VeChain, Litecoin Price Prediction – LTC Floats, VET Coin Breaks Higher
Skerdian Meta • 2 min read
VeChain (VET) is a supply chain blockchain-powered platform. VeChain aims to boost the efficiency, transparency, and traceability of supply chains while at the same time it aims to rede costs and place more control in the hands of individual users. It also aims to revolutionize the way we deal with counterfeit goods, so its use in the real world economy will increase.
The native token of the network is VET and it is used to carry value from smart contracts. VET/USD has been bullish since the beginning of October as the crypto market turned bullish back then, although it hasn’t shown any particular strength, above the market’s average.
The 20 SMA (gray) has been acting as support on the daily chart and in the last two days, the uptrend has picked up pace. Now the price has broken above September’s high of $1.16, so the buyers are gaining even more confidence now. We will wait for a pullback to the 20 SMA before opening a buy signal here though.
Litecoin Daily Chart Analysis – LTC Keeps the Slight Bullish Trend
LTC/USD trading above all moving averages on the daily chart, which is a bullish sign
Litecoin was showing weakness as it was trading sideways since the middle of August, apart from the two jumps higher, which faded pretty quickly. In October this pair started to turn bullish, similar to VeChain, but with a slower pace and deeper setbacks, such as the one we saw toward the end of October, which sent the price below the 200 SMA (purple) on the daily chart, that had been working as resistance before.
But, the 50 SMA (yellow) and the 100 SMA (green) turned into support and held the price during that retreat. LTC/USD reversed higher after that and now it has turned bullish. The trend is not too strong but the price is trending up and trading above $200 now.