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VET/USD Medium-term Trend: Bullish
- Supply levels: $0.0046, $0.0050, $0.0054
- Demand levels: $0.0038, $0.0036, $0.0034
There have been relative swing upward price movements in the market valuation of VET/USD about two days back. On January 20, the crypto has managed to rally from a low mark of around $0.0039 to briefly touch past the $0.0044 market high-value today.
The market has now been trading around the Bollinger Upper Band located closely to the $0.0044 current high market point. The Bollinger Middle Band is closely located over the 50-day SMA. The Stochastic Oscillators are somewhat slantingly heading northward than eastward below range 80. That suggests that more ups can be expected but may lack strength.
Bulls’ current market driving force seems not having more attraction of placing further long positions at this point in time as a reversion looks to be setting in around the current $0.0044 high market point.
VET/USD Short-term Trend: Bullish
VET market worth has been on an increase as paired with the USD price valuation since the commencement of trading sessions today. After finding a foundation at its 50-day SMA indicator around $0.0041 mark today, the crypto surged northward to average $0.0045 mark.
Price has been trading around the Bollinger Upper Band as the 50-day SMA is found a bit over the Bollinger Lower Band at around $0.0041 mark. The Stochastic Oscillators have briefly dipped past range 80 into the overbought zone. There may soon be a mode of consolidation movement around the range.
The current uptrend in the short-term market run may need to use the Bollinger Middle Band for finding a foundation to potentially boost its continuity in the market. Traders are enjoined to watch out for a decent set-up before launching a position.
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.