VET/USD Medium-term Trend: Ranging

Supply levels: $0.015, $0.016, $0.017
Demand levels: $0.012, $0.011, $0.010

In about a few days back, VET/USD strongly continued to move its market price value within the confinement of the Bollinger Bands relatively marked by $0.0135 and $0.0125 price levels. About two days, the crypto stopped declining as it suddenly jumped northwards past both the middle Bollinger Band and the 50-day SMA.

That eventually enabled the VET/USD market valuation got pushed northward further past the upper Bollinger Band to touch $0.0145 level. Thereafter, the crypto made a correction as it has now seemingly resumed its ranging movement around the upper Bollinger Band. The Stochastic Oscillators have moved upward to cross at range 60 to slightly point south. This suggests that there may be falling market price positions soon.

About a day and a few hours back, VET/USD strived vigorously to move upward in its market price valuation. The crypto’s market price point rose northbound along with the upper Bollinger Band.

The price movement got the VeChain market value pushed northwards beyond $0.014 price level against the U.S. dollar worth. Price has now been traded above both the Middle Bollinger Bands and the 50-day SMA as there is a small space between them. The Stochastic Oscillators have crossed and moved past range 60 briefly to point south-east. This calls for a caution in the placing of more trades. Meanwhile, a strong bearish reversal may be what traders should be on the lookout for, to observe a decent long entry of this crypto.

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

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