We will be conducting a macro analysis between the three competitors LTO, ICX, and VET while analyzing their technical status and comparing all three together in the end.
LTO has broken out from a key-area of resistance with a strong bullish engulfing. Such a strong bullish engulfing is a sign of strength and confirms further upside continuation. The upside is locally limited only to the next critical level of resistance and the snapshot AllTime High. Looking at technical indicators such as the MKAST Algorithm, one can identify a robust bullish condition from the previous lows and is entirely understandable, especially after breaking the key-area of resistance. The MKAST Index moves powerfully at 14/15 points, which still leaves a tiny bit of room to grow to the upside before a retrace might come for a retest of the just broken resistance.
VET has not been seeing a lot of upsides lately. The only structure one can identify currently is a strong HFT falling wedge, which has recently been broken to the upside. Yet, the breakout has not been having any strength behind it and is not particularly strong. Looking at technical indicators, one can identify a bullish condition on the MKAST Algorithm, which is understandable. The falling wedge has been broken, and the continuation to the upside is expected, yet has to be confirmed with a breakout above the marked-out key-area of resistance. The MKAST Index is showing 11/15 points and still offers room for growth to the upside.
ICX has not been showing a lot of upsides recently. Such a stale movement can be disengaging for the community and the investors. The good thing is that the downtrend support has been left off. The following plan for ICX should be a robust impulsive move. Should this move not to happen, then ICX might be in a lot of trouble. Looking at technical indicators, one can identify a buy-condition on the MKAST-Algorithm, which is undoubtedly understandable but should not be left out of the eyes since the price is moving towards the MKAST LenLen Ribbon, which could be acting as a moving area of support, yet broken, it might turn into a resistance.
LTO built a strong bullish engulfing and a possible continuation from here on. The next levels are apparent, and ultimately a retest of the just broken key-area of resistance would be just perfect. VET is following tightly behind since it has broken out from the falling wedge and still has a good chance of moving to the upside and currently is not able to do so. A robust bullish move very soon is the “do or die” move for VET. Finally, ICX is lagging behind everyone and not showing a lot of action. They are moving slowly and carefully without having a lot of momentum lately. Should this not change soon, ICX can be in a lot of trouble.
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