyers to target 0.081800 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
VECHAIN - VET/USD rating 0.055710 USD. On the day, this instrument gained +1.66% and was traded between 0.053837 USD and 0.056576 USD over the period. The price is currently at +3.48% from its lowest and -1.53% from its highest.0.053837
0.056576
0.055710
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of VECHAIN - VET/USD in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
White gravestone / inverted hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 0.050492 | 0.052117 | 0.054540 | 0.055710 | 0.055824 | 0.057700 | 0.059092 |
Change (%) | -9.37% | -6.45% | -2.10% | - | +0.20% | +3.57% | +6.07% |
Change | -0.005218 | -0.003593 | -0.001170 | - | +0.000114 | +0.001990 | +0.003382 |
Level | Major | Minor | Minor | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.050751 | 0.051950 | 0.053375 | 0.054574 | 0.055999 | 0.057198 | 0.058623 |
Camarilla | 0.054078 | 0.054319 | 0.054560 | 0.054800 | 0.055041 | 0.055281 | 0.055522 |
Woodie | 0.050864 | 0.052007 | 0.053488 | 0.054631 | 0.056112 | 0.057255 | 0.058736 |
Fibonacci | 0.051950 | 0.052952 | 0.053572 | 0.054574 | 0.055576 | 0.056196 | 0.057198 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 0.030211 | 0.036968 | 0.045579 | 0.052336 | 0.060947 | 0.067704 | 0.076315 |
Camarilla | 0.049965 | 0.051374 | 0.052782 | 0.054191 | 0.055600 | 0.057009 | 0.058417 |
Woodie | 0.031139 | 0.037432 | 0.046507 | 0.052800 | 0.061875 | 0.068168 | 0.077243 |
Fibonacci | 0.036968 | 0.042838 | 0.046465 | 0.052336 | 0.058206 | 0.061833 | 0.067704 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | -0.019007 | 0.012359 | 0.032960 | 0.064326 | 0.084927 | 0.116293 | 0.136894 |
Camarilla | 0.039271 | 0.044035 | 0.048798 | 0.053562 | 0.058326 | 0.063089 | 0.067853 |
Woodie | -0.024389 | 0.009668 | 0.027579 | 0.061635 | 0.079546 | 0.113602 | 0.131513 |
Fibonacci | 0.012359 | 0.032210 | 0.044474 | 0.064326 | 0.084177 | 0.096441 | 0.116293 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 62.68 | |
MACD (12,26,9): | 0.0005 | |
Directional Movement: | 13.703780 | |
AROON (14): | 35.714286 | |
DEMA (21): | 0.055645 | |
Parabolic SAR (0,02-0,02-0,2): | 0.053977 | |
Elder Ray (13): | 0.000666 | |
Super Trend (3,10): | 0.053346 | |
Zig ZAG (10): | 0.056272 | |
VORTEX (21): | 1.0502 | |
Stochastique (14,3,5): | 90.94 | |
TEMA (21): | 0.055797 | |
Williams %R (14): | -18.49 | |
Chande Momentum Oscillator (20): | 0.001537 | |
Repulse (5,40,3): | 1.7208 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0793 | |
Courbe Coppock: | 3.72 |
MA7: | 0.053956 | |
MA20: | 0.061167 | |
MA50: | 0.074900 | |
MA100: | 0.101264 | |
MAexp7: | 0.055705 | |
MAexp20: | 0.055045 | |
MAexp50: | 0.054414 | |
MAexp100: | 0.053924 | |
Price / MA7: | +3.25% | |
Price / MA20: | -8.92% | |
Price / MA50: | -25.62% | |
Price / MA100: | -44.99% | |
Price / MAexp7: | +0.01% | |
Price / MAexp20: | +1.21% | |
Price / MAexp50: | +2.38% | |
Price / MAexp100: | +3.31% |
Quotes :
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Real time data
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Cryptocompare
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About author
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