- The trading volume of the VET Coin in the last 24hr at the time of writing this article is -17%
- The Price of VET/BTC and VET/ETH at the time of writing this article is 0.000001807 BTC and 0.00002991 ETH
- The 20MA crossed the 50MA in an upward direction
LONG TERM ANALYSIS:-
In the daily time interval, we can see the 20MA has crossed the 50MA, which is a bullish move. The price was moving towards Support, but the bulls were trying to push the price up. Let’s look at the technical analysis to see if the price will move toward the Resistance or break the Support.
Firstly, we can see the MACD shows the green histograms as the MACD line is above the signal line, but the MACD line is changing its direction and may cross the Signal line soon, making it a bearish trend. In addition to that, we can see the RSI is in the neutral zone near the 54, and the RSI line is pointing sideways, which means the bulls and bears are giving each other a good fight. Lastly, we can see the Moving average as the 20MA crossed the 50MA in an upwards direction as told is a bullish move, and both are above the 100MA.
SHORT TERM VIEW:-
In the 4hr time interval, we can see that the price is near Resistance, and MACD is showing red histograms as the MACD line is below the signal line; there is no sign that the line will change its direction soon. In addition to that, we can see the RSI is in the neutral zone near 48, and the RSI line is pointing towards the overbought zone of 70, which means the bulls are winning the fight over the bears. Lastly, we can see the Moving Average as the 20MA is above the 50MA, but the 20MA has started to change its direction and may cross the 50MA, but both 20MA & 50MA are above the 100MA.
Looking at both long term and short term, we can see that the price will be moving to the Support but is expected to take a bounce back from the bulls to the Resistance, as the MACD is showing red histograms in the 4hr but changing its direction, if it crosses the bulls will push the price up. So, it depends, if the bulls keep the same volume the rice may test the Resistance.