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Navigating VeChain’s Price Waves: A Cheeky Crypto Perspective


Cheeky Crypto Decodes VeChain’s Price Movement

Welcome to the world of VeChain, where Nick from Cheeky Crypto takes us on a journey to decipher the cryptocurrency’s recent price action and potential future trajectory. Buckle up as we delve into hourly, daily, and weekly charts, riding the waves of technical analysis with a touch of Cheeky Crypto flair.

Hourly Chart: A Dance with Bitcoin

On the 1-hour Binance chart, VeChain (VET) has been flirting with the 1.55-1.58 range, closely mirroring Bitcoin’s price movements. Like a tango, VET’s steps are guided by the rhythm of the broader cryptocurrency market.

Wave Analysis: Riding the Sea of Corrections

Delving into wave analysis, Nick highlights the completion of minimum expectations and the possibility of an imminent correction. A running flat or zigzag pattern could emerge, suggesting a pause in VET’s upward momentum.

Price Prediction: Brace for Correction, Anticipate Y Wave

A correction is anticipated, potentially bringing VET’s price down to the 1.53-1.57 range. This Y wave movement could provide an opportunity for savvy traders to accumulate more VET before the next upward swing.

Daily Chart: Z Wave’s Deeper Dive

Examining the daily chart, Nick predicts a deeper move within the Z wave, suggesting further downward pressure on VET’s price. Bearish indicators like the 50 EMA, 50 SMA, and 200 EMA reinforce this sentiment.

Upward Resistance and Weekly Bearish Patterns

While a potential upward move towards 2.29 is not out of the question, the odds seem stacked against it. The weekly chart paints a more bearish picture, with the possibility of breaking the 1-cent low looming on the horizon.

Long-Term Value: Fundamentals Amidst Price Turbulence

Despite the near-term bearish outlook, Nick reminds us of VeChain’s strong fundamentals. The project’s real-world use cases and partnerships could propel its value in the long run, despite the current price turbulence.

Cheeky Conclusion and Community Engagement

As Nick wraps up his analysis, he encourages viewers to like, subscribe, and join the Cheeky Crypto Discord community. Together, they’ll continue to navigate the ever-changing tides of the cryptocurrency market, with VeChain’s future firmly in their sights.

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