in

VeChain Price Is Aiming to Penetrate $0.142 Upside Provided $0.099 Level Holds – Cryptovibes.com – Daily Cryptocurrency and FX News

VeChain Price Is Aiming to Penetrate $0.142 Upside Provided $0.099 Level Holds – Cryptovibes.com – Daily Cryptocurrency and FX News


VeChain Price Analysis – June 07

 

The bulls are testing the $0.142 psychological resistance level and aiming to penetrate it and hit the potential resistance levels at $0.175 and $0.216. At the lower side of the chart, the coin may face the support level at $0.099, $0.055, and $0.022 in case the resistance level at $0.142 hold.

VET/USD Market

 

Key Levels:

 

Resistance levels: $0.142, $0.175, $0.216

Support levels: $0.099, $0.055, $0.022

 

VETUSD Long-term Trend: Bullish

Started from the middle of May, the sellers are the controller of the VeChain market. This is noticed clearly with the decrease in price from the resistance level at $0.254 to $0.055 within two weeks. The price pulled back to test the resistance level at $0.142. The price increase was opposed by the bears. The price decrease is equally opposed by the bulls, the price resorted to ranging movement within $0.142 and $0.099 levels.

VETUSD Daily chart, June 07

 

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 above 40 levels bending down. The price has not crossed the two EMAs upside and the price trading betwen the dynamic resistance level. Meanwhile, bulls are testing the $0.142 psychological resistance level and aiming to penetrate it and hit the potential resistance levels at $0.175 and $0.216. At the lower side of the chart, the coin may face the support level at $0.099, $0.055, and $0.022 in case the resistance level at $0.142 hold.

 

VETUSD medium-term Trend: Ranging

VeChain is on the ranging mode. The decrease in price to the support level of $0.055 is in accordance with high strength of US dollar. The price was rejected at the mentioned level and reverses to test the resistance level of $0.142. The resistance level equally defended by the bears and the VeChain commences ranging movement in the 4-hour chart.

VETUSD 4 hours, June 07

In case VeChain price could not cross below the $0.099 level, the coin may likely move towards the resistance at $0.175 provided $0.142 level do not hold. The Relative Strength Indicator periods 14 is bending towards south at 45 levels indicate sell signal.

 



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Bitcoin: Veteran Trader Peter Brandt Says Lowest Price He Can Envision Is $21,000

Bitcoin: Veteran Trader Peter Brandt Says Lowest Price He Can Envision Is $21,000

Deutsche Bank Sees Rising Inflation As A Ticking Economic "Time Bomb"

Deutsche Bank Sees Rising Inflation As A Ticking Economic “Time Bomb”