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VET/USD Long-term Trend: Ranging
Resistance levels: $0.014, $0.015, $0.016,
Support levels: $0.010, $0.009, $0.008
The VET/USD pair had been bearish in the month of October. On September 21, the bulls took price to a high of $0.014 but price was resisted and it fell to the low of $0.011. Since the digital currency fell to its low; traders should have taken advantage of buying low. In trading, we buy low and sell high. In this case, our stop loss should be below the $0.011 price level.
The price of VeChain is expected to rise. Presently, it is approaching the price at $0.012 as at the time of writing. Nevertheless, the price of VeChain is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
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.