The four-hour chart shows that the VeChain price has been moving sideways recently. Along the way, the coin has formed an inverted head and shoulders pattern. The price is also consolidating at the 25-day and 50-day moving averages. It is also at the right shoulder.
Therefore, while it is too early to tell, the price will likely break out higher in the near term. This bullish view will be invalidated if the price manages to move above the neckline at around $0.1300.
On the flip side, a drop below the support at $0.1100 will invalidate the bullish view.
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