VeChain vs Tether (VETUSDT) Chart Analysis by Request

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.