The Sharks Are Circling. Vertcoin! (VTC)

Hi friends! Let's take a look at Vertcoin! As you can see, VTC recently produced a technical development, known as a "Death Cross." This is when the fast moving 50 EMA (in orange,) crosses below the slower moving 200 EMA (in purple.) It is indicative of falling price action, and usually a precursor to further downside. Additionally, we can see that major uptrend support was broken (black trendline.) After failing to hold the trendline, Vertcoin curled back up to retest it, and confirm it as new resistance. That is a sign that more downside is likely in VTC. Also, we can see that the MACD is showing a steady increase in sell-side momentum. The first major downside support, is around $4.65, at the 61.8% retracement level. Stay on your toes people. I smell blood, and so do the institutional investors who want to take your money. MPC out.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-