VTHO - what's going on the 4hr chartA quick look at the VeChainThor (VTHO) 4hr Chart:
VTHO is still above is 50EMA for this 4hr timeframe.
VTHO is still above its Bollinger Bands Middle Band Basis 20 Period SMA.
VTHO had shot up outside its Bollinger Bands Middle Upper Band but has now re-traced back below the Upper Band.
Overall Volume has increased and note that the last 6 Volume Bars have been above the Volume 20 Period Moving average on this 4hr timeframe.
At the moment VTHO is back above this charts Volume Profile Visible Range (VPVR) Point of Control (POC) for this charts visible range I’ve selected.
At the moment VTHO is above this charts Volume Profile Fixed Range (VPFR) Point of Control (POC) for this charts fixed range I’ve selected.
Ideally we need VTHO to close this 4hr candle above its 2nd resistance line.
The Moving Average Convergence Divergence (MACD) is indication a sharp rise in positive momentum and note that the MACD Line (Blue Line) is in the positive zone and back above its Signal Line (Orange Line). Note that this 4hr histogram bar has decreased in size and has gone lighter indicating a weakening of upwards momentum for this 4hr timeframe.
The Average Directional index (ADX DI) is showing Positive momentum has dropped but is still strong with the +DI (Green Line) at 43.23 and still above its -DI (Red Line) which has dropped to 5.74. The ADX (Yellow Line) is indicating a string trend at 35.56 and above its 9 Period EMA (White Line) which is at 26.77. We do not want the +DI (Green Line) to cross back under the -DI (Red Line) on this 4hr timeframe.
The Chaikin Money Flow (CMF) is showing that accumulation has dropped slightly to 0.09 but note that the CMF (Green Line) is still above its Least Squares Moving Average (LSMA) (Blue Line) which is at 0.03. We need the CMF to stay in the accumulation zone for renewed upwards momentum.
The Relative Strength Index (RSI) is indicating upwards momentum has dropped and the RSI (Purple Line) has dropped out of the Overbought Zone. Note that at the moment the RSI (Purple Line) has dropped back under its 9 Period EMA (Yellow Line) which is a sign of weakening upwards momentum. So we could see more of a drop before the price starts picking up, especially if BTC doesn't pick up.
I thought i’d break it up a bit and do a quick analysis of some of my other crypto holdings, in this case VTHO.
I hope this is helpful with your Trading and Hold-ing.
