Vercoin has been going through an extended consolidation period, with a slite decline tendency. After reaching 96k satoshi high, the price was moving slowly towards 32k satoshi where it was stopped after rejecting the 8/1 Gann Fan trendline.
VTC/BTC formed a bullish divergence on the MACD, rejected the support trendline and broke above the descending channel. All these facts suggest that the uptrend could continue at any time with the first upside target being at the previous high - 96k satoshi. Although to stay on the safe side, perhaps it is better to wait for the break above the 46k satoshi resistance and the downtrend trendline. Only break and close below the 22k satoshi support could invalidate bullish outlook.
VTC/BTC formed a bullish divergence on the MACD, rejected the support trendline and broke above the descending channel. All these facts suggest that the uptrend could continue at any time with the first upside target being at the previous high - 96k satoshi. Although to stay on the safe side, perhaps it is better to wait for the break above the 46k satoshi resistance and the downtrend trendline. Only break and close below the 22k satoshi support could invalidate bullish outlook.
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