VET/USD Long-term Trend: Bearish

Resistance levels: $0.0080, $0.0090, $0.010
Support levels: $0.0046, $0.0045, $0.0044

The VET/USD pair was in a bearish trend in the month of November 2018. On November 1, the price of VeChain had an opening balance of $0.0105 but on November 30, the price fell to the low of $0.0048. In other words, the crypto has lost 54% of its capitalization in the month of November. On November 8, the crypto's price was resisted and the price fell in a downward trend to the low of $0.0048. The bulls had no opportunity of pulling back price.

Nevertheless, the price of VeChain is likely to fall in the month of December as the crypto's price is below the two EMAs. We will look out for buy setups as soon as the bearish pressure is exhausted. 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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