Elliott Wave Technical Analysis: VeChain / U.S. Dollar

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Elliott Wave Analysis TradingLounge Daily Chart, 18 January 23,

VeChain / U.S.Dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next higher Degrees: wave V of Impulse

Details: Wave V may have caught and the price is reversing to an uptrend.

Wave Cancel invalid Level: 0.0153

VeChain / U.S.Dollar (VETUSD) Trading Strategy: VeChain token has recovered well from the 0.015 level, but even so, the price is still below MA200, so it is possible that the price is still in a downtrend. The increase may be the first period to change to an upward trend, so there is a throwback opportunity. Trading during this period must be done carefully.

VeChain / U.S.Dollar (VETUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 18 January 23,

VeChain / U.S.Dollar (VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (1) of Motive

Details: Wave 3 rise is likely towards the level of 0.02135

Wave Cancel invalid Level: 0.01535

VeChain / U.S.Dollar (VETUSD) Trading Strategy: VeChain coin has recovered well from the level of 0.015 and can pass MA200, MA50, the price is clearly uptrend. But even so, the price is at the end of the rally at the end of the wave (5). In the short term, the price will reverse again. Trading during this period must be done carefully.

VeChain / U.S.Dollar (VETUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.