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VET/USD Long-term Trend: Ranging
- Resistance levels: $0.0080, $0.0090, $0.0100
- Support levels: $0.0040, $0.0030, $0.0020
The overall view of the VET/USD pair was that it had been in a sideways trend since January. The crypto was trading below the 12-day EMA and the 26-day EMA. The VET price traded and ranged from the high of $0.00406 to the low of $0.003933. In other words, the crypto lost 3% of its capital in a range bound movement. On February 8, the VET price was in a bullish trend. The crypto reached a high of $0.004213 and was resisted as price closed at $0.004126.
The crypto’s price is ranging below the 26-day EMA. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that the price of Vechain is in the bearish trend zone. The crypto’s price is likely to fall as it faces resistance at the $0.004129. The stochastic is out of the oversold region and below the 60% range which indicates that VET price is in a bullish momentum and a buy 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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