VET About To Explode | 600% Gains Incoming | VET Analysis & Update | Crypto News Today
Get into this technical analysis here for v chain were going to kick things off with this weekly chart, guys where we always like to start and say everything really kicked off with this ball run back in march of 2020. This is basically when crypto had crashed down with, along with the stock market and obviously the pandemic from here. This actually kind of started the five impulse waves to the upside, the first one kind of peaking out around august, and i think a lot of people in the space can remember what was going on with v chain back then in terms of basically setting all time. High after all time high, we then went into the very first correction wave. This was wave two, this actually bottomed out towards the end of the year around november, and then that really kick started our third wave. This is where a lot of people in the space who came into v chain started to talk about it and started to think about the potential of this project. Obviously, this kind of peaked out top of way three here in april. Okay, so basically from march to april ‘9 days v chain here had gained 18 295, a very significant gain and uh. You know we havent stopped either. Since this third wave, we have gone down into this fourth wave correction again. This took a lot of people by surprise, specifically if they were buying at the top of wave three, for example, and they were being led into some kind of crazy kind of price prediction.
For v chain, ultimately, there was corrections coming back to their downside loads of people, calling it a bear market. It was just a fourth with correction and loads of people saying that selling and selling and selling, and obviously certain people were buying the fear right – and this here was the accumulation zone. This is a nice area to be buying up uh v chain. We wicked into here only a handful of times, so if youre patient enough to be buying v chain at the bottom here, youre getting a pretty good deal ahead of our fifth wave. Weve started to have a pretty good run so far and weve had this kind of correction in the middle, which is kind of uh needed. I guess nothing moves up in straight lines. You can take a look at our third wave. There are many corrections on the way to the upside okay. So, as we go up uh this fifth wave, we are expecting to see there to be kind of corrections on that journey before we go all the way to the top there. Now this is about another 600 on the current position to where we are heading um, so again, thats looking pretty tidy uh and again that we are looking to peak out of about one dollar one cent its going to be in that kind of range. We might just wick above it we might wake just below it and but its going to be around the four point.
Two three: six of the extension on the four point at uh yeah, the 4.236 of the fibonacci retracement tool, um. So, overall, yeah everythings, looking pretty good there. Now the stochastic rsi when were at the bottom of wave, one was oversold the bottom of wave, two oversold and, of course, the bottom of wave four oversold. Likewise, as we go up into our uh kind of big waves here, we obviously seen this thing rise all the way up into the overbought area. This actually happened halfway through wave one and were up into the other area for quite some time. Likewise, we take a look at where we got um into our overbought area with wavefree. It happened much much earlier just around about down. Here we actually were overbought, and then we rode this thing all the way up and during this third wave we actually were kind of had a couple of corrections in the middle that continued the growth to the upside. The main one is this one in the middle here, where i really were testing out our support at 3.4 cent and before actually going up and peeking up at the high point here which came in at 27.9, then obviously the bear the this this, the spare market. If you will – and this full fledged correction and did see us come all the way back down, and now we are back in the oval area where we are here so again, we can be sustained up in this overall area on this weekly chart.
For quite some time, um as we go up to that fifth wave peak right about a dollar um so on this weekly chart lots going on always important that we zoom out and we take a take stock of the bigger picture and where things are heading, what We dont want to do is get too focused in on a smaller time frame so that actually they might look more bearish on the shorter time frame and but actually the bigger time frame does show us in a very bullish state. As does this five impulse wave to the upside right with that being said, lets jump down into our daily, and here we can take a look at whats been going on most recently. Well just make this a little bit bigger, so we can expand our chart here. Um, so we can see that we have uh got an overbought now on our daily and again well, take a look at where we were during this first little leg here. This is overbought for quite some time quite a few days from the 23rd of july through to the 15th of august, okay, so almost a month of being overbought and we are just up in the overbought area now, after a correction or kind of sideways trade. In this little area, just here this little tiny correction – and this has basically now brought us down here – were back up into the overbought area on our stochastic.
So now we can enjoy potentially going up after this yellow box area here, which is the 6186 702 786 area of the fibonacci key areas for us getting a closed candle here, um above 21.5 is going to be a big ball signal, the main one that were Looking for, though, is 23.1 and getting the close candle above that 23.1, just up here is going to be absolutely vital for us. Okay, so were watching out for that on this journey to the upside. Now, in terms of where we are, we have found support on the 382. This is 13.9 and we have been working quite hard to get some pretty decent traction going so currently at the point of recording. This video v chain is now at 14.5 and uh. Despite what people say, it has been doing a fair amount uh. We take a look at it where it was down here in the 21st of july. If i grab hold of my price range from the 23rd of july, we can see that it had gone up. An additional 100 172 and so again for the rest of the bull run, talking about 600 im, not saying 600 instantly, im, not saying 600 in 24 hours or 48 hours or this week. But we are looking for an additional 600 percent by the end of the ballroom, and so we have moved 172 uh since the end of july. So again you know were tracking pretty nicely here for v chain: good recovery, um and uh.
If we can able to get into this 786 area here, this kind of 23.1 area then were going to be tracking some uh. Some new all time highs shortly. Uh, the first target for v chain would come in at 42 cent, then 64, 87 and then one dollar, okay and but obviously to get there. We have to battle through some of these key areas of resistance and turn them into support, so lots of work still to do, and but we are seeing some pretty good traction now when we jump down into our hourly view. Okay, this is where we start to see some of these trends that had been forming um, so the the most notable was this triangular wedge and this break to the upside. From that triangular wedge shots, we started forming uh. This uh was too steep, so we have to remove that now and what were looking for now is to see whats going on. Are there some more interesting trends appearing here? Anything notable well thats, pretty interesting. Let me just get that lined up a little bit better. I think its yeah its going to be about there. Let me just pull that in there we go, and so we can see that from here. This is a low of errand uh testing. This trend actually got quite a few touch points on here, and so we do have. An upward trend appeared there. Now the downward trend – thats, not very strong.
I think well need to see if this actually forms into some kind of triangular wedge like this or whether or not in fact, and we actually push this up to our resistance line here and what you end up with. Is this triangular wedge? If we consider you get this resistance, then we could see a break to the upside there. Okay, now on this audi chart, we are tracking quite nicely on the stochastic plenty of room still to grow before we start to see that momentum get taken out and a slight pullback on that. But overall everything here is looking pretty good. Weve got a good now. A good trend line to the upside here weve got the resistance being found at 15.2 cent, and again we are looking to basically hopefully continue this trend to the upside. Whilst we find that resistance, that would be a nice catalyst for another explosion like we saw over here, and this will allow us then to take the next step and get into the 618 area of the fibonacci retracement tool, which would be then, when most of the Work starts to happen here for vg, and so the charts are looking pretty good, but what about the artificial intelligence and machine learning over at ev? Well, we have an a2 rating here from the evidence i o dashboard and um v chain sphere in greed index is showing as an a1, which basically means its extremely greedy. Now this is usually when you know traders are taking profits when its extremely greedy and uh.
Normally theyre buying the fear, so when you start seeing extreme fear, this is where people are buying uh, at least the people in the know, and of course there are some. There is some fear that you do not buy when you go straight away into a bear market. You dont necessarily want to be buying that that kind of fear, but there are some strategies that well get into once – we have to bear market, actually gets here on how to make some money on the way down, like you did on the way up, um, but With a fear and greed index at the moment for for v chain its an a1 rating, so you have to be cautious that some people will be taking profit. So we will expect a little bit of volatility a little bit of sideways trading as we trade. Some key areas um and lower – that fear and greed index a little bit over time, again uh being um in this uh. I guess extremely greedy scenario. You can see that we were up here previously and a fair bit of profit was taken before pulling back down. Were up here again, we can be up here for a bit longer. We dont have to go straight away to the downside. We can be extremely greedy for a while, but its one of those things you want to keep in your mind that this is usually where people take profits and the ami had ratios.
So liquidity is not an issue either an a2 rating there for v chain. So looking pretty good and pretty tidy again got a little bit of a spike recently at the end there so again, not too bad and the sharp ratio and so again risk to reward ratio and basically were above the 50 day. Average a2 rating no problems to report theyre either looking pretty good and were getting some good traction on that. So looking as a pretty good, solid kind of uh hold at the moment, um and if we take a look at the moving averages, yep again: a2 profitability. A1, the best that they can be and again when you talk about moving 18 295, its really hard not to have an a1 profitability, and so overall yeah everythings. Looking pretty good here, um for uh v chain from the artificial intelligence machine learning perspective, an a2 rating and in line with our charts, are showing everything looking pretty tidy and pretty good um in terms of everything thats going on there. So my expectations guys will be trading sideways a bit longer, hopefully get this tighter into this triangular wedge by the 7th of september. Well know one way or another well: either have invalidated our upward trend, um or we would have had an explosion to the upside and we would have passed past our um, our resistance line and but guys, if we are ever in doubt, we make sure we zoom Out we take a look at that bigger picture, because this is where the the real kind of vision it comes to play and you can get a little bit lost inside those uh, those smaller time frames.
But here we have a good traction heading towards a dollar, and everything is is lining up quite nicely here for v chain. Definitely hasnt been a slow one and despite what people are saying, yes, its no dogecoin and then thats a good thing um. You know. Eighteen thousand two hundred and ninety five percent theres very few cryptocurrencies that have been performing just that well uh theres, a couple ive seen that we are invested in that have like 42, 000 or 30, something thousand um, but then youll see harmonys 18, 000 v chains. 18, 000 um just to name a couple, so youre definitely doing well guys. If you have found this a brief update on vechain useful and informative then hit the like button.