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 within the channels as VEN continues its elliot wave between the upward channels.
Historically strong support level at EMA99.
Expect some volatility with potential hype nearer to the rebranding event on Feb 26 2018.
CEO Sunny Lu hinted expiry of certain non-disclosure agreements with existing partnerships/projects. Expect temporary breakout above the channel with any such unexpected announcements.