VETUSD Elliott Wave Analysis – TradingLounge Daily Chart

VeChain/ U.S. Dollar (VETUSD) Chart Technical Analysis

VETUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction of Next Higher Degrees: Wave II of Impulse

Wave Cancel Invalid Level: N/A

Details: Wave II may not yet be complete; the price is likely to remain below 0.01781.

VeChain/ U.S. Dollar (VETUSD) Trading Strategy

The price movement from 0.01904 appears corrective, indicating that the overall correction may not be over. Traders should watch for a potential retracement below 0.01904.

VeChain/ U.S. Dollar (VETUSD) Technical Indicators

• The price is below the MA200, signaling a Downtrend.

• The Wave Oscillator reflects Bearish Momentum.

VeChain/ U.S. Dollar (VETUSD) – 4-Hour Chart

VETUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction of Next Higher Degrees: Wave II of Impulse

Wave Cancel Invalid Level: N/A

Details: Wave II may not yet be complete; the price is likely to stay below 0.01781.

VeChain/ U.S. Dollar (VETUSD) Trading Strategy

The rise from 0.01904 has a corrective structure, which suggests that the correction phase might not be concluded. Traders should remain alert for a potential retracement below 0.01904.

VeChain/ U.S. Dollar (VETUSD) Technical Indicators

• The price remains below the MA200, confirming a Downtrend.

• The Wave Oscillator continues to show Bearish Momentum.

Technical Analyst:  Kittiampon Somboonsod

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