Vechain has been dancing between three different levels of resistance (Red, Yellow and Green) while consolidating .
Passing either threshold may cause movement in the direction of the corresponding arrow. Passing red is not favorable, yellow would be promising movement with a larger breakout occurring at green.
Passing either threshold may cause movement in the direction of the corresponding arrow. Passing red is not favorable, yellow would be promising movement with a larger breakout occurring at green.
We have two scenarios here to look for. A close above the EMA 20 would be very promising. A close below the red support line could lead to a drop, possibly a continuation of the longer term pattern in purple. Past examples of these two scenarios are highlighted in the colored boxes.