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.