- VET bulls in pressure, price might fall further.
- VET trading below all the significant moving averages of 50,100 and 200.
- VET/BTC is trading at 0.00000206 BTC with an intraday change of -2.83% while VET/ETH is trading at 0.00002947 with an intraday change of -1.41%.
VET price is currently trading below all the significant moving averages of 50, 100 and 200. This is the scene of bulls in pressure and they are trying hard to move above the moving averages. The 100 day moving average is the immediate moving average the price is struggling to break.
The Relative Strength Index (RSI) is also indicating a bearish momentum. The RSI line is heading towards the overbought area and we may witness more panic selling in the days to come.
The Moving Average Convergence Divergence (MACD) is also showing a bearish momentum. The MACD line and the Signal line are both below the Zero line. The MACD line is below the Signal line indicating the bears are in power. This may further drive the price of VET down.
The Fibonacci indicator is suggesting an immediate resistance at the $0.09642 price level. The $0.10797 and $0.11952 are also other resistance levels. The $08213 price level is the immediate support with the $0.05903 being another support level.
NOTE: The moving average 50,100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue and the Signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $08213, $0.05903
RESISTANCE: $0.09642, $0.10797 and $0.11952
TAKEAWAY: Considering all the technicals mentioned above we might see the price of VET in bearish momentum for the next couple of days.