Bullish VMA — 3 Tokens To Watch 🚨
The Volume Weighted Moving Average Trendline is one of my favorite technical indicators. The indicators create reliable entries, especially on higher timeframes, such as the 1D chart.
A bullish flip often indicates the start of a substantial upward move.
When scanning over 500 tokens, I found three that generated a bullish VMA flip today. Although you should never enter based on one indicator, it might be worth analyzing the tokens further.
1 — dogwifhat $WIF
WIF has been in a solid uptrend since mid-September. Actually, the VMA signaled the beginning of this trend perfectly. Due to the latest correction, WIF dropped to its support level at $2, where it bounced nicely (so far). At the same time, the VMA flipped bullish again.
I must admit that PHB hasn't been on my watchlist. However, the chart looks quite interesting and worth further analyzing. PHB broke out of a downtrend following a bullish VMA flip. Moreover, it did not correct heavily during the recent market correction. With the bullish VMA flip, there's probably more upside potential!
3 — district0x $DNT
DNT bounced off its support at 0.033 once again. While the VMA flipped bullish, it might be wise to wait to see if the token can break out of its downtrend. The current resistance in this context is ~0.38.
