$LUNA, NEAR, $VET and STEPN could outperform altcoins in the short-term if bulls manage to set Bitcoin into a consolidation phase.
) has been consolidating in a large range between $0.043 and $0.083 for the past many days. The price reached the support of the range which has acted as a strong floor on three previous occasions.The bounce off the $0.043 support today suggests that the buyers are defending the level with vigor. If the buying momentum sustains and the price rises above the 20-day EMA , it will suggest that the VET/USDT pair may stay in the range for a few more days.
Conversely, if the price turns down from the 20-EMA, it will suggest that bears are selling on rallies to strong resistance levels. The bears will then attempt to pull the pair below the strong support at $0.043 and extend the decline.STEPN has been correcting in an uptrend. A positive sign is that the bulls have not allowed the price to break below the 20-day EMA . This suggests that the sentiment remains positive and bulls are buying on dips.
If the price turns down and breaks below the 20-day EMA, the selling could intensify. The pair may then decline to the 50-day SMA .The bears tried to sustain the price below the 50-SMA but failed. This suggests strong demand at lower levels. If bulls push the price above the 20-EMA, it will indicate that the selling pressure may be reducing. The pair could then retest the all-time high at $4.17.
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