This is a continuation of my analysis 24h ago.
I have added a MFI (14) chart to track the money flow to give a rough idea of whether it is in oversold territory yet.
VENETH has broken the 99 day EMA line and is nesting on the edge of the upward moving channel. It looks set to bounce off the channel to complete its wave movement up.
This looks to be confirmed...
VENETH is trading within channels despite recent declines due to correction of circulating supply on Coinmarketcap.com.
Circulating supply won't be a direct determinant of VEN's prices given the upcoming VEN and THOR mechanics that will be introduced in 2018Q2 which we expect would take quite a bit of VEN's supply off circulation.
Expect conservative trading...
