Elliott Wave Analysis: VeChain, Sept. 28

Elliott Wave Analysis TradingLounge Daily Chart, 28 September 2022,

VeChain (VET-X)

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VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (3) of Motive

Details: The price tends to trade lower. 0.2003, but must not return no more than 0.02402

Wave Cancel invalid Level: 0.02657.

VeChain Trading Strategy: Bear Market Efforts The price tends to trade

below the 0.2003 level, and it tends to go down to the 0.0159 level. This could be an

opportunity to open a short position.

VeChainTechnical Indicators: MACD is below 0 line, price is below MA50,MA200 line, trend is still bearish.

Tradinglounge Analyst : Kittiampon Somboonsod

VeChain

VETUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: wave (3) of Motive

Details: The price tends to trade lower. 0.2003, but must not return no more than 0.02402

Wave Cancel invalid Level: 0.02657.

VeChain Trading Strategy: Bear Market Efforts The price tends to trade

below the 0.2003 level, and it tends to go down to the 0.0159 level. This could be an

opportunity to open a short position.

VeChainTechnical Indicators: MACD and MACD Histogram has a Bullish divergence, and the price has an opportunity reversal.


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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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