Vechain value remained caught in a no-trade zone as momentum continues to construct for a 25% breakout
- Vechain price is contained in an ascending triangle pattern on the 12-hour chart.
- The pattern continues to contract closer to a breakout or breakdown.
After hitting a high of $ 0.0188 on Nov. 25, Vechain was stuck trading sideways and consolidating. Despite the recent uptick in the cryptocurrency market, Vechain price is still waiting for a significant breakout or collapse.
Vechain price is facing a massive 25% move
Vechain price is currently trading at $ 0.0169 within an ascending triangle on the 12-hour chart. The digital asset is right in the middle of the pattern and needs to hold the 50 SMA for the cops to be in control.
12-hour Vocational Education / USD chart
A rebound from the 50 SMA at $ 0.0162 may push Vechain price slightly towards the upper trendline of the pattern at $ 0.018. Another breakout above this point would eventually propel the digital asset towards a high of $ 0.0225, a 25% move.
Failure to hold on to the 50 SMA would be a clear bearish sign, however, and would likely push Vechain towards the lower bound of the pattern at $ 0.0157. A breakdown below this point will force the digital asset to hit a low of $ 0.012.
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