THELOGICALINDIAN - VeChain VET is trading at acute overbought altitude advertence that a alteration is near
A acute attrition akin has alone VeChain’s uptrend. Now, VET seems abreast for added losses as several advertise signals pop up.
VeChain Flashes Multiple Sell Signals
VeChain acquaint massive assets throughout March, ascent by about 150%. The bread opened the account trading affair at a low of $0.04 and surged to a new aerial of about $0.10 on Mar. 22.
A beachcomber of profit-taking hit VET afterwards the peak, blame its bazaar amount bottomward by added than 23%. Although prices accept partially recovered, the twentieth-largest cryptocurrency by bazaar assets could be apprenticed for added losses.
VET has been independent aural an ascendance alongside approach back December 2024. Each time VET has risen to the channel’s high abuttals back then, a bounce occurs that pushes prices to the lower edge. From this point, it tends to rebound.
If this amount activity repeats, the contempo bounce from the attrition trendline ability be cogent abundant to advance VeChain appear the channel’s lower abuttals at $0.06 afore it bounces back.
The Tom DeMark (TD) Sequential indicator adds acceptance to the bleak outlook. This abstruse basis presented advertise signals in the anatomy of blooming nine candlesticks on both the account and 3-day charts.
The bearish formations anticipation that VeChain will amend for one to four candlesticks afore the uptrend resumes.
Despite the austere worst-case scenario, the cryptocurrency market’s alternation agency a bullish bazaar angle is not out of the question. Bull investors advance VeChain aloft the contempo aerial of about $0.10 to abstain incurring added losses.
Such an beforehand would acceptable accomplish FOMO amid bazaar participants as VET will be entering into amount analysis mode. Under such different circumstances, this cryptocurrency could beforehand appear $0.11 or alike $0.12.
Disclosure: At the time of writing, this columnist endemic Bitcoin and Ethereum.
