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Two Altcoins That Are Ready For Another Upward Move

2 mins
Updated by BeInCrypto Team
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In Brief

  • VET has broken out above yet another resistance area at 82 satoshis. The next resistance area is found at 102 satoshis.
  • The price is possibly trading inside an ascending wedge and the RSI has formed bearish divergence.
  • ZRX increased by 135% between May 7-10.
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The Vechain (VET) price is in the process of reclaiming yet another resistance area and moving towards 100 satoshis. ZRX has broken out from a short-term bullish pattern and is in the process of moving towards the closest resistance area.

VeChain (VET)

The VET price has been increasing since May 18. If the current candlestick closes bullish, which is all but confirmed, it would be the eighth successive bullish 3-day candlestick. In addition, volume has picked up considerably during this upward move, increasing the validity of the trend. At the time of writing, the price was trading right at the 82 satoshi resistance area. If it’s successful in reclaiming that as support, the next resistance area is found at 102 satoshis.
Vet Weekly Movement
VET Chart By Tradingview
Well-known trader @TradingTank agrees with this assessment, giving three targets between 93-110 satoshis and suggesting that the price will move towards them.
$VET Has no chill. Might just carry right on to the next targets. A bit of sideways consolidation here above resistance would set things up nicely.
Source: Twitter
However, the first signs of weakness are visible when looking at the six-hour chart. The price is possibly trading inside an ascending wedge, which is considered a bearish reversal pattern. However, while support is still holding, the slope of the resistance line has not yet been confirmed. However, there is considerable bearish divergence developing on the RSI. This allows for the possibility that the VET price will increase inside the confines of this wedge until it reaches the resistance area of 102 satoshis and then break down.
VET Ascending Wedge
VET Chart By Tradingview

0x (ZRX)

On May 7, ZRX began an upward move, and it reached a high of 5372 satoshis three days later. The price has been decreasing ever since. After retracing, the price found support above the 3350 satoshi support area and the 50-day MA, which previously made a bullish cross with the 200-day indicator. At the time of writing, it was in the process of creating a bullish engulfing candlestick on considerable volume. If the price continues rallying, the next closest resistance area would be found at 4600 satoshis.
ZRX Daily Breakout
ZRX Chart By Tradingview
The shorter-term chart reveals that the price broke out from a descending wedge after forming bullish divergence. This increases the legitimacy of the breakout and indicates that ZRX is likely to increase towards the previously mentioned 4600 satoshi resistance area.
ZRX Dexscending Wedge
ZRX Chart By Tradingview


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...