VET/USD Medium-term Trend: Bearish

Supply levels: $0.013, $0.014, $0.015
Demand levels: $0.009, $0.008, $0.007

The market line movement of the VET/USD has been basically running in a bearish format since the beginning of trading session today. VET worth in the medium-run market has been undervalued against the USD.

There were a number of rejection signals that occurred below the middle Bollinger Band yesterday and that have now given birth to the current bearish trend as at writing. The crypto has now been approaching the $0.0094 low level with a short distance from the lower Bollinger Band. The 50-day SMA is found within the same market range with the upper Bollinger Band. The Stochastic Oscillators have penetrated into the oversold zone. And, they appear to start a consolidation move within it.

Our assumption remains that bulls will soon stage a comeback as soon the Stochastic Oscillators have crossed to point north with an emergence of a sudden market upswing.

About a couple of hours today, VET/USD market worth visibly dropped in value along with the lower Bollinger Band. The crypto has been as well closely observed to begin finding a stance against the US dollar.

There has been a short space between the 50-day SMA and the middle Bollinger Band trend-lines as the former is located over the latter. The Stochastic Oscillators are now consolidating closely with the lower band marked at range 20. The $0.0094 market level now seems to be the pivotal area that this crypto may be finding difficult to breach southward past in the near time.

Therefore, most of buying trading positions now has a high potential of prevailing over the bears in the market.

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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