VeChain is under sellers’ momentum
VeChain Price Analysis – September 14
The bears are testing the $0.023 psychological support level and aiming to penetrate it and hit the potential support levels at $0.022 and $0.021. At the upper side of the chart, VeChain may face the resistance level at $0.025, $0.027, and $0.029 in case the demand level at $0.023 holds.
Bulls are dominating VeChain market
VET Price Analysis – August 13
Resistance levels: $0.025, $0.027, $0.029
Support levels: $0.023, $0.022, $0.021
VET/USD Long-term Trend: Bearish, Tamadoge Token Presale 90% Sold Out
Started from the middle of August, the sellers are the controller of the VET market. This is noticed clearly with the decrease in price from the demand level at $0.029 to $0.025 within a week. The price was pulled back to test the supply level at $0.025 level. The price bounced off and the bearish trend continues on 26 August and the price decreased to break down the previous low level. It reaches $0.022 level. A bearish engulfing candle pattern emerges and the price descends currently testing the demand level of $0.023.
Technically, at the daily chart, VET/USD is already in the hands of the bears as the relative strength index indicator period 14 supports the bearish action with its signal line pointing downward at 43 levels. The price has crossed the two EMAs downside and the price trading below the dynamic resistance level. Meanwhile, bears are testing the $0.023 psychological support level and aiming to penetrate it and hit the potential support levels at $0.022 and $0.021. At the upper side of the chart, the coin may face the resistance level at $0.025, $0.027, and $0.029 in case the demand level at $0.023 holds.
Your capital is at risk
ADA/USD Medium-term Trend: Bearish
VeChain is bearish in the medium time frame. The increase in price was rejected at the resistance level $0.027. The price is completing the formation of short “W” chart pattern; this is a bullish chart pattern and the price has passed through the barrier at $0.023 and $0.025. Strong bearish candle emerges and it is trying to break down the support level at $0.023
In case VeChain price could not cross below the 13800 SAT level, the coin may likely move towards the resistance at $0.025. The RSI indicator periods 14 is bending towards south at 37 levels indicate sell signal.
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