VECHAIN - VET/USD

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Type:	Cryptocurrencies
Ticker:	VETUSD
ISIN:

VECHAIN - VET/USD - Daily - Technical analysis published on 02/04/2020 (GMT)

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Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 0.005499 USD

My targets

0.007267 USD (+12.93%)

0.007749 USD (+20.42%)

My analysis

VECHAIN - VET/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 0.005499 USD. The next resistance located at 0.007267 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 0.007749 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

FORCE

8.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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 0.006435 USD. The price registered an increase of +2.98% on the session and was traded between 0.006166 USD and 0.006637 USD over the period. The price is currently at +4.36% from its lowest and -3.04% from its highest.

0.006166

0.006637

0.006435

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by VECHAIN - VET/USD:

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of VECHAIN - VET/USD in Daily shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

RSI indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

Resistance of triangle is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	0.004653	0.005499	0.006323	0.006435	0.007749
Change (%)	-27.69%	-14.55%	-1.74%	-	+20.42%
Change	-0.001782	-0.000936	-0.000112	-	+0.001314
Level	Intermediate	Intermediate	Intermediate	-	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	0.005820	0.005970	0.006109	0.006259	0.006398	0.006548	0.006687
Camarilla	0.006170	0.006196	0.006223	0.006249	0.006276	0.006302	0.006329
Woodie	0.005816	0.005967	0.006105	0.006256	0.006394	0.006545	0.006683
Fibonacci	0.005970	0.006080	0.006148	0.006259	0.006369	0.006437	0.006548

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.004727	0.005009	0.005509	0.005791	0.006291	0.006573	0.007073
Camarilla	0.005793	0.005865	0.005936	0.006008	0.006080	0.006151	0.006223
Woodie	0.004835	0.005064	0.005617	0.005846	0.006399	0.006628	0.007181
Fibonacci	0.005009	0.005308	0.005493	0.005791	0.006090	0.006275	0.006573

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.003509	0.004299	0.004993	0.005783	0.006477	0.007267	0.007961
Camarilla	0.005279	0.005415	0.005551	0.005687	0.005823	0.005959	0.006095
Woodie	0.003461	0.004275	0.004945	0.005759	0.006429	0.007243	0.007913
Fibonacci	0.004299	0.004866	0.005216	0.005783	0.006350	0.006700	0.007267

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):	63.04
MACD (12,26,9):	0.0001
Directional Movement:	12.754843
AROON (14):	35.714287
DEMA (21):	0.006073
Parabolic SAR (0,02-0,02-0,2):	0.005342
Elder Ray (13):	0.000397
Super Trend (3,10):	0.006543
Zig ZAG (10):	0.006487
VORTEX (21):	1.0664
Stochastique (14,3,5):	80.20
TEMA (21):	0.006192
Williams %R (14):	-11.15
Chande Momentum Oscillator (20):	0.000654
Repulse (5,40,3):	8.0670
ROCnROLL:	1
TRIX (15,9):	0.1863
Courbe Coppock:	5.09

MA7:	0.006020
MA20:	0.005927
MA50:	0.005655
MA100:	0.005762
MAexp7:	0.006130
MAexp20:	0.005927
MAexp50:	0.005799
MAexp100:	0.005625
Price / MA7:	+6.89%
Price / MA20:	+8.57%
Price / MA50:	+13.79%
Price / MA100:	+11.68%
Price / MAexp7:	+4.98%
Price / MAexp20:	+8.57%
Price / MAexp50:	+10.97%
Price / MAexp100:	+14.40%

This member declared not having a position on this financial instrument or a related financial instrument.

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