VETUSD Elliott Wave Analysis: VeChain Daily Chart

VETUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next Higher Degree: Wave II of Impulse

Wave Cancel Invalid Level: 0.2100

Details: Wave II appears to be complete, with a potential price increase in Wave III.

VeChain (VETUSD) Trading Strategy:

The correction in Wave II seems to have ended, and the price is likely resuming its upward trend. Look for opportunities to join the uptrend, but wait for confirmation after the price rises above 0.0386.

VeChain (VETUSD) Technical Indicators:

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows bearish momentum.

VETUSD Elliott Wave Analysis: VeChain H4 Chart

VETUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next Higher Degree: Wave II of Impulse

Wave Cancel Invalid Level: 0.2100

Details: Wave II appears to be complete, with a potential price increase in Wave III.

VeChain (VETUSD) Trading Strategy:

The correction in Wave II seems to have ended, and the price is likely resuming its upward trend. Look for opportunities to join the uptrend, but wait for confirmation after the price rises above 0.0386.

VeChain (VETUSD) Technical Indicators:

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

See Previous: Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave Technical Analysis

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