VETBTC bearish market movement has elapsed within a support and resistance zone. The slow price momentum sets in after the price met a stiff market barrier. The price has been hovering within this zone; a break from either side will determine the trend direction.
Supply levels: $0.0104, $0.0110, $0.0123
Demand levels: $0.0094, $0.0079, $0.0056
VETBTC Trends: Ranging
The coin has given in for a counter-trend from the bearish trend it has experienced for a while now. The bearish trend met resistance at $0.0056, after which, the price moved up to test the price level of $0.0079, ever since then the price has been hovering within this area. A break of this level will determine the market trend, either for a bullish or bearish trend.
VETUSD Market Analysis
VETUSD is in a tight ranging situation. The coin lacks momentum at the moment, the trend direction cannot be determined until a notable market break out takes place either for a bearish or bullish trend.
The 4-hour chart is indicating that the market price is operating in-between the 14 and 50 Exponential Moving Averages, while the MACD indicator signal lines and Histogram bars are on a flat range, thus indicating a counter-trending market.
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