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Elliott Wave Analysis TradingLounge Daily Chart

VeChain/ U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Flat

Position: Wave ((C))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 0.2100

Details: Wave II May is complete and the price increase again in Wave III

VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level, and the price is resuming the upward trend. Therefore, to look for an opportunity to join the uptrend, you may need to wait for confirmation after the price rises above 0.0386.

VeChain/ U.S. dollar(VETUSD)Technical Indicators:
The price is below the MA200, indicating a downtrend. However, the Wave Oscillator shows bullish momentum.

Elliott Wave Analysis TradingLounge H4 Chart

VeChain/ U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Flat

Position: Wave ((C))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid Level: 0.2100

Details: Wave II May is complete and the price increase again in Wave III

VeChain/ U.S. dollar(VETUSD)Trading Strategy:
The correction in Wave II appears to be complete at the 0.032 level, and the price is resuming the upward trend. Therefore, to look for an opportunity to join the uptrend, you may need to wait for confirmation after the price rises above 0.0386.

VeChain/ U.S. dollar(VETUSD)Technical Indicators:
The price is below the MA200, indicating a downtrend. However, the Wave Oscillator shows bullish momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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