The chart shows the technical analysis of VeChain (VET) cryptocurrency against the USDT pair on Binance. Here are the details to help you understand what is being displayed.
1. Price and Variation
Current price: 0.04756 USDT.
Variation in 24 hours: -0.73%, indicating a slight drop in price.
Maximum price (24h): 0.05055 USDT.
Minimum price (24h): 0.04650 USDT.
2. Technical Indicators on the Chart
Moving Averages (MA):
MA(5): Average of the last 5 candles (5,646,138.3 VET).
MA(10): Average of the last 10 candles (4,756,351.6 VET).
These averages help identify short-term trends.
Bollinger Bands (BOLL):
The upper (UP), middle (MB) and lower (DN) bands indicate volatility.
The price is close to the lower band (0.04728), suggesting a possible reversal or oversold.
Parabolic SAR (yellow dots):
Indicates possible changes in price direction.
The dots above the candles suggest a downtrend.
RSI (Relative Strength Index):
RSI(6) = 18,69224.
Values below 30 indicate that the asset is oversold, which could be a reversal signal.
MACD:
Difference (DIF): -0.00021.
Signal line (DEA): -0.00004.
Negative MACD suggests that bearish momentum is present.
3. Volume
Volume in 24h (VET): 760.87 million.
24h Volume (USDT): 36.69 million.
Reduced volume may indicate less interest at the moment.
4. Actions
Buy/Sell: The options highlighted on the chart allow you to execute orders directly.
Alert: You can set up notifications for price movements.
General Summary
Currently, VET is in a support zone near 0.04650 and is considered oversold (very low RSI). This could indicate a buying opportunity if the price shows signs of reversal. However, the bearish trend is evident, reinforced by the MACD and SAR.
Let's dive deeper into the details of the chart and provide more information to help you interpret the data:
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1. Candles and Price Behavior
Each candle on the 15-minute chart represents the price movement during that period:
Blue candle: Indicates that the price has gone up (opening below closing).
Orange candle: Indicates that the price has fallen (opening above closing).
The current formation shows a series of bearish candles, which signals selling pressure.
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2. Bollinger Bands (BOLL)
Function: Shows volatility and possible areas of support or resistance.
Upper line (UP): 0.04968 — suggests resistance in the price.
Bottom Line (DN): 0.04738 — suggests support.
Middle Line (MB): 0.04849 — the price is below this line, which indicates short-term weakness.
As the price is close to the lower band, it may indicate that the asset is oversold and there may be a recovery, but low volume may limit this.
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3. RSI (Relative Strength Index) Indicator
Current value: 18.69.
An RSI below 30 indicates that the asset is oversold, which may attract buyers looking for a price recovery.
However, very low RSI could also mean that the downtrend is not over yet.
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4. MACD (Moving Average Convergence Divergence)
Difference (DIF): -0.00021 — line most sensitive to motion.
DEA: -0.00004 — slower and more stable line.
Negative MACD: Indicates bearish momentum (selling force prevailing).
The proximity between DIF and DEA suggests that the market is in an area of indecision or at the end of a downtrend.
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5.Parabolic SAR
This indicator is used to identify the beginning or end of a trend.
Dots above the candles: Confirm that the asset is in a downtrend.
To reverse, the price needs to rise significantly and reverse the position of the SAR.
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6. Volume
Decreasing Volume: The chart shows smaller volume bars, which suggests less buyer or seller participation. This may indicate that the market is waiting for external events or news.
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7. Support and Resistance (Price Analysis)
Closest support: 0.04650 (24h low).
Nearest resistance: 0.04849 (Bollinger average line) and 0.05055 (maximum of the last 24 hours).
If the support at 0.04650 is broken, the price may continue to fall until it finds new stronger support.
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8. Possible Strategies
For buyers (entrance):
Check if the price reacts to the lower Bollinger band (0.04738) or to the support of 0.04650.
Confirm reversal signals such as RSI rising above 30 and DIF crossing above DEA on MACD.
For sellers (outbound):
Use the resistance at 0.04849 (midline) as a reference for output.
If the downtrend continues, consider reducing positions.
