AlanSantana

VeChain vs Tether (VETUSDT) Chart Analysis by Request

Long
AlanSantana Premium Updated   
BINANCE:VETUSDT   VeChain / TetherUS
The chart for VeChain vs Tether ( VETUSDT ), looks like the Bitcoin ( BTCUSD ) chart a few weeks back.

Right now we are looking at a bullish ascending triangle with many other bullish signals in place. Let's take a look...

  • We can see VETBTC trading above EMA200 ( orange line / 0.007404), a strong resistance which rejected VETBTC before but now has been conquered.
  • Significant increase in volume . The break above this resistance is backed up by above-average volume , this is a good indication that this break is valid.
  • The MACD is on the bullish zone and trending up.
  • The RSI is strong on the bullish side.
  • VETBTC is easily trading above EMA10, 50, 100, and MA200. A strong impulse move can happen anytime while trying above these levels.

Conditions for change: If VETBTC moves down and closes below MA200 (0.005384), then the above signals become invalid. A new analysis is needed.

I hope you enjoyed this analysis.

Thanks a lot for reading.

Namaste.
Comment:
Looking good... Same pattern remains valid.

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