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VET/USD Long-term Trend: Bearish
Resistance levels: $0.014, $0.015, $0.016,
Support levels: $0.010, $0.009, $0.008
The overall trend of VET/USD pair was a downward trend in the month of October 2018. The opening balance of VeChain was $ 0.01339. On October 11, the digital currency depreciates again the low of $0.01334. In the first week of November, the digital currency is still in a downward trend. It is currently trading at $0.0105 as at the time of writing.
Price has reached the oversold condition of the market. If the digital currency continues its downward fall, the support levels will be breached. Traders are to look out for a buy setups in anticipation of a bullish trend. 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.
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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.