Veritaseum (VERI): Is This a Genuine Breakout?
SUMMARY
On March 19th, I had posted the below chart of Veritaseum (VERI) with an $80 low target. The complex wxyxz correction was in full effect as the five subwaves of c of Z were pretty complete. Price was also quite proximal to the apex.
Currently, the below chart shows that the correction went to $84.45 and the breakout has occurred with a gap and a surge in price. As these vertical moves are not sustainable, price quickly has retreated into a minor correction. Would this decline further to generate a lower low or continue higher to put in additional waves of the impulse move up? The MACD red historgram has been putting in higher highs for quite some time and should be able to suport continued price rise, following this minor correction.
The microwaves show that the breakout occurred in five waves but wave 5 was extended. Look how the subsequent correction has declined to the prior wave 2 zone. I've labeled the correction as an ABC and it seems complete. Let's see if there can be a second round of impulse waves up.
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It should be occurred instead of occured.Thanks fixed.
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Superb info @haejin thanks for letting us know .
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97% of VERI tokens are being held in a single address :)
What a joke...
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