VeChain (VET) Daily Price Forecast – February 5

VET/USD Medium-term Trend: Ranging

• Supply levels: $0.0042, $0.0044, $0.0046
• Demand levels: $0.0036, $0.0034, $0.0032

VET/USD market has been basically featuring lower lows than lower highs within a range of $0.004 and $0.0038 marks since the commencement of trading sessions this week. Obviously, the pair trading activities have been continually carried out over a week under the 50-day SMA.

Price has been hovering around the lower range point. The indicators are located around $0.004 and $0.0038. The Stochastic Oscillators now seemingly look attempting to cross around range 20. That could mean the VET/USD market will still possibly have to see more price movements.

This crypto-trade seems like finding it difficult mostly while it gets to the current $0.0038 lower range mark. Traders are enjoined to exercise some degree of caution regarding placing of an order for now.

VET/USD Short-term Trend: Ranging

Today, VET/USD trade has been significantly witnessing variant choppy price movements in the market. The market also saw its price movements in the same range spots of $0.0039 and $0.0038 levels yesterday.

The 50-day SMA indicator has bent toward south within the range zones while the Bollinger Band Bands are located around it. Below range 60, the Stochastic Oscillators have appeared attempting to point south. That signifies that bears are somewhat still in the market.

The present market condition attracts less trading instinct, and as a result, traders may need to stay out of it for a while. But, investors may consider to join the market now or allow it to dip a bit further to consider joining.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.