With a 700% increase in the past 3 weeks and a rebrand around the corner, VEN is showing no signs of slowing down.
Currently testing a major resistance with a , we are about to smash our way into new ATHs.
Look for trend reversals (where the break the dotted yellow line).
If it breaks the ascending support line (bottom yellow) it is time to sell. (rising do generally turn once the resistance and support meet each other ).
If we break the ascending resistance line, it will try and reach the next Fibonacci line.
VEN broke into top 100 market cap today, and I'm going to speculate here and say that the news and partnerships that VEN is securing is so strong it reach the top10 within the next 6 months.
I'm thinking we may see a retracement all the way down to 50ks as fib indicates and after that if 5 goes up the same degree 3 did, we may reach the 100k zone. What are your thoughts?
I understand how you came to this conclusion, but I honestly think the Fundamentals are so strong on this one that it may defy reason of a technical analysis.
I will be looking for a break in the channel to make a decision, as it has been respecting this channel for a while now.