VET/USD Long-term Trend: Bearish

Resistance levels: $0.014, $0.015, $0.016,
Support levels: $0.050, $0.040, $0.030

The price of VeChain had been bearish in the last three weeks of November. On November 1, the price of VeChain had an opening balance of $0.0104 but had depreciated to the low of $0.0052. The reason for the depreciation was that price had been on a downward trend. On November 19, the price was resisted by the 12-day EMA and it fell to the low of $0.053.

The bulls made a pullback but were resisted by the 12-day EMA. However, the crypto's price has reached the oversold region suggesting bulls to take control of the market. Price is still in the bearish trend zone and  traders are to look out for buy setups. Nevertheless, the price of VeChain is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

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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