VETBTC looks unrelenting as it heads to the next resistance level. The pair has taken a long bearish route since May, and the journey has not ended, thus pushing the market to the next resistance level.
Supply levels: $0.010, $0.011, and $0.012
Demand levels: $0.092, $0.085, 0.084
VETBTC Trends: Bearish
The coin bearish re-entry, indicated after the market capped at the price resistance of $0.010, with a price action signal. The market has burst out of the next resistance price of $0.011 and is thus heading to the price level of $0.012. A level the market has tested before. If it succeeds in breaking through this level, the price will look for a new market low.
The daily chart graph shows that the 50 Exponential Moving Average is above the market price after the price has tested it, in effect authenticating the bearish trend. The MACD indicator Histogram is just beginning to show signs of bearish trends, including it’s signal line crossing for the bearish market.
VETUSD Market Analysis
The currency is showing signs of a bearish trend, but in effect, it is ranging momentarily. A break of the nearest resistance line will be a good reason to authenticate the bearish movement.
The 4-hours chart indicates the market is moving between the cross of the 50 Exponential Moving Average. The Bollinger Bands is also squeezed, waiting for a break; also the MACD Histogram is flat.
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