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THETA, LITECOIN AND VECHAIN - ALTCOIN CHART ANALYSIS



Due to the large number of requests, this time we take a closer look at Theta, Litecoin and VeChain. Are we possibly seeing signs of recovery here? Or do we expect lower prices  in the near future ?

Theta is in a huge descending triangle that goes back to the end of March 2021. We haven't seen a new all-time high since then or have been repeatedly rejected at the blue resistance line.

We recently tested our large red support zone and saw a clear upward bounce. In the meantime this momentum has been reduced and we are at around 4.38 USD.

The 4H-EMA ribbons continue to represent a strong resistance. The monthly support S1 still gives us a little hold, but should this break sustainably, we could go into the support zone again to approx. 2.50 - 3.00 USD.

Litecoin is also in a clearly visible downtrend channel, which is additionally strengthened by the 4H-EMA ribbons and has not yet been exited. We are currently trading at around USD 153.00.

The red support zone, which offers support up to approx. 140.00 USD, has already been tested several times. Should we break through this confirmed and thus also the downtrend, the next support is between 120.00 - 128.00 USD.

The trading volume is still not particularly increasing. The MACD and RSI show us no bullish signs and should therefore be viewed as neutral.

VeChain is not at its best. After reaching new heights in mid-November, things have only gone downhill since then. We are currently in a downtrend at around USD 0.08.

Here our red support box has already been breached several times, but as soon as we were below we were quickly bought up again and the bulls showed strength. The RSI may give us a little bit of hope.

Here we have formed a bullish divergence on the 4H chart, which could now be played out over the weekend. Nevertheless, one should be careful at the weekend, as little volume is sufficient here to move the price up or down.

In general, caution applies at the moment! Bitcoin is in a delicate phase and if our support breaks, we see significantly lower prices! Thus, the above-mentioned support zones for the Altcoins could easily be broken.

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