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VET/USD Medium-term Trend: Ranging
Supply levels: $0.0055, $0.006, $0.0065
Demand levels: $0.004, $0.0035, $0.003
Last week, the market valuation of the VET/USD surged northwards out of well-defined range boundaries to obtain around the $0.0058 recent high mark on November 29. On getting a point, the crypto retraced against the $0.0055 market line to push downwards against both the middle Bollinger Band and the 50-day SMA to test the $0.0045 mark yesterday.
Today, the market has been witnessing short ups and downs within the $0.005 and the $0.0045 price levels. The middle Bollinger Band and the 50-day SMA have conjoined within the range a bit above the current trading spot. The Stochastic Oscillators have crossed to point north direction below range 50.
It appears that there is a window opening for exerting a long position around $0.0045 and the $0.004 market levels but traders should apply good financial guiding principles while placing trades.
VET/USD Short-term Trend: Bullish
The VET/USD market in the short-run witnessed a slide in its valuation by a way of featuring notable bearish candlesticks coupled with major lower lows yesterday. Mostly all the market sliding movements came up underneath both the 50-day SMA and the middle Bollinger Band sell signal lines.
The crypto got to stop while it tested the $0.004 mark, and a sudden spike emerged to push against the middle Bollinger Band northward to touch both the upper Bollinger Band and the 50-day SMA at around $0.0048 point. As at now, price has been trading around the said market spot on the chart. The Stochastic Oscillators are now seemingly consolidating around range 75.
The $0.0044 market line seems to be the critical point that could suggest an invalidation of the current upward swing movement in the VET/USD trade.
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.