VeChain vs Tether (VETUSDT) Chart Analysis by Request
Updated
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...
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.
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.
Note
Looking good... Same pattern remains valid.
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