Vechain Price Analysis June 14, 2019
The pair breaks below moving average 5 and 13 may close lower for the 3rd day in a row. Moving lower for another period of selling row. The bears may come into play here and take temporary control.
Demand Level: 0.00000143, 0.00000124, 0.00000104
Supply Level:0.00000092, 0.000000086, 0.00000080
VETBTC Long term trend: Bearish
The pairs have a technical analysis showing that it is trading close to the technical support level at 0.00000086.
While vechain is experiencing a downside momentum, this condition may speed up the move to the upside should VETBTC mark new lows for the month.
VETBTC Short term trend: Bearish
On the flipside, as prices are trading close to the short term supply zones and later turned demand zones the upside momentum is gathering strength for the near short term trend break to the upside on the level at 0.00000096 and level at 0.00000104 in extension
The technical bias for the pair remains bearish as only increased bullish sentiment can bring in the required volatility to bring the pair to the upward level.
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