- On the upside, if the bulls break above the EMAs, the crypto's price will rise and retest the $0.009499 overhead resistance.
- On the downside, if the bearish trend continues, the market will revisit the low of $0.005000 price level.
VET/USD Medium-term Trend: Ranging
- Resistance Levels: $0.0090, $0.0100 ¸ $0.0110
- Support levels: $0.0060, $0.0050, $0.0040
Yesterday, July 29, the price of Vechain was retracing after the resistance by the 12-day EMA. The coin had been on a downward correction. On June 29, the bulls were resisted at the $0.009499 price level. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone.
On July 16, the downward trend was corrected at the $0.005150 price level. On July 17, the bulls made an upward move and broke above the 12-day EMA but were resisted by the 26-day EMA. The price fell back to the bearish trend zone to commence a range-bound move.
On the downside, if the bearish trend continues, the market will revisit the low of $0.005000 price level. The price of Vechain is in the oversold region of the daily stochastic but below the 40% range. This indicates that price is in a bearish momentum and a sell signal.
VET/USD Short-term Trend: Ranging
On the 1-hour chart, the VET price was in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally indicating that price is in a sideways trend. The price of VET is below and above the EMAs indicating the sideways trend.
The price of VeChain is in the oversold region of the daily stochastic but above 20% range. This indicates that price is in a bullish momentum and a buy signal.
Live VeChain (VET) Price:
1 VET/USD =$0.0189 change ~ -5.20%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.