VETUSD Elliott Wave Analysis | TradingLounge Daily Chart
VeChain (VET) to U.S. Dollar (VETUSD) Daily Chart Analysis
VETUSD Elliott Wave Technical Analysis
- Function: Counter Trend
- Mode: Corrective
- Structure: Double Corrective
- Position: Wave ((Y))
- Next Higher Degree Direction: Wave II of Impulse
- Invalidation Level: N/A
- Details: Wave II appears complete, and the price is expected to increase in Wave III.
VeChain (VET) Trading Strategy Against USD:
VeChain’s primary trend may have concluded, with Wave 1 likely completed. The current price action suggests entry into a corrective Wave 2, anticipated to test the 50-61.8% retracement level of Wave 1 before resuming an upward trajectory in Wave 3. Traders should watch for opportunities to re-enter the trend during this correction.
VeChain (VET) Technical Indicators:
VETUSD Elliott Wave Analysis | TradingLounge H4 Chart
VeChain (VET) to U.S. Dollar (VETUSD) 4-Hour Chart Analysis
VETUSD Elliott Wave Technical Analysis
- Function: Counter Trend
- Mode: Corrective
- Structure: Double Corrective
- Position: Wave ((Y))
- Next Higher Degree Direction: Wave II of Impulse
- Invalidation Level: N/A
- Details: Wave II appears complete, and the price is expected to increase in Wave III.
VeChain (VET) Trading Strategy Against USD:
VeChain’s primary trend may have concluded, with Wave 1 likely completed. The current price action suggests entry into a corrective Wave 2, anticipated to test the 50-61.8% retracement level of Wave 1 before resuming an upward trajectory in Wave 3. Traders should watch for opportunities to re-enter the trend during this correction.
VeChain (VET) Technical Indicators:
- Price Relative to MA200: Below the 200-period Moving Average, indicating a downtrend.
- Wave Oscillator: Bullish Momentum.
Technical Analyst: Kittiampon Somboonsod
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