As we can see, there are two trend lines that we could fall to - most likely, the higher trend will break and we will find ourselves at ~$300, which coincidently lines up nicely with the end of a pennant.
Lets watch and see how this plays out.
NB: Please trade at your own risk, this is for your education only and you should always do your own research/analysis...
VecChain has been forming what seems to be a huge pennant, similar to lots of strong alts on the market.
~15 days, it will reach the end.
With all the market FUD we have had over the past few months, VENBTC may struggle to break out of the pennant due to bitcoin's movement.
Either way, we are seeing a 12345 impulse towards the resistance - lets see how this...
At decision point on 50 MA, RSI nearly 'oversold'. Looking for a 12345 correction from the symmetrical triangle pattern.
Possible breakdown to previous trend line as shown, reaching the 261.8% FIB.
Look for confirmations on lower time frames.