After creating a big bearish move from the recent highs, Vertcoin has spent last month in the consolidation zone. Meanwhile, the coin has developed a bearish pennant formation. Pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. If the consolidation of the price movement takes place in the form of the channel then we have a bearish flag. However, in this case, the consolidation took place in the form of a mini triangle, thus bearish pennant is formed. This formation is traded once the price breaks out of the triangle in the direction of the initial move. As we have already moved outside of the pennant, then came back to re-test the bottom of the pennant in the form of a resistance, the price is again leaving the pennant in a move that represents the confirmation of the bearish pennant formation. Although the bear pennant formation points much lower to the new lows, the first big test for the bears is the zone between 0.0000915 - 0.0000860, which is a confluence of 127.2% Fibonacci extension and horizontal support line. This zone should be a great opportunity for bears to take some profits off the table and for those looking to enter a long trade.