Fetch.ai, Vechain And Matic Signal Weakness!

FETCH.AI ANALYSIS: SEPTEMBER, 2021

Market Structure:

Fetch.ai is building an open access, tokenized, decentralized and smart network for a digital future. Here’s the market structure of Fetch.ai.

Fetch.ai is trading at $0.8226. The market structure of Fetch.ai is bearish until the coin closes above $0.8858. The trend is bearish as the coin broke a major structure point on the downside during the recent fall. Fetch.ai made a swing low of $0.5800, thus breaking the structure point at $0.6600. However, Fetch.ai made a smart recovery of 35% in two days but with low volumes. The coin is expected to make a lower-high and continue its downtrend.

On the hourly chart, the coin has faced rejection from a crucial resistance or a supply zone. The coin is unable to break $0.8702 as the sellers are present there. As mentioned, the coin needs to close above the upper end of the supply zone in order to witness a reversal in trend.

Fetch.ai analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price strength for the coin in the short-term. The hourly RSI is above the neutral region. It stands at 57.35 and has the potential to go higher.

The MACD is below the signal line, confirming the rejection faced at the supply zone.

Fetch.ai analysis
Source: tradingview

Conclusion:

On the breakout and close above $0.8875, $0.9132 and $0.9285 are the targets on the upside.

On the breakdown and close below $0.8100, $0.8 and $0.7850 are the targets on the downside.

VECHAIN ANALYSIS: SEPTEMBER, 2021

Market Structure:

Vechain is a cryptocurrency and smart contracts platform used to execute DeFi protocols. Here’s the market structure of Vechain.

Vechain is trading at $0.09855. The market structure of Vechain looks bearish as the coin fell nearly 45% from its swing-high in August end. The coin has shown some retracement as per the Fibonacci levels but it is merely a formation of lower-low. This formation characterizes the essence of a bearish trend. The coin must sustain above $0.097 in order to witness further upside, although limited. As per Fibonacci retracement, there is still room for a 10% surge.

On the hourly chart, the coin is consolidating between $0.09752 and $0.103. This consolidation may mark the ongoing accumulation or distribution phase. If the coin breaks the upper trend, then the aforementioned upside can be witnessed. However, if the lower end is broken, the bearish trend of the coin will prevail.

Fetch.ai analysis Vechain
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin. The hourly RSI is below the neutral region. It stands at 48.52 and has the potential to move in either direction.

The MACD is below the signal line, hinting at a possible breakdown of the demand zone.

Vechain analysis
Source: tradingview

Conclusion:

On the breakout and close above $0.103, $0.105 and $0.110 are the targets on the upside.

On the breakdown and close below $0.097, $0.095 and $0.092 are the targets on the downside.

MATIC ANALYSIS: SEPTEMBER, 2021

Market Structure:

Matic is an Ethereum-based token which powers and governs the Polygon blockchain network. Here’s the market structure of Matic.

Matic is trading at $1.190. The market structure of Matic is clearly bearish as the coin has made lower-highs and lower-lows on the daily time frame. It has topped out at $1.245 and will continue its downward trajectory from here on out. The coin reversed from exactly the 50% retracement Fibonacci level. A bearish outlook prevails until the coin closes above the previous swing high of $1.245.

On the hourly chart, the coin has faced rejections from the aforementioned supply zone. Now, the coin will continue its bearish trend in the form of lower-highs and lower-lows. Moreover, the falling bullish volumes and the resistance provided by the falling 20-day exponential moving average will compel a downward movement for Matic.

Matic analysis
Source: tradingview

Market Indicators:

The Relative Strength Index is indicating mild price weakness for the coin in the short-term. The hourly RSI is below the neutral region. It stands at 46.91 and has the potential to go lower.

The MACD is below the signal line due to the broader bearish trend in Matic’s market.

Matic analysis
Source: tradingview

Conclusion:

On the breakout and close above $1.245, $1.26 and $1.30 are the targets on the upside.

On the breakdown and close below $1.175, $1.145 and $1.100 are the targets on the downside.

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