VETUSD Elliott Wave Analysis TradingLounge Daily Chart

VeChain / 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

Wave Cancel Invalid Level: 0.2100

Details: Wave II may be complete, and the price may increase again in Wave III.

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

Overall, VeChain appears to have completed the correction in Wave II at the 0.020 level, and the price is rising again in Wave III. This pullback presents an opportunity to rejoin the trend.

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

• The price is above the MA200, indicating an uptrend.
• The Wave Oscillator shows bullish momentum.

VETUSD Elliott Wave Analysis TradingLounge H4 Chart

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

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave ((V))

Next Higher Degree Direction: Wave 3 of Impulse

Wave Cancel Invalid Level: 0.2100

Details: The five-wave increase of Wave 3

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

Overall, VeChain appears to have completed the correction in Wave II at the 0.020 level, and the price is rising again in Wave III. This pullback presents an opportunity to rejoin the trend.

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

• The price is above the MA200, indicating an uptrend.
• The Wave Oscillator shows bullish 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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