Looking at this chart VTC is almost ready for a different direction.
The black line is the important one here. This is a massive support line, bounced of it the last dip and I expect it'll do it again.
Why?
1) MACD is making higher lows while the USD price makes lower lows. A new bull divergence will be very likely once VTC comes in the green buy zone.
2) RSI is almost at the bottom. Most likely BTC price will drop some more and VTC goes with it. But it is a waiting game if new divergences will be made once VTC reaches this area. On the 4H chart it is very likely this will happen.
First upwards movements will likely go towards 2$ (upper resistance line). It depends on BTC movements if VTC will break out.
In the bigger picture 5$ will be the next big resistance zone.
The only problem now the whole market is facing is volume.
So I do expect a estimated -15% drop for VTC and also for the other alts in USD.
The black line is the important one here. This is a massive support line, bounced of it the last dip and I expect it'll do it again.
Why?
1) MACD is making higher lows while the USD price makes lower lows. A new bull divergence will be very likely once VTC comes in the green buy zone.
2) RSI is almost at the bottom. Most likely BTC price will drop some more and VTC goes with it. But it is a waiting game if new divergences will be made once VTC reaches this area. On the 4H chart it is very likely this will happen.
First upwards movements will likely go towards 2$ (upper resistance line). It depends on BTC movements if VTC will break out.
In the bigger picture 5$ will be the next big resistance zone.
The only problem now the whole market is facing is volume.
So I do expect a estimated -15% drop for VTC and also for the other alts in USD.