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VET/USD Medium-term Trend: Ranging
- Supply levels: $0.0044, $0.0048, $0.0052
- Demand levels: $0.0038, $0.0036, $0.0034
VET/USD market has entered other price range zones depicted between $0.0042 and $0.0038 marks about a couple of days until now. On January 10, the crypto-market witnessed a vibrant decline from around $0.005 high mark to eventually get a brief push southwards against $0.004 on the same day.
Thereafter, the market weakly went on a ranging move mode around $0.0042 and $0.004 between January 10 and 13 early trading sessions. Presently, price still continues been trading under the sell signal line of the 50-day SMA indicator as the Bollinger Bands are located within the range zones. The Stochastic Oscillators have crossed at range 80 to seemingly commence a consolidation move around it.
Every trading indicator still has it that more downward price movements will possibly be experienced in this crypto-market as long as its 50-day SMA indicator remains unbroken northward.
VET/USD Short-term Trend: Ranging
Today, VET/USD market move has been majorly featuring in a range mode around $0.0041 and $0.004 marks in the short-term run. The market witnessed a low point on January 13 at around $0.0038 price level but got a spike on January 14 to test the current upper range point.
Since yesterday, the crypto has continually ranged around the said mark until now. The 50-day SMA is underneath the Bollinger Bands. The Stochastic Oscillators have closed hairs at around range 40 to seemingly continue its consolidation movement around it.
The 50-day SMA’s trend-line may now have to serve as a yardstick to determine the continuation of present swing uptrend in the short-term trade if it is not fiercely broken downward.
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.