VET/USD Long-term Trend: Ranging Resistance levels: $0.0080, $0.0090, $0.0100 Support levels: $0.0040, $0.0030, $0.0020

The VET/USD pair had been in a sideways trend since the beginning of January. The 12-day EMA and the 26-day EMA are trending horizontally. In the first week, the crypto's price was below the EMAs. In other words, the crypto’s price was fluctuating above the $0.004265 price level. On January 9, the bulls reached the high of $0.004949. In the second week, the bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $0.004116. Nevertheless, the price of Vechain commenced a range bound movement at the $0.004116 price level.

Meanwhile, the stochastic indicator is out of the oversold region but above the 25% range indicating that the price of Vechain is in a bullish momentum and a buy signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price of Vechain is likely to fall. If the bearish pressure continues the crypto will revisit the previous low of $0.003321.

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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