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Elliott Wave Analysis TradingLounge Daily Chart, 4 July 2023. 
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: 0.01318
Details: Wave V is likely to end at the level of 0.01318. A five-wave rise will support this idea.

VeChain/U.S.Dollar(VETUSD) Trading Strategy: VeChian recovered well from the 0.01318 level and was able to form a strong five-wave structure, giving Chainlink the opportunity to form a new uptrend. Still, the price is still below the MA200 line, giving the price a chance to face selling pressure. So be careful of the resistance at the MA200 line.

VeChain/U.S. Dollar(VETUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, Wave oscillators are bullish momentum.

Analyst: Kittiampon Somboonsod, CEWA

​Elliott Wave Analysis TradingLounge 4H Chart, 4 July 2023.  
VeChain/U.S. Dollar(VETUSD)
VETUSD  Elliott Wave Technical Analysis
Function: Follow trend   
Mode: Motive
Structure: Impulse
Position: Wave (5)
Direction Next higher Degrees: wave ((1)) of Impulse
Wave Cancel invalid Level: 0.01318
Details: Wave 5 is usually equal to .618 multiplied Length of wave 1 through wave 3

VeChain/U.S. Dollar (VETUSD) Trading Strategy: VeChian recovered well from the 0.01318 level and was able to form a strong five-wave structure, giving Chainlink the opportunity to form a new uptrend. But there may be a correction in wave ((2)) before rising higher. Wait for wave ((2)) to complete to join the trend again.

VeChain/U.S. Dollar(VETUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. Wave oscillators are bullish momentum.

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