VeChain might bounce a bit but still bearish.
I am not a professional charter/trader, I am just doing this as an hobby and I am here to learn. I use the standard indicators to observe the current movements.
The way I see it is that VET is bouncing between the trendlines following the bearish movement of BTC. The RSI and Stoch are oversold and VET is moving at the lower end of the Bollinger Band while the Commodity Channel Index is rising.
All this indicates to me a short term bounce may come or at least some sideway movement. At this point I will just wait and see what the market does. If VeChain stays in this downtrend my target would be somewhere around 0,00360 tUSD (which is around 60 satoshi). I hope I am wrong and the sentiment changes but for now...good luck ;)!
The way I see it is that VET is bouncing between the trendlines following the bearish movement of BTC. The RSI and Stoch are oversold and VET is moving at the lower end of the Bollinger Band while the Commodity Channel Index is rising.
All this indicates to me a short term bounce may come or at least some sideway movement. At this point I will just wait and see what the market does. If VeChain stays in this downtrend my target would be somewhere around 0,00360 tUSD (which is around 60 satoshi). I hope I am wrong and the sentiment changes but for now...good luck ;)!
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