VET/USD Medium-term Trend: Ranging

Supply levels: $0.013, $0.014, $0.015
Demand levels: $0.010, $0.009, $0.008

It must be noted that a majority of crypto-markets are currently facing a selling pressure as they have been paired with the US dollar. But, the US dollar has not been yet having its market worth greatly creating an impact on the VET market valuation.

The crypto has only been very weakly pushed southwards within the $0.012 and $0.010 range levels. All the economic indicators are also located within the range until the present. The stochastic oscillators have touched and crossed around range 40 to slightly point north. There is a possibility that the market is building up its momentum to break the $0.011 and, while that plays out, the market may extend its upward swing to test past the last high in the market.

Unlike it has been basically witnessed in the short-term trend of many other cryptocurrencies during the last trading sessions, the VET/USD market doesn’t experience the same decline. Rather than to fall the same way as other crypto-markets, VET continues to move in the range levels of $0.012 and $0.010. The 50-day SMA is within the range and the Bollinger Bands to find its location a bit over the middle Bollinger Band.

Price has been fluctuating along with the lower Bollinger Band. The Stochastic Oscillators have briefly touched past range 75 to possibly suggest that the crypto has not been able to build its required strength to get off the lower Bollinger Band northward. In that wise, bears ‘ presence cannot be envisaged to have lost out completely in this 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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