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VET/USD Medium-term Trend: Ranging
Supply levels: $0.015, $0.016, $0.017
Demand levels: $0.011, $0.010, $0.009
VET/USD market value dropped last week as a result of a major bearish move that suddenly occurred on October 11. The major decline made the last range breached southwards to find an encounter around $0.011.
The crypto was hovering between the middle and the lower Bollinger Bands but eventually managed to push northwards past all the indicators’ levels while the market swung towards $0.014. Today, the market price has been ranging between the upper Bollinger Band and the middle Bollinger Band. The 50-day SMA is a bit above the upper Bollinger Band. The Stochastic Oscillators have crossed to indicate that bearish market may soon come to play in the market of this crypto so far the upper range is not breached upwards.
VET/USD Short-term Trend: Bearish
Between Monday and Tuesday trading sessions, the VET/USD market valuation experienced a basic upward movement. The crypto suddenly sprang northwards from around $0.012 price level to test around $0.0138 price level. Not too long, the market started pulling downwards to share almost same level with the Bollinger Band and the 50-day SMA.
The Stochastic Oscillators have moved to touch range 20 from above. This signifies that bears are still somewhat around in the market. A strong reversal against the $0.0115 price level could lead to an uptrend resumption of this crypto market. Like wisely, A break out of $0.013 could lead the crypto seeing past the last high point of $0.0138.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.