VeChain (VETBTC) Chart Analysis by Alan Masters
Let's start by taking a closer look at the VeChain chart:
- First we can see the new All-Time Low on Binance was hit on the 8th of August. There is no strong bounce nor a big increase in when this low was hit, so VET might go lower.
- We can see VETBTC trading within a , which is marked with a purple dashed line. Here I draw the most likely path in red. Trading below EMA10 ( potential).
- The hit oversold and is trading on the mid-thirties, looking weak.
- We have plenty of signals while many altcoins are starting to show charts... VETBTC might need more time before it starts to turn.
- The and are showing .
So we have mostly signals coming out of this chart, so we can expect for VETBTC to move lower.
Conditions for change: If VETBTC can move up and close above 48 satoshis with good strength and , the above signals become invalid and a new analysis is needed.
Thanks a lot for reading.
THIS IS NOT FINANCIAL ADVICE.
1) 47 |Hit 28-Oct. (+12%)
2) 50 |Hit 28-Oct. (+19%)
3) 55 |Hit 6-Nov. (+31%)
4) 60 |Hit 7-Nov. (+43%)
5) 66 |Hit 11-Nov. (+57%)
6) 71 |Hit 11-Nov. (+69%)
7) 76 |Hit 12-Nov. (+81%)
8) 92 |Hit 16-Nov. (+119%)
9) 102 |Hit 2-Dec. (+143%)
*) 110 |Hit 2-Dec. (+162%)