24 February, 2024

TD Sequential Flags Buy Signal, VeChain Eyes Bullish Reversal

1 month ago

22 Jan, 2024

  • Ali Charts predicts a bullish turnaround for VeChain based on TD Sequential signals and market trends.
  • VeChain’s price shows signs of reversal with indecisive market patterns and resistance to lower prices.
  • Current market data and fluctuating candlestick patterns on VeChain’s charts indicate the potential for a positive shift.

VeChain (VET) has recently caught traders’ attention in cryptocurrency trading due to its upward price trajectory. Ali Charts, a notable analyst in the crypto arena, has highlighted a potential upswing in VeChain’s price. This analysis stems from recent signals on the TD Sequential indicator. Consequently, the market could witness a notable bullish shift in VeChain’s trading pattern.

The 3-day chart by Ali reveals a downtrend, as a series of red candlesticks indicate. These red candlesticks denote closing prices lower than their opening. However, a green candlestick with a significant wick suggests market indecision. This indecision scenario often precedes a reversal. The green ‘9’ arrow, a TD Sequential hallmark, further bolsters this prediction. Hence, a bullish turnaround for VeChain might be on the horizon.

The daily price chart of VeChain, displayed through candlesticks, showcases the cryptocurrency’s fluctuating market activity. The chart reveals a mixture of long and short candlesticks, highlighting the variable degrees of daily price changes and market volatility. 

Notably, the wicks on these candlesticks point to intraday price reversals, marking significant shifts from daily highs and lows before closing. Consistent with the 3D chart, annotations like the ‘9’ and an upward arrow are seen, indicating the use of a specific trading indicator across multiple time frames. 

Besides, VeChain’s price at 0.027057401 presumably marks the final price on the most recent trading day at the time of the analysis. Current market data complements this technical analysis. VeChain’s price, as reported by CoinMarketCap, stands at approximately $0.027007. This value represents a 5.52% decline over the past 24 hours. Moreover, the charts’ high and low price points offer critical insights. They anchor the technical predictions to real-time market movements.

VeChain’s price trajectory, as suggested by the TD Sequential indicator, is leaning towards a bullish reversal. Both the 1-day and 3-day charts contribute to this narrative. Significantly, the analysis by Ali Charts adds weight to this forecast. As the market processes these signals, VeChain traders remain watchful for the anticipated upward trend.