VET had a range trend during the last week and a downward trend in the last two weeks. The price of this currency has formed a new downward wave by completely breaking the support of the range of $0.017 to $0.020, and the support of the range of $0.014 to $0.015 and finally, the strong level of $0.010 can be good reaction areas for the current week and the coming weeks.
Of course, a short-term stop occurred in the $0.016 range, which increases the probability of the price entering a corrective wave in the 4-hour timeframe. Also, at the time of writing this analysis, the price has entered a trading range area in the 4-hour period, the first resistance of which is at the level of $0.0163 to $0.0165, and the second resistance can be considered in the range of $0.0170. Only if the second resistance is broken, we expect a trend change in this time frame. Otherwise, with a negative reaction to these resistances, we expect the continuation of the downward trend and a decrease in the specified support levels.
Of course, a short-term stop occurred in the $0.016 range, which increases the probability of the price entering a corrective wave in the 4-hour timeframe. Also, at the time of writing this analysis, the price has entered a trading range area in the 4-hour period, the first resistance of which is at the level of $0.0163 to $0.0165, and the second resistance can be considered in the range of $0.0170. Only if the second resistance is broken, we expect a trend change in this time frame. Otherwise, with a negative reaction to these resistances, we expect the continuation of the downward trend and a decrease in the specified support levels.
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