VETUSD Elliott Wave Analysis: TradingLounge Daily Chart

Vechain/ U.S. Dollar (VETUSD) Day 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

Wave Invalid Level: Price expected to remain below 0.01781

Details: Wave II may not yet be complete. The current price is likely to stay below 0.01781, signaling the continuation of the corrective pattern.

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

This analysis indicates a five-wave retracement in Wave (C), where we are nearing the final phase of Wave Y. The price is expected to test the 0.017 level before seeing a potential short-term retracement. The overall outlook is bearish in the short term, but a rally is likely to follow after this retracement phase.

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

• Moving Average 200 (MA200): The price is trading below the MA200, confirming a downtrend.

• Wave Oscillator: Showing signs of bearish momentum, reinforcing the short-term downtrend outlook.

Vechain/ U.S. Dollar Elliott Wave Analysis: TradingLounge 4-Hour Chart

Vechain/ U.S. Dollar (VETUSD) 4-Hour Chart Analysis

VETUSD Crypto Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Next Higher Degree Direction: Wave II of Impulse

Wave Invalid Level: Price expected to remain below 0.01781

Details: The corrective wave structure in Wave II suggests that the price may continue to stay below the 0.01781 level. The corrective pattern is not yet complete.

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

A five-wave retracement is forming in Wave (C), and we are in the final stages of Wave Y. The price is likely to test the 0.017 level, which could indicate the end of this short-term retracement, with another rally potentially following.

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

• Moving Average 200 (MA200): The price is currently below the MA200, signaling a downtrend.

• Wave Oscillator: The oscillator shows bearish momentum, supporting the expectation of continued downward movement.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here See

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