VET/USD Medium-term Trend: Bearish Supply levels: $0.0046, $0.0050, $0.0054 Demand levels: $0.0034, $0.0032, $0.003

This week, VET/USD market has been basically seeing a decline in its trading sessions until now. On January 26, the crypto encountered a tough price level between the Bollinger Upper and Middle Bands.

On its following day, January 27, the pair got a push against both its 50-day SMA and Bollinger Lower Band to eventually touch $0.0038 today. Price has now been trading between $0.004 and $0.0038 market points. The Bollinger Middle Band has intercepted the 50-day SMA from the top to still probably suggest a continuation of the current bearish trend. The stochastic Oscillators have crossed within the oversold zone to seemingly consolidate around it.

While the market consolidation movements still on for long, then, it would be advisable for the traders to look out for a good sell set-up in the market.

In the short-term market running outlook of the VET/USD today, there has been featuring of lower lows and lower highs. Unlike yesterday, the crypto saw a sizeable amount of falling in its market valuation.

Presently, price has been trading around the mid-point of $0.004 and $0.0038 marks. The 50-day SMA has conjoined with the Bollinger Upper Band at the $0.004 upper range zone as the Bollinger Lower Band maintains a closer position to the $0.0038 lower range mark. The Stochastic Oscillators have closed at range 50 in an attempt to either start a consolidation move or to point south.

As at now, before nursing a bias for bull’s return into this market, it may be necessary to allow the crypto-trade get a reversal from around the $0.0038 lower range zone or a bit below it. Then, investor may as well think of joining the market trend while that scenario plays out.

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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