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

On October 2 and 4, VeChain saw failed price spikes that had only got the market point around $0.0113 price level. On October 30, last week, the crypto significantly dropped from around $0.0104 price level to test past the $0.006 mark briefly as a quick correction followed the sudden bearish market volatility.

Since then, the market has been successfully put back into a range. The trading indicators are still kept within the $0.011 and the $0.010 price levels until present. The market value has been hovering around the upper Bollinger Band as the 50-day SMA’s trend-line has kept a close location underneath it. The Stochastic Oscillators have moved to point north-east below range 50. This could mean that a price consolidation is in focus as trading activity may now be suspended for a while.

Today witnesses a major price ranging movement in the VET/USD market valuation until now around and between the $0.011 and the $0.010 price areas. At this week’s trading commencement, a spike was noticed as the crypto surged northward to around the $0.0113 mark.

It has now lost the strength to keep the upward movement afloat beyond the said mark area. As a result, the market line has been ranging within the Bollinger Bands until now. The middle Bollinger Band is a bit located above the 50-day SMA. The Stochastic Oscillators have briefly moved past range 50 to slightly point south above it.

There is a probability that the market may still be made to face a line of market correction between the $0.0105 and the $0.0095 price points should it be pushed southward further violently.

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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